More Ways to Save Money with a Materials Data Cleanse

Understanding the benefits of a materials data cleanse can be tricky. After all, your organization’s spare parts data is not something physical you can hold in the palm of your hand and watch as it changes and improves. In general, data can be more obscure and intangible than that. If we’re considering the return of investment (ROI) on a materials data cleanse, there are some other factors and figures we can look at that can help us understand the rewards of a good cleanse.

How a materials cleanse can help you save

1. Spend less on spare parts: We already covered this in a recent blog, but a materials cleanse can help you discover cheaper alternative sources for buying spare parts as you become more familiar with their characteristics. It can also prevent misorders that happen when purchasing departments restock on the wrong spare part or on spare parts that aren’t actually needed due to inaccurate spare parts data.

2. Reduce maintenance costs: When asset managers are less likely to spend money on unnecessary replacement parts, then the cost of maintaining equipment will be reduced. By extension, this can also reduce a plant’s replacement asset value (RAV), the amount of money that would have to be spent in order to replace the production capability of the current assets in the plant. Having data that is accurate and more easily searchable can also mean that the time spent on maintaining equipment is reduced, allowing managers to allocate more resources towards productive wrench time.

3. Make more use of wrench time: As we’ve said again and again in our blogs, plant workers can spend an unnecessary amount of time simply searching for the information they need because the inaccurate, obsolete, or duplicate data in their EAM system is difficult to navigate. In fact, on average, only about 40% of the average maintenance worker’s workday is spent performing actual maintenance work because of this. A materials cleanse can increase wrench time and allow workers to do the work that they’re paid to do, rather than waste time looking for the spare parts that they need.

“The savings for misordered parts alone paid for this solution,” said a large American manufacturer who reached out to NRX AssetHub for help with their spare parts management.

Save more and do more

If you’re a manager who knows the difference a good data cleanse can make, but are having trouble convincing other key decision-makers to take the leap, consider showing them the above list of ways that a materials cleanse can save money. If you’d like to learn more about materials cleansing, click on one of our resources below, or book a demo to see how NRX AssetHub can help you start saving!

Checklist for a Complete Materials Solution

NRX AssetHub for Spare Parts Management

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