ScottMadden, Inc., one of North America’s leading energy consulting firms, recently joined forces with Oniqua, the leader in MRO spares and materials inventory optimization for asset-intensive industries, to conduct a cross-industry spare parts inventory benchmarking survey. This summary shares the highlights from the survey—some expected and some surprising.
Inventory optimization is a cross-functional sport which requires the right infrastructure to improve performance, reduce cost, and boost return on equity. What are the key inventory optimization practices and performance metrics? What are the top inventory management challenges?
This report provides industry practitioners with relevant and informative data to improve their strategic approach to inventory management and optimization. By providing lessons from other companies facing similar challenges across the globe, this report offers valuable insights for those seeking to master the science of inventory optimization.
“We believe this year’s survey provides an excellent window into not only what the challenges are in managing inventory in support of industrial assets, but also the distinguishing elements of those who are performing at the top end of the industry. We’re eager to share our fresh insights to help move the needle when it comes to improving on the status quo,” said Andy Flores, partner at ScottMadden.
“Through our decades of experience, we have found that asset-intensive companies, including mining, oil and gas, utilities, and manufacturing, face common inventory management challenges,” stated Steve Herrmann, executive vice president of sales and marketing at Oniqua. “With a cross-industry perspective, this is the only benchmarking study of its kind in the industry that provides in-depth insights on how asset-intensive companies are optimizing their spare parts inventory.”
If you would like to purchase a copy of the detailed survey results or talk to us about your inventory management challenges, please contact us.
Oniqua provides Intelligent MRO (maintenance, repair and operations) capabilities that are transforming the way Oil & Gas, Mining, Utilities and Manufacturing companies manage their capital-intensive assets. Oniqua’s unique cloud-based offering combines the world’s most advanced MRO analytics technology with analyst services, consulting, master data cleansing and industry expertise to optimize the performance of materials management and operations & maintenance activities. Oniqua does the “heavy lifting” on behalf of customers so they can achieve rapid benefits in the form of reduced waste and costs, minimized risks, greater efficiencies and smarter decisions across their MRO operations. Oniqua is proud to serve many of the world’s largest energy and resources companies, including ConocoPhillips, BP, Occidental (OXY), ADMA, BHP Billiton, Tennessee Valley Authority (TVA), American Electric Power (AEP), Nebraska Public Power District, Rio Tinto, Newmont Mining, Xstrata, and Freeport McMoRan and many others. To learn more, visit www.oniqua.com | LinkedIn.
About ScottMadden’s Energy Practice
We know energy from the ground up. Since 1983, we have been energy consultants. We have served more than 400 clients, including 20 of the top 20 energy utilities. We have performed more than 3,000 projects across every energy utility business unit and every function. We have helped our clients develop strategies, improve operations, reorganize companies, and implement initiatives. Our broad and deep energy utility expertise is not theoretical—it is experience based.
About ScottMadden, Inc.
ScottMadden is the management consulting firm that does what it takes to get it done right. Our practice areas include Energy, Clean Tech & Sustainability, Corporate & Shared Services, Grid Transformation, and Rates, Regulation, & Planning. We deliver a broad array of consulting services ranging from strategic planning through implementation across many industries, business units, and functions. To learn more, visit www.scottmadden.com | Twitter | Facebook | LinkedIn.