SDI Commissions Independent MRO Research
New findings on the MRO supply chain have been released from over 100 surveys through live interviews with executives of companies spending over $5 million in annual MRO.
A new study, commissioned by SDI, Inc., released recent findings on the challenges and trends in maintenance, along with the repair and operating (MRO) supply chain management. Independent market research organization IMTS conducted over 100 surveys through live interviews with executives from companies that spent over $5 million in annual MRO.
The inefficiencies, costs, and barriers to improvement associated with MRO supply chain were made evident in the conclusions of IMTS’ study and point to a great opportunity.
“Competition in the manufacturing industry is fierce and opportunities are fleeting. From a commissioned national survey of over 100 manufacturing executives, we found that only 45 percent of companies felt they were efficient in managing MRO assets. Those respondents who aggressively and professionally manage MRO assets have a distinct market advantage in supporting and achieving their goals,” said Andy Cvitanov, the chief executive officer of SDI. “Best in class companies spend little to no time searching for, acquiring and managing critical parts for production. Supporting this type of efficiency is at the heart of SDI’s offerings.”
Of the companies surveyed, 59 percent agreed that it is important or very important to optimize supply chain management. However, 40 percent of the participants claimed that management of the MRO supply chain is not a core competency and 55 percent stated that they are less than efficient in managing their MRO supply chain.
The cost of the MRO supply chain is fairly high with over 40 percent of participants spending greater than 10 percent of their maintenance budget and down time on locating and acquiring MRO parts. Respondents further identified complexity of process as the biggest challenge to better practices in managing the MRO supply chain.