Most companies need to maintain a stock of spare parts, supplies and
other materials that help keep their businesses running. Manufacturers
need components and tools on hand they can use to quickly repair
machines and keep production lines operating. Retailers and service
organizations need basic items like light bulbs, cleaning materials and
office supplies. Collectively, these items are known as maintenance,
repair and operations (MRO) inventory. Because MRO inventory can
account for a significant portion of a company’s overall procurement
spend, it’s important to apply efficient MRO inventory management
processes that minimize costs while ensuring the company has just enough
inventory to meet its needs.
