MRO Analytics tools produce benefits both within MRO processes and beyond. The actual results achieved vary from business to business, depending on the asset base, process type, geographical distribution and business maturity.
Businesses that benefit the most are typically large, multi-site, process or manufacturing operations where over 15% of expenditure and over 60% of transactions relate to MRO materials and activities. In addition:
- They are vulnerable to high equipment downtime costs
- Their operations involve exposure to safety and environmental risks
- Continued asset function is vital for customers or communities
- Administration uses one or more EAM or ERP systems
- MRO inventory runs to tens of thousands of line items and has a value of several million dollars
- Very high value inventory items are used infrequently, if at all
These businesses aim to achieve
- A rapid, positive change in operational performance and efficiency
- Optimised maintenance costs
- Better equipment availability
- Compliance with corporate and statutory operational risk management goals
- High operational asset resilience in the face of external threats
- A correctly sized MRO inventory stock
- Lower inventory replenishment costs
- Reduced stock-out risk
- Improved supplier performance.
- Rapid return on investment on business improvement projects.
Implementing MRO Analytics tools enables you to make auditable, defensible and transparent MRO decisions across your enterprise based on sound data, which is a key objective for ISO55000 compliance.