Inventory Analysis

Process

• Review catalogues

• Review procedures

• Review stocking policy  
  
  

• Fast / Slow moving, Insurance & critical spares

• Shelf-life & ageing analysis

• Lead time

• Ordering and carrying cost

• Stock-out cost compared to Stocking cost  
  
  

• Identify the risk associated with not stocking the item

• Commonize / Generalize, Standardize and reduce variety

• Review Vendors

• Review IT / Technical support to Materials / Maintenance

• Develop / Document correct procedure / methods

Benefits

• Eliminate inventory of non-moving items

• Eliminate duplicates

• Improved inventory accuracy and spend analysis

• Enhanced service level at minimum cost

• Optimized inventory

• Reduced ordering and carrying cost

• Improved turn-over ratio

• Avoid over stocking

• Optimized lead times

• Eliminate false stock outs

• Strategic sourcing

• Avoid emergency/off-contract purchasing

• Reduced operational down time

• Supply automation and e-business

Process

• Review initial spares (for new projects & expansion) and recommend two years’ operating spares based on

• Criticality

• OEM components / Indigenous availability

• Wear parameters

• Mandatory renewable spares

• Repairable / machinable items

• Identify equipment / component  interchangeability within the system / plant

Benefits

• Non availability of spares minimized

• Alternate sources of spares for OEM items identified – easier procurement – lower lead times

• Eliminate stocking same or near equivalent spares under different categories

• Required spares are readily available at all times

• Reduced inventory cost

Cataloguing

Process

• Classify and group your material database by their common function/applications

• Cleanse,  extract attributes and standardize the data

• Analyze duplicates and De-duplicate

• Enrich and enhance your data

• Review Data Consistency & Standards

• Perform quality check

• Export data as per your format  

Benefits

• Easy and accurate identification of materials

• Reduced risk of duplication

• Avoid over stocking and optimized lead times

• Eliminate false stock outs

• Strategic sourcing

• Avoid emergency/off-contract purchasing

• Reduced operational down time

• Accuracy of Spend analysis

• Supply automation and e-business