The adoption of an MRO taxonomy classifying inventory items and indirect materials, enables you to analyze inventory consumption through a single lens while taking better control of your MRO material procurement and inventory. An effective MRO taxonomy also helps maintenance, procurement, and operations teams to manage materials based on their attributes and specifications, rather than just based on an SKU number.
Applying a unified
For each attribute, the data dictionary also defines what attributes are mandatory, how it can be abbreviated for creating short descriptions, and the Units of Measure (UoM), where applicable.
The major benefits from implementing an effective MRO taxonomy are not just limited to improving data quality; a good taxonomy provides deep visibility to spend patterns, improves maintenance plans, reduces MRO inventory overstock, reduces procurement costs and enhances plant reliability.