Published January 4, 2017
An estimated $500 billion is spent on MRO yearly in the USA. Experience shows that approximately 30% is spent on one-time, non-inventory spot buys. Therefore, 70% is purchased for MRO inventory.
The inventory in a typical MRO storeroom turns over just once, so one could conclude that there is $350 billion existing in inventory. Therefore, considering the cost of inventory retention, inventory reduction represents a huge opportunity for cost savings.
Master Data Leadership can play a significant role in delivering those reductions. How?
Read more at MyPurchasingCenter.com.