Intelligent Data Standardization: The Key to MRO Excellence
Have you been involved with MRO projects where you felt the effort never achieved its full potential? Whether these were focused on improving reliability, increasing machine uptime, refining asset utilization, and/or improving maintenance work streams, it’s likely all of them had one thing in common — non-standardized or poor-quality data. Creating a project plan and formulating optimal decisions to improve a production environment has to start with quality MRO data. Without it, your projects may not accomplish critical objectives and therefore not attain the full success you anticipate.
In short, until the data from your MRO spare parts inventory and equipment bills of materials is standardized and enriched, it’s nearly impossible to achieve reliability goals. Most of the time, objectives are only partially met, leaving firm leadership to assume the full benefits they sought are out of reach.
Nothing could be farther from the truth.
By ignoring the need to standardize MRO data for your inventory and equipment, you are unable to make informed decisions about your MRO throughout its life cycle, creating a “snowball effect” of more costly failures impacting your maintenance and reliability outcomes:
- 22% of maintenance resources leave the storeroom without the right material in the right quantity.
- 30% of parts in the storeroom will never be used.
- 50% (or more) of open work orders result from parts not being available or ready.
- 26% of purchase orders require manual rework due to bad data.
- 30% of item data in catalogs is incorrect, with 15% of the catalog consisting of duplicates.
- 7% of inventory growth is due to non-moving MRO inventory.
Best-practices MRO data management contributes significantly to operational cost competitiveness for your company. Yet, to reach this pinnacle, it is imperative that every strategic plan begins with having the right data processes to standardize and govern your MRO data. We call this “recipe for success” Intelligent MRO Life Cycle ManagementTM.
Without it, decisions will be extremely problematic and success will remain unattainable. With it, data will become the foundation for achieving your reliability objectives.
Net Results Group’s solutions offer efficient, cost-effective ways to solidify the foundation of your MRO improvement projects. In collaboration with your stakeholders’ input, we create a comprehensive project plan and measurable business case that identifies critical KPIs and a hard dollar ROI of at least 28%.
In addition to this value, Net Results Group provides:
- Strong taxonomy of over 5,500 noun/modifier templates
- Database of millions of cleansed and enriched MRO parts information, either enabling you to cleanse your data quickly and efficiently or allowing us to perform the cleansing service for your firm
- Ongoing, cloud-based tool to ensure your data governance is maintained
- Efficient and effective method to creating asset hierarchies and bills of materials (BOMs)
- “Where used” approach to reporting that identifies all assets to which each MRO item is assigned
- Insight into inventory across storerooms and facilities
- Identification of obsolete MRO items with their potential market value
- Ways for your company to lower inventory values and not encounter out-of-stock situations
- Improved purchasing analytics to better leverage vendor buying power
In today’s competitive environment, we understand the imperative for your company to operate effectively as a low-cost provider. Success in such an endeavor begins with the foundational element of quality data, which is achieved by intelligent MRO Life Cycle Management.
Your success will be our success… our experience will get you there. Contact Net Results Group for a better understanding of how we can serve you.