Do You Trust Your Inventory Data?
MRO is a business function that can be pivotal to an organization’s growth and profitability and staying competitive in maturing markets. MRO expenditures are predicted to increase over the next five years, and it has become imperative for leaders to know that a fresh approach to these critical tasks can make all the difference.
If the Covid-19 pandemic taught us anything, it was that organizations need to reconcile the competing forces of uncertainty and unpredictability in stocking up MRO with supplies.
The uncertainty of supplies and the unpredictability of product demand led departments to guess what was needed and scramble to find the parts required to meet the uncertain market.
Manufacturers realized they needed to equip themselves better to control MRO expenditures. Automated storage and retrieval systems help control MRO expenditures while helping the MRO perform optimally and run efficiently.
Reduce Uncertainty and Improve Predictability
In the aircraft manufacturing and parts maintenance industry, an inefficient picking and storage process can have severe financial implications. The costs of wasted resources and operational inefficiencies can be significant, especially if parts go missing or real-time inventory tracking is unreliable.
Aerospace companies deal with a vast number of parts and components of varying sizes and weights, often with short lead times. Many of these same companies also rely on some degree of manual processes for inventory management. It doesn’t matter if it is one step in the process or ten steps, manual processes introduce the risk of human error. A simple mistake in counting or hitting the wrong number when recording information becomes a much bigger and more expensive issue when that misinformation is used to inform inventory orders.
By automating the storage and retrieval of the parts, it can capture data relating to inventory levels and traceability to which parts are used, by whom, and for which project. This data also helps predict future maintenance cycles and whether the right parts will be in place when that maintenance commences.
Benefits of having automated inventory picking and retrieval:
- Stock density optimization using accurate, continuous inventory updates
- Reduce the risk of human errors
- Secure environment
- Password protection ensures that only authorized operators with a personal badge and/or access code entry operate the machine.
- Full traceability of inventory
- Save valuable floor space
Transitioning Your Current Inventory Stock into a VLM
The process of physically moving inventory, counting, tagging, and organizing every piece stored in a VLM can seem overwhelming. Still, the benefits of efficiency, productivity and cost savings are significant. With the right implementation partner, the transition is seamless.
Tier1 MRO is an authorized dealer for Modula’s VLMs. Tier1 MRO’s consultants start with an audit and assessment of your current inventory operations and deliver options for automating and optimizing the process. Once the solution is approved, the Tier1 MRO team will manage the physical movement of inventory to the new automated retrieval system. This includes tagging and programming all existing inventory, integrating the inventory management software and building customized reports based on your business needs.
Modula’s VLMs are an efficient solution for aerospace and aircraft manufacturers and suppliers to reduce costs and prepare for future demand. Tier1 MRO offers a free assessment to help build the business case for automating your inventory picking and retrieval process.
