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

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

Multi-Location Inventory Optimization

Posted by SiewMun Ha

6/11/15 2:49 PM

Many asset-intensive organizations stock Maintenance, Repair and Operations (MRO) inventory at multiple locations to cater to geographically-distributed demand. Where there are common items used at the different locations, it is advantageous for them to share this common inventory for greater efficiency. In doing so, they set up a network of interacting nodes that can be optimized to obtain additional inventory savings. Achieving these savings, however, requires a network-centric analysis to optimize the stocking decisions at each of the nodes, such that the global inventory in the network as a whole is optimal with respect to defined management objectives. Such an analysis is significantly more complex than that for a stand-alone location because the analysis must consider the interactions between the nodes, the stochastic nature of MRO inventory demand and supply as well as practical operational constraints.

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Topics: inventory optimization, inventory management

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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