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Stock management

Helping to increase the efficiency of your organisation's operation - whilst reducing your costs

For many businesses the capital tied up in holding spares for Maintenance, Repair and Operations (MRO) purposes can be many thousands of pounds.

This is often based on recommendations from machine suppliers and is not always the most effective and efficient means of protecting your operations from lost production due to breakdown. It is also common that this stock is used inefficiently with some products being old, obsolete or out of warranty, some products being duplicated, and at the other extreme bins allocated for critical items being empty. Reducing the investment in MRO stock will free up capital. However, the time and effort required to achieve this is a barrier to many companies.

Thorite has a team who identify cost saving opportunities within stores. We do this from the information we gather having first conducted a stores survey. Immediate cost saving opportunities can often arise by improving stock management through such processes as stock rationalisation, standardisation, consignment stock or stock back.

Key areas of analysis include costs of ordering, stock valuation and movement, energy consumption by plant/production line, and equipment efficiency.

The efficient control of stock reduces downtime, lowers inventory costs and increases performance efficiencies.

  • Analysis of products used, along with production line requirements, leads to a reduction of stock
  • Aligning products with production line requirements
  • Engineering improvements to promote better use of components, increasing performance in production
  • Single sourcing opportunities aligned to your business needs
  • Consignment stock
  • Stock buy-back

Thorite will carry out a comprehensive survey on all compressed air, pneumatic, vacuum, tooling and hydraulic (fluid power) stock and applications.

This will include the following:

  • Full inventory stock-take
  • Correct identification of all parts and manufacturers' part numbers
  • Itemise and catalogue all stocked items
  • Review all maximum and minimum stock levels
  • Identify redundant stock, fast moving stock and critical items
  • Adjustments to stock profile
  • MRO stock valuation

The resulting reports will identify what can actually be achieved in terms of:

  • Reducing your buying costs
  • Reducing your energy consumption
  • Reducing downtime
  • Improving efficiency

The conclusions will also identify what, if any, investments are required and pay back forecasts.

What our customers think

“Thorite supply a broad range of compressed air and fluid power equipment to IESA and we have always found them competitive and creative regarding cost saving projects. I would highly recommend Thorite as a fluid power supplier and look forward to dealing with them in the future.”

Ben Caldwell, Chief Executive - IESA Ltd

EEF - The Manufacturers' Organisation -- The Carbon Trust - Accredited Supplier -- CHAS - The Contractors Health and Safety Assessment Scheme -- BCAS - British Compressed Air Society -- SafeContractor Approved
Click here to see the track record of customer ratings and reviews for Thorite at Referenceline, where reputations count