Store Room Management
Store Room Management is a combination of software and customizable storage which offers manufacturers an efficient, accurate system for storeroom inventory management which can maintain all consumables at appropriate levels, and increases productivity by minimizing maintenance downtime for the equipment
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Store Room Management market report transcript
Global Market Outlook on Storeroom Management
- Logistics suppliers are able to leverage their expertise in material handling, warehouse management, and implement MRO storeroom management in manufacturing plants for certain common domains, such as packaging
- When logistics supplier's existing relationship with the buyer is strong and long term, then there is a tendency for buyer to extend this relation into MRO services, like storeroom management, inventory management, etc.
- For tobacco industries with comparatively lesser machinery and spare parts, the visibility of spare part demand is easy to predict, hence buyers can engage with logistics providers
Sourcing from MRO integrators provide large buyers the option of not only buying spare parts, but also maintaining and servicing the same. Buyers who want to reduce the burden of logistics & freight costs in their MRO integrated supply program can afford to engage with companies, like DHL, DB Schenker, etc., but buyers may risk on long-term savings on their TCO, which is effectively promoted by integrators.
Sourcing from MRO Distributors
- The spare part distributers have lesser capability, in terms of maintaining and servicing spare parts
- They also have a healthy portfolio of spares products, since they cater to many industries across geographies
- Better awareness and experience on client's plant maintenance
Sourcing from Logistics Provider
- Logistics provider's core strength is warehousing and as a result have good infrastructure to warehouse MRO spare parts
- Uninterrupted services and integration of buyers ERP/SAP with logistics suppliers, WMS, TMS, etc.
- Lesser experience is plant maintenance program compared to distributors & integrators
Sourcing from MRO Integrators
- The MRO integrators have the capability to provide supply, service, and maintenance of spare parts to the buyer
- By bundling the services, the MRO integrators provide the cost savings opportunity to the buyer
- Large volume buyers in the developed regions are moving toward MRO integrators for spare parts procurement for leveraging cost-savings opportunity
Storeroom Best Practices: Kanban Stock
- It is crucial to forecast and have visibility from the very beginning of the storeroom management program, as to which parts are required and which need not even be ordered and stocked to create obsolescence at a later stage. This can only be done with a strong inventory plan to complement storeroom services
- Kanban is one of the key systems of inventory management, where only the needed spare parts are stocked
- This means keeping inventory levels as low as possible, but also need to be careful and ensure that this strategy does not backfire and impact the maintenance and repair program
- It is a good method to implement on all low value fast moving parts, as visibility of consumption is better
- This strategy helps to reduce the physical and administrative handling cost and reduces the time taken to walk around the store and find parts. This is done by storing parts in bins and aided by using Scanner or RFID Technology