M2K offers the following Material Management Services:
Material Categorization is a process used to record each material item with all details such as specifications, standards and descriptions. Thus providing easy identification, developing appropriate buying descriptions, procuring when needed and avoiding inventory duplicates.
M2K can codifying and format each MRO (Maintenance, Repair and Operations) spare item as per international standards such as ECCMA, ISO 9008 with the help of a specialised proprietary tool MCAMS®. This software package develops complete buying descriptions for each MRO spare.
The complete list of spares by vendor / supplier is reviewed for completeness and gaps in spares requirements identified. The data is used to develop spares interchangeability records / lists and quantify the numbers to stock, in order to build appropriate BOMs (Bills of Materials).
When material data documentation is unavailable or is unable to be identified, M2K can support in identifying the material items through physical verification methods. M2K personnel will be deployed at client warehouses to collect the necessary details and to identify and build appropriate material item data & descriptions.
Inventory Optimization analysis evaluates the inventory hold policy for each spare part associated with an asset. A structured review and analysis of the existing inventory policy, stock levels, service level requirement based on e.g. consumption pattern and maintenance strategy will identify the optimum purchase quantity and re-order time. The analysis will also take in to consideration the lead-time stock, safety stock and minimum level.
Binning needs are developed or reviewed based on the material type, its storage requirements and the prevailing conditions. Reconciliation activities can ascertain the availability of materials in warehouse bins & yards and its quantities. The reconciled data can be updated into client ERP systems.