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MRO SOURCING REDEFINED THROUGH SMART SUPPLY CHAIN
Posted on Mar 8, 2021 |
Posted in News |
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MRO stands for maintenance, repair, and operations. In terms of MRO sourcing, it refers to the products and tools such as electronic components, automation, and control, equipment related to testing and measurement, engineering tools and consumables that are utilized to keep an organization running.
In the ever-changing world, MRO sourcing has been redefined with the integration of advanced digital technologies such as IoT, blockchain, machine learning, artificial intelligence, predictive analysis, etc. This investment in supply chain technology has enabled corporate companies in cutting down expenditures, eliminating unnecessary links. This optimization of the number of links is also beneficial in lowering the associated risks in the process of shipping and receiving.
MRO stands for maintenance, repair, and operations. In terms of MRO sourcing, it refers to the products and tools such as electronic components, automation, and control, equipment related to testing and measurement, engineering tools and consumables that are utilized to keep an organization running.
In the ever-changing world, MRO sourcing has been redefined with the integration of advanced digital technologies such as IoT, blockchain, machine learning, artificial intelligence, predictive analysis, etc. This investment in supply chain technology has enabled corporate companies in cutting down expenditures, eliminating unnecessary links. This optimization of the number of links is also beneficial in lowering the associated risks in the process of shipping and receiving.
In the present post-pandemic scenario, all the gaps that were persistent in the pre-pandemic global supply chain have suddenly come to light. Today when everything in the world is spontaneously getting inclined towards the digital media platform. It is pertinent for the companies to switch to a digital smart supply chain to expand their growth curve as the scope for supply chain management is immensely great via the integration of technology. This paradigm shift has the potential to augment every step involved in the supply chain. With the help of this, inventory orders driven by AI will revolutionize the entire process of managing the supply and demand chain. With the efficient application and integration of digital advancements, a strong pull on the global economy will be vividly evident in the upcoming years.
It has also played a pivotal role in increasing the production uptime, enhancing maintenance efficiency, reducing downtime, and also lowering parts acquisition costs significantly. It also has a positive impact on efficient supercharge procurement by improving the process of strategic sourcing. Adopting digital technologies and automation will also help organizations become more agile in accepting the new normal post-pandemic. It has also created an additional advantage of improvisation of MRO spend visibility and enhancing data quality.