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Verusen announces the findings of its Future Strategies for MRO Optimization survey. The survey by Verusen, WBR Insights and ProcureCon MRO, focuses on the current state and future evolution of MRO materials and spare parts management, highlighting its strategic importance, existing challenges and opportunities.
"The survey highlights a critical need for organizations to align their MRO practices with broader business goals to drive strategic value," says Chris Rand, head of research at WBR Insights. "By leveraging advanced technologies and improving data uniformity, companies can transform MRO from a cost center to a source of innovation and competitive advantage."
Key Takeaways:
- Nearly three-quarters (71%) of the 250 procurement and operations leaders surveyed think MRO procurement/operations should be treated as a strategic initiative for continuous improvement and a potential innovation source. However, just over half (58%) of respondents note that MRO procurement/operations are treated as strategic organizational initiatives.
- Balancing MRO working capital and risk has become increasingly important as large asset-intensive industries such as oil and gas, mining, energy and utilities, resources, and heavy manufacturing seek solutions to optimize their MRO inventories, spend, and risk with deeper intelligence. Roughly half of organizations need to take a risk-based approach, as the survey found that 46% of organizations do not include asset criticality (spare parts deemed the most critical to continuous operations) in their materials planning process.
