Optimizing Critical Maintenance Spares and Material Inventories for Utilities
Utilities companies cut inventory bloat, reduce costs and improve service levels with Oniqua.
Today’s electric power providers face unprecedented market challenges. Shifting demand patterns. Aging infrastructure. Tougher regulations. Emerging technologies and business models.
From traditional power generation plants with aging transmission and distribution (T&D) equipment to new Smart Grid systems with renewable resources, power generation and T&D utilities depend on reliable, efficient, low-cost operation of assets.
An unplanned equipment failure can result in costly downtime. It’s about more than that though. In today’s energy marketplace, you have to maximize asset performance at the lowest possible cost.
That’s why electric power providers around the world like Tennessee Valley Authority, American Electric Power and Nebraska Public Power District rely on Oniqua. We’re helping these and other major utilities:
- Reduce the cost of procuring and managing spares inventories for generation and T&D assets while ensuring higher levels of reliability
- Boost MRO return on investment by optimizing spares inventories
- Improve the productivity of maintenance crews by ensuring they have the parts they need, when they need them
- Consolidate spares inventories across regions and distribution centers, or during mergers or acquisitions
Oniqua helps you significantly cut costs, prevent unplanned downtime and keep maintenance costs in line.
Michael, an inventory manager, and his supervisor Jeff review a memo from their CFO about the need to reduce inventory levels. They believe they have the raw data to help them solve their inventory bloat, but they also know their ERP system really wasn’t designed to help them optimize their inventory levels.
So, Michael researches the term inventory optimization, begins to read white papers and attends webinars and seminars on the topic. He ultimately learns that the best solution for his company would be to implement a best-of-breed analytics solution that’s specifically designed for MRO inventory management and optimization. After going live with Oniqua, Michael’s company reduces total inventory by $2 million in the first year.
Struggling to lower costs without hurting performance?
Steve, an inventory manager, sits down with his supervisor and explains his dilemma of trying to lower inventory and MRO costs while ensuring high levels of reliability. They both agree it will be important to involve maintenance and operations in the discussion.
After doing some research, Steve tells his supervisor that the solution comes down to forecasting and taking concrete actions, with confidence. But they both know their ERP system doesn’t provide the specific capabilities needed for their MRO-specific challenges. They decide that a better approach would be to find best-of-breed technology and an application with “smarts” that doesn’t require four more years of education. They find Oniqua fits the bill.
What can you do when you’re under constant threat of audit?
Stanley is the VP of Operations at a major utility company. When critical situations arise, he and his team make sure the right materials and spare parts get to the right team at the right location. They’re also concerned with avoiding stock-out costs and stocking obsolete items, both of which are highly visible and show up in regulatory audits.
With a massive quantity of different types of spare parts and materials, Stanley has been trying to manage the problem using his EAM system and homegrown inventory management systems. These tools have proven to be inadequate. Seeking more than a static snapshot of inventory, Stanley begins to explore systems that can provide strong reporting capabilities and prescriptive analytics. He is searching for a system that can provide specific, actionable recommendations on how to attack inventory bloat. He speaks to his colleagues at TVA, AEP and NPPD and they recommend Oniqua.
Master the Science of Inventory Optimization
Oniqua’s technology can optimize your MRO on an ongoing basis.
Prepare for Audits with Confidence