How Clean Data Unlocked $30.2M in Petrochemical Inventory Value
Despite massive working capital tied up in MRO inventory, a global petrochemical major struggled with inconsistent material records and an aging asset base that threatened production stability
Pain Points
~20K Material Master Records,
$33.5M Inventory Value
- Inconsistent Data Quality: Slower improvements in data quality due to a lack of standardized systems.
- High Duplicate Stock: Approximately 10% duplicate materials identified across the data set.
- Inflated Procurement Costs: Inability to leverage synergies and achieve benefits of scale in procurement price variance.
- Ineffective Inventory Utilization: Poor visibility hindering the optimal use of existing stock.
- Maintenance Compliance Risk: Difficulty in achieving 100% maintenance compliance due to incomplete technical data.
- Poor Data Visibility: Lack of actionable dashboards and data analytics for warehouse maintenance.
Solution
- Product Catalogue Management Implementation: Using a specialized tool to create and maintain standard, structured descriptions for Item Masters.
- Data Cleansing & Harmonization Process: Leveraging vast experience to standardize all data sets and generate accurate descriptions.
- Enterprise Master Data Management: Establishing a "Single Source of Truth" by cleansing 20,000 records and leveraging a preferred repository of 10M pre catalogued records.
Results
10% Reduction in Inventory Cost:
Achieved through improved effective inventory utilization and duplicate identification.
10% Reduction in Inventory Cost:
Achieved through improved effective inventory utilization and duplicate identification.
10% Reduction in Inventory Cost:
Achieved through improved effective inventory utilization and duplicate identification.
10% Reduction in Inventory Cost:
Achieved through improved effective inventory utilization and duplicate identification.
Stop over insuring your assets with excess stock.
We align your inventory levels with actual operational risk, delivering the perfect balance of fiscal discipline and mechanical uptime.
Shift your strategy from storing wealth to generating it.
We help you reclaim your working capital so you can reinvest in the future of your operations.
