Story image

The impact of redesigning the MRO approach

Internet of Things (IIoT)-assisted machinery are proving highly valuable tools for plant owners keen to reduce operational expenditure (OPEX) in a volatile economic environment. 

Changing competitive landscapes and customer preferences, the emergence of advanced digital technologies, and the threat of price wars are compelling manufacturers to enhance their asset lifecycle to remain viable. 

Maintenance, repair, and overhaul (MRO) companies will gain a valuable competitive advantage by leveraging IIoT-based technologies such as Big Data & Analytics, cloud infrastructure, and mobility.

Frost & Sullivan research analyst Kiravani Emani says, "Digitisation of the manufacturing process has heightened demand for MRO distributors with the engineering expertise to support plant owners' transition from preventive to predictive maintenance. 

"This is changing the business model of MRO, as the distributors position themselves as end-to-end service providers that have embraced digital-based technologies."

Frost & Sullivan’s recent analysis, IIoT Predictive Maintenance, Redesigning the Maintenance Repair and Overhaul (MRO) Approach, 2018, identifies the key end-user requirements, unmet needs, and the role of IIoT technologies in redefining the value proposition of MRO distributors.

To optimally tap the market demand, MRO distributors need to simplify the supply chain by leveraging the online platform and embedding a track and trace feature to decrease the number of channels needed to procure the product.

Emanicontinues, "At present, the MRO market is witnessing rapid consolidation wherein distributors are aggressively expanding their product portfolio and global footprint. 

“Establishing a connected environment with strong IT and communication infrastructure will give accessibility to experts across locations and eventually, raise the value of IIoT-enabled predictive maintenance.”

Other key growth strategies to attract a wider pool of service customers include:

  • Building strong supplier relationship.
  • Establishing a robust e-commerce platform to enter emerging markets and serve small and medium-sized businesses.
  • Integrating inventories with automation software to control the company's spend on inventory management.
  • Developing a mobile application that enables effective management of plant inventories.
  • Providing support services round the clock.
Video conferencing in dire need of simplification, study shows
A Forrester study shows that 84% of companies are using two or more cloud-based video conferencing apps.
Three ways to achieve data security whilst enabling BYOD
"A mobility strategy is now more important than ever before, that said, selecting the right one is often no small task."
Mobile Infrastructure market sees fastest growth since 2014
The report from Dell’Oro shows that while the vendor rankings for the top three vendors remained unchanged with Huawei, Ericsson, and Nokia leading.
HPE unveils AI-driven operations for ProLiant, Synergy and Apollo servers
With global learning and predictive analytics capabilities based on real-world operational data, HPE InfoSight supposedly drives down operating costs.
Deloitte bolsters AWS offerings with CloudinIT
“By joining forces we can help even more organisations adopt cloud technologies and put their customers at the heart of their digital agendas.”
How IoT and hybrid cloud will change in 2019
"Traditional VPN software solutions are obsolete for the new IT reality of hybrid and multi-cloud."
Enterprises to begin closing their data centres
Dan Hushon predicts next year companies will begin bidding farewell (if they haven't already) to their onsite data centres.
Citrix acquires micro app platform Sapho
Sapho’s micro applications improve employee productivity by consolidating access to tools, activities and tasks in a simple and unified work feed.