While materials data may seem obscure and intangible, the impacts of an MRO materials cleanse can be identified in various sectors of your company. Following a materials cleanse, one of the most significant benefits to your company can be seen in the return of investment (ROI) on your data cleanse.
Spend Less on Spare Parts
An MRO materials cleanse gives you an opportunity to ensure the information you have about your spare parts is accurate and to become more familiar with the attributes of your spare parts. An EAM system filled with accurate, detailed descriptions of its spare parts enables you to take what you know about the parts and seek them out elsewhere. You may be able to find other vendors who can offer these spare parts at a reduced price. You may even determine that there are certain spare parts you do not need at all and eliminating unnecessary spare parts from your parts inventory can result in massive savings for your company.
By contrast, if you have little to no knowledge of your spare parts’ attributes or the data is inaccurate, you do not have the power to make well-informed decisions about sourcing them.
Reduced Maintenance Costs
When asset managers are less likely to spend money on unnecessary replacement parts and the cost of spare parts sourcing has decreased, then the overall cost of maintaining equipment is reduced. This can also reduce the amount of money that would have to be spent to replace the production capability of the current assets in the plant – also known as the plant’s Replacement Asset Value (RAV).
Increased Wrench Time
If your EAM system contains inaccurate, obsolete, or duplicate spare parts data, maintenance workers can find it extremely difficult to navigate your EAM and will spend unnecessary time searching for the information they need to plan, schedule, or complete work orders. Having data that is accurate and easily searchable means that the time spent on maintaining equipment is reduced, which allows managers to allocate more resources towards productive wrench time. Overall, when maintenance workers do not have to waste time searching for spare parts, wrench time is increased.
Save Money and Increase Productivity
A materials cleanse is the right step towards improving the quality of your materials data, saving money, and increasing the overall productivity of your company’s maintenance and operations.
If you would like to learn more about how we can help your company save money with a materials cleanse, please contact our team!
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