Below are examples of Net Results Group helping optimize client MRO practices.
Accurate, Useable BOMs:
The problem: A company realizes the Bill Of Materials for its MRO items is confusing and often incorrect. Different words describe the same function and the people who identified the parts sometimes guessed the part name and function (and often guessed wrong). Spares are not found quickly (if at all). Poorly made BOMs sabotage effective decision making for capital spares.
How Net Results Group Helps:Net Results Group builds BOMs quickly and accurately using their MRO3i™ tool and the “Where Used” exercise of walking down the company’s storeroom, itemizing spare parts and assigning them to an asset hierarchy constructed specifically for the company. During this process, the company does NOT need to stop production, and the MRO3i tool captures each part’s information with absolute certainty regarding its technical attributes. Without shutting down production, between 75-85% of each equipment’s total parts are itemized. A short shut-down allows the remaining 15-25% to be captured – typically completed during a regularly scheduled PM outage.
The Benefits: There is no guessing by the person identifying the parts about each part’s attribute – each attribute’s data descriptions are standard and consistent. The tool instantly recognizes and assigns the part number to all associated assets. With MRO3i, building a BOM is efficient, user-friendly, and unquestionably accurate. The “Where Used” exercise ensures PM outages are even briefer due to the highly accurate input obtained from the MRO3i tool. Return on investment is realized by parts being issued accurately and found quickly in the storerooms during every future PM.
Regain Control and Compliance:
The problem: A company recognizes its abundance of MRO spares in the storerooms, unidentifiable parts, and even obsolete MRO stock. The Maintenance department has difficulty managing the tens of thousands of its SKU’s. The operations department questions its equipment’s sustainability and their ability to pre-empt a failure. The finance team worries about the amount of capital allocated to dead stock and the accuracy of its accounting for the value of this inventory.
How Net Results Group Helps: Net Results Group deploys its MRO Insight™ process starting with the self-assessment instrument to determine the company’s baseline measurement. Net Results Group collaborates with the company in a physical walk down on-site to build the enriched database, cross-referencing every MRO item and its associated equipment, use, manufacturer, and procurement consideration. Analyzing this data to identify MRO items and quantities critical to operational sustainability yields an optimized procurement strategy which streamlines the MRO inventory holdings.
The Benefits: With a more efficient replenishment strategy, the Maintenance department holds more optimal inventory on-site and leverages just-in-time supplier deliveries. With improved parts management and visibility, Operations is more confident in the maintenance and performance of its capital equipment. The Finance department realizes more cash flow to invest in higher earning projects that otherwise would have been used to purchase unneeded MRO inventory, and the company complies with fiscal reporting standards including Sarbanes-Oxley (Section 409).
New Build/Initial Provisioning:
The problem: A growing company is evaluating bids for new capital equipment as part of a planned expansion. To make an informed decision, the company needs help understanding the capital spares requirement for each bid.
How Net Results Group Helps: Net Results Group uses its decades of experience and proven proprietary MRO Invest ™ methodology to determine Total Cost of Ownership for each bid option based on price, warranty conditions, performance, and maintenance requirements. This information informs the bid award as Net Results Group determines the optimized MRO inventory and spares procurement plan to support the new equipment and maximize its sustainable life cycle.
The Benefits: This proactive approach ensures the company achieves the greatest return on its capital investment.