Oniqua Intelligent MRO Blog

Planning for Offshore Asset Decommissioning

Posted by Steve Pak

5/6/16 9:31 AM

Planning to decommission offshore assets is a difficult, complicated and potentially expensive undertaking. While the asset is still in operation, the production integrity and safety of the staff is paramount. The operator has a full range of maintenance, repair and operations (MRO) inventory which supports the efficient and safe operation of the asset at full capacity. This inventory has a wide range of usage, demand, availability and criticality.

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Topics: inventory management, asset management, decommission assets

Managing Surplus Maintenance, Repair and Operations Inventory

Posted by SiewMun Ha

3/29/16 12:12 PM

Surplus Maintenance, Repair and Operations (MRO) inventory, defined as stock-on-hand in excess of maximum levels, is an unfortunate reality at many asset-intensive organizations. Surplus inventory is undesirable because it increases holding cost and also ties up scarce resources – capital, warehouse space and manpower – at the expense of items that are more urgently needed by the organization. It is not uncommon for surplus inventory to make up a significant fraction of total inventory at many organizations and, since it increases cost but not inventory performance, it represents a logical target for inventory-reduction initiatives.

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Topics: inventory management, MRO inventory

DevOps = less waste, happier customers, better products

Posted by Carlos Fairgray

11/24/15 2:08 PM

Introduction

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Topics: DevOps

Why MRO Inventory Optimization Should be a Core Competency

Posted by Dan Miklovic, Principal Analyst - LNS Research

10/29/15 12:16 PM

Spare parts: sounds like a relatively simple activity, yet for many organizations that have otherwise embarked on an Asset Performance Management (APM) journey it is an area where they’re terribly inefficient.
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Topics: inventory optimization

50% of Unplanned Downtime is Due to This One Thing

Posted by Steve Herrmann

10/13/15 2:27 PM

An old joke has a man on his hands and knees, crawling around under a street light in the darkness of night. A passerby finds his actions curious, and stops to ask what he’s doing.

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Topics: inventory optimization, unplanned downtime, MRO

Application of Machine Learning in MRO Inventory & Maintenance Management

Posted by SiewMun Ha

9/29/15 2:32 PM

The application of Machine Learning has the potential to address a common problem in MRO inventory and maintenance management. Machine Learning is a branch of Artificial Intelligence (AI) with algorithms that can learn from and make predictions on data. This capability can be deployed to infer missing pieces of critical information to improve inventory and maintenance management. 

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Topics: inventory management

MRO Inventory Optimization: Some Things are Just Good APM Investments Regardless of Energy Prices

Posted by Dan Miklovic, Principal Analyst - LNS Research

9/14/15 11:08 AM

It has been a wild year in the energy sector, particularly in Oil & Gas.  Crude prices have fluctuated wildly, particularly in the third quarter of this year.  Many upstream and integrated producers are feeling the pressure and even downstream-only companies while benefiting from lower raw material costs are all wary of spending right now.  This is a dangerous situation in that as tight as revenue might be, some opportunities are just so great it doesn’t make sense not to invest, even now.  Asset performance management (APM) is one area that has such a strong influence on safety, environmental and productivity issues that even though times might be tight, skimping now is more dangerous than spending.  One particularly cost effective area within APM to invest in now is MRO inventory management AND optimization.  This is an area where relatively small investments can yield some substantial payback.  What’s worse than equipment breaking? Not having the materials to repair it when it does.  The other side of the equation is carrying such a large just-in-case spares inventory that today’s slim profits are further eroded by inventory carrying costs and out dated material disposal costs. 

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Topics: inventory optimization

Workgroup Motivators for MRO Inventory Optimization – Part 2

Posted by Matt Haunold

8/24/15 10:25 AM

Previously I spoke about what motivates stakeholders around the MRO Inventory Optimization process.  This time I want to look at how we can appeal to motivators of the stakeholders.

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Workgroup Motivators for MRO Inventory Optimization – Part 1

Posted by Matt Haunold

8/3/15 2:25 PM

To gain the best possible outcomes when undertaking Maintenance, Repair and Operations (MRO) inventory optimization, a business-wide buy-in of the process is essential. From finance to maintenance, a team approach will increase the business’s ability to gain maximum benefits.

Rightsizing of the inventory has always shown an ability, despite initial misconceptions from workgroups external to MRO supply chains, to achieve desirable outcomes of diverse stakeholders. In order to gain buy-in from these workgroups, it’s important to understand what might motivate them to be part of the MRO Inventory Optimization process in the first place. Here are several motivating factors:

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Topics: inventory optimization

MRO Inventory Optimization: Analytics & Human Emotions

Posted by SiewMun Ha

7/15/15 5:29 PM

It is relatively easy for organizations to deploy advanced MRO analytics to identify and quantify optimal inventory solutions, but human issues should also be addressed to achieve maximum solution effectiveness.

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Topics: inventory optimization

What is Intelligent MRO?

The smartest way to optimize MRO spares and materials

Intelligent MRO is about using advanced analytics and best practices to:

  • Minimize cost, waste and risk
  • Maximize service levels and asset performance
  • Improve resource and process efficiencies
  • Drive bottom line results

Get the latest perspective from maintenance, repair and operations professionals in oil and gas, electric utilities, mining and other asset intensive industries right here.

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