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.
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:
The resulting reports will identify what can actually be achieved in terms of:
The conclusions will also identify what, if any, investments are required and pay back forecasts.