Supply Chain Management in Chemical and Petrochemical Manufacturing Industry
Maintaining an industry that drives almost all the other major manufacturing units, be it pharma, fuels or industrial chemicals, is quite a challenge. Supply chain management (SCM) in chemical and petrochemical industry is all about planning, sourcing, manufacturing, and delivering goods, and all this process demands precision, efficiency, and compliance without any compromises. These industries […]
Upcoming Challenges in Oil and Gas Supply Chain Management
The oil and gas industry is a giant powerhouse for a reason. Behind all the major economic moves, this stands firm. Be it about fueling the industries, driving innovation, sustaining global infrastructure or strengthening a country’s energy sector. However, everything good comes at a cost. And that cost is the emerging challenge threatening the supply chain […]
How to automate your data cleansing process in MRO
Are you up for losing $15 million or more annually? Don’t get us wrong. It’s just the facts. For example, if you’re still not taking your data cleaning process seriously, you must get ready for the consequences you may face. According to Gartner reports, organizations lose approximately $15 million annually due to poor data quality. […]
Master Data Management and Artificial Intelligence: A Powerful Combination for Business Success
Handling data is quite a task for businesses today. With accuracy, consistency, and accountability at stake, even the smallest errors can lead to major setbacks. Master Data Management (MDM) is the best thing happened to businesses. With its ability to streamline data without the usual risks of loss, duplication, or inconsistencies, it’s the perfect solution […]
Optimize Your MRO Operations: A Step-by-Step Guide
MRO is short for Maintenance, Repair, and Operations. It is a common term used in industries like aviation, manufacturing, and energy, where machinery and equipment require regular repairs and upkeep. MRO Inventory consists of supplies businesses keep on hand to make sure all their facilities and operations run smoothly. These items include spare parts needed […]
What is the Difference Between Supply Chain and Procurement?
Ever found yourself confused between ‘Procurement’ and ‘Supply Chain’? You’re not the first one. These terminologies are often used interchangeably, and on the surface level they might seem like the same thing. But they are not. Procurement focuses on the ‘Input’ (sourcing, negotiating, & purchasing of raw material/services). Whereas, Supply chain management oversees the ‘output’ […]
Who OWNS Versus Who BENEFITS from Your MRO Data
In many organizations, confusion exists about who has responsibility for MRO data ownership (maintaining your MRO materials data in the company’s item master), crucial for effective MRO maintenance versus who are the users or beneficiaries of the data. Often, the owners and the beneficiaries of the data are not the same. The owner of the […]
Who Owns the Spare Parts Strategy at Your Company?
Spare parts management involves costs amounting to millions each year. Unfortunately, this multi-million dollar section of the balance sheet is often overlooked, lacking any substantial procurement strategy or supply chain management approach. Companies often neglect strategies to improve their MRO spare parts materials because it may not seem as “sexy” as strategies for finished goods. […]
8 Best Practices for Asset Identification and Labeling
Yet, when rising demand necessitated a production capacity increase for Enviva’s nine manufacturing plants along the U.S. East Coast, the firm purchased and installed additional production assets. Enviva still
GINA LEONARD JOINS NET RESULTS GROUP
Louisville, KY – November 1, 2024 – Net Results Group (“NRG”), a leader specializing in MRO master data management for over twenty-five years, announced today that Gina Leonard has joined NRG’S team of highly skilled MDaaS subject matter experts. Gina joins NRG possessing the product knowledge and understanding of the entire MRO solution footprint […]
