The Opportunity
The client’s inventory processes lacked ownership, alignment, and reliable data. With over 5 million part numbers, inconsistent tracking, and no centralized visibility, the business struggled to manage costs or plan effectively.
Challenges
Increase asset utilization by reducing time waiting
on parts and decrease cost per pumping hour of
R&M spend.
Specific Issues
- All repair and maintenance inventory was the responsibility of many and the accountability of no one. Roles and process were not consistent nor defined.
- Multiple disconnected systems in use to manage procurement and asset allocation of inventory
- Lack of master data control leading to 5M+ part numbers
- Lack of confidence in inventory value
- >XX% of operational assets waiting for parts to repair
The Solution
People:
- Establish a regional structure with accountability
and scalability - Align performance incentives across Warehouse and
Maintenance - Upskill existing team and provide career path
Process:
- Install processes and discipline
- Measure process effectiveness through % assets
down for parts and Inventory Accuracy
Platform:
- Create backend integrations allowing full visibility of
items and cost from point of purchase to asset
allocation - Identify part duplication and install procurement
catalog management ensuring fit for purpose part
application and controlled spend