The MRO Data Excellence Framework is a set of best practices and guidelines for managing in an organization. It is designed to help all functions ensure that their data is accurate, complete, and up-to-date across ERP / CMMS / EAM systems.

Major components of MRO Data Excellence Framework

• Accurate and complete data: This means having a comprehensive and reliable set of data that is as per ISO 8000鈥痙ata quality standard and free from any errors.
• Data Standards and Industry specific Taxonomy: a well-defined data taxonomy can ensure to cover a wide range of data parameters including data formatting, naming conventions, classification, category and many more.
• Robust data governance: Defining Policies, procedures, and controls to ensure data integrity, security, and availability.
• Data quality management: This involves implementing processes and tools to regularly assess, monitor, and improve the quality of the data.
• Data integration and interoperability: Integrating data from multiple sources and systems and ensuring that the data can be easily shared and accessed by different stakeholders.
• Data analytics and reporting: using advanced analytics and visualization tools to extract insights and trends from the data, and to provide meaningful and actionable reports to supply chain, procurement and maintenance activities.

Role of Data Governance in Data Excellence Framework

One key component of the MRO Data Excellence Framework is data governance. This involves establishing clear policies and procedures for managing MRO data, including how it is collected, stored, and used.

A robust data governance system ensures:

• Defining roles and responsibilities for data management within the organization
• Designing Implementing an industry specific data taxonomy
• Establishing processes to meet the ISO 8000 data quality standard
• Setting standards for data formatting and naming conventions
• Establishing clear policies and procedures for managing MRO data
• Developing a system for tracking and documenting data changes and updates
• Assuring appropriate permissions and safeguards are in place to control and secure data edit privileges

It is important to note that while data governance is a crucial component of the Framework, it is not the only one. Other components, such as data quality, integration, and reporting, are also essential for ensuring that MRO data is being used effectively to drive business value. However, if the data itself is of poor quality or is not properly integrated with other systems and processes, it will not be able to provide the insights and value that the MRO team is seeking. Similarly, robust reporting and analytics capabilities are necessary to extract meaningful insights from MRO data. Without the ability to analyze and interpret the data, it will be difficult for MRO teams to make informed decisions and optimize their operations.

Talk to one of our MDM specialists today to learn how you can implement MRO Data Excellence Framework at your organization and drive business value.

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One of the most important factors driving higher profitability is efficient cost management. How far is it practical for all organizations to reduce costs?

The majority of costs incurred by most organizations is on procuring direct and indirect materials. Many organizations fail to manage their MRO materials because of improper and inaccurate product classification. In addition, huge investments in tools do not yield desired results or the tools are significantly underutilized. And both these problems usually stem from the same issue 鈥� poor quality of data.

Supply chain transactions with poor quality data produce incorrect reporting and poor spend analytics capabilities. This in turn multiplies the risk of higher costs of sourcing, increases carrying cost and reduce visibility into sourcing inefficiencies.

Here are some of the most common scenarios we have seen firsthand of increased MRO spend arising from a poor data backbone.

• Scenario 1: Buying at a Higher price
  A company buying the materials like 鈥榖earing鈥� from a Non-preferred vendor, could result in higher costs i.e. Item purchased from Preferred vendor at $14 and Non-Preferred vendor at $20
• Scenario 2: Duplicate materials & vendors
  In several instances the same materials with unstructured description are purchased from different vendors at different prices ($8, $9, $11), which can vary between 25 to 60%
• Scenario 3: OEM vs Generic MRO materials
  In several instances, OEM materials are being purchased instead of generic MRO equivalents for 40-50% higher price i.e. OEM materials purchased at $110 while generic MRO equivalent was purchased at $60

These problems can be easily overcome by establishing a detailed product classification system, sanitized material data, proper descriptions / product meta data and a clean vendor master. This enables purchase price parity, volume rebates, and inventory optimization, among other cost savings and efficiency improvements.

At a recent supply chain forum, the Head of for a large Oil and Gas Company said 鈥�MRO Product Classification became a critical element in our overall spend analysis and helped in cost reduction initiatives. This enabled us to identify and establish preferred vendor agreements while converting costly OEM items to generic equivalents. Based on the newly established vendor relationships and reinforced buyer compliance, we are able to reduce annual MRO, direct & Indirect spend by over 12% in the first year, while significantly improving purchasing and procurement efficiencies鈥�.

The most commonly used Product Classifications are,

• UNSPSC – United Nations Standard Products and Services Code
• eCl@ss
• eOTD 鈥� ECCMA Open Technical Dictionary
• ETIM 鈥� European Technical Information Model
• CPV 鈥� Common Procurement Vocabulary
• NAICS 鈥� North American Industry Classification System

At 扣扣传媒, we serve clients leveraging any of the above systems or in some cases provide a customized data schema based on client requirements. Here is an example of accurate product information for a typical MRO item.

Are you looking to reduce your costs? Talk to one of our experts for a free consultation.

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The Client鈥檚 objective was to maximize their return on assets and they recognized a need for improved asset performance and accuracy of various spare parts inventory in their SA- ERP system. The biggest problems identified were the high MTTR (Mean Time to Repair) and high inventory costs. Major reasons for such hurdle being: non-availability of right spare parts and holding a high inventory level of parts caused by unorganized data management.

The Client realized that enhancing the data quality is the best way to improve the availability, reliability, and safety of the assets. They reached out to multiple MRO data catalog experts for bids. The unmatched expertise in mining industry-specific UNSPSC based taxonomy development, multilingual delivery, training on cataloging, all of these helped 扣扣传媒 to be their obvious reasons for the easy choice.

The project starts with an audit of sample data, a unique MRO data catalog covering all parts in the inventory and to implement a data governing system. Alongside, 扣扣传媒 would also deliver an in-depth training for their internal team on cataloging to maintain the quality of data. Led by Data Management Experts, 扣扣传媒鈥檚 focus in developing an MRO cataloging system eliminates duplicate data points, scrub out incorrect data, enhance and standardize the description which ensures the accuracy of the spare parts inventory. Accurate spare parts inventory would help effective management of spare parts, which results in lower inventory cost and ensures that the right parts are available during asset breakdown, thus minimize the downtime.

鈥淥ur expertise in multilingual UNSPSC based cataloguing clearly edged out other competitors in the bid. Handling large data volume with accuracy and speed helped us to win this large deal. The engagement enables the client to have real-time visibility into their inventory and able to predict the ability to meet maintenance demands through the enhanced inventory accuracy, real-time access into fill rate, stockout rates, and inventory turn鈥� said the Head of Data and Asset Management Solutions at 扣扣传媒.

The client is expecting tangible outcomes with this comprehensive solution and is expected to engage 扣扣传媒鈥檚 for other plants, during the next phase of the project, scheduled to start in a few months.

About 扣扣传媒:

扣扣传媒 (enventure.com) is a privately-held, ISO 9001-2015 & ISO 27001-2013 certified Engineering and Master Data Management Solutions company, with full-fledged delivery centers in India. 扣扣传媒 has been serving clients in North America and Europe since 1997 and is today a preferred supplier of engineering and master data management services to Fortune 500 companies, across different industry verticals such as Hi-tech Electronics, Oil & Gas, Mining, Water Treatment, and Industrial Manufacturing. 扣扣传媒 provides a wide variety of services to Clients, in areas such as Plant Design Engineering, Building Engineering, Product Design, Technical Documentation, Component Engineering, Environmental Compliance聽Support and Master Data Management.

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