The better an aerospace company’s maintenance, repair and overhaul strategy is, the fewer emergencies it will have when it comes to finding parts. An effective MRO procurement strategy ensures that a company has the parts it needs when it needs them to keep projects on track.
Unfortunately, many MRO providers do not have a proper procurement strategy. This lack of forecastingleads them to focus on problem-solving rather than preventing issues before they arise. “As soon as an emergent need is identified, they send a mass email to suppliers saying, ‘We need a part ASAP,’ and whichever supplier answers first typically receives the order, regardless of price,” said Jamie Barron, Vice President of New Source Corporation. “However, these situations can easily be avoided with the right partnerships.”
If a company has an aerospace materials supplier that properly manages demand planning and forecasting or has an internal MRO team of its own that does, then the manufacturer avoids problems like cost overruns, parts shortages and production delays.
New Source Corporation, for example, quickly provides high-quality aluminum extruded products and more, whether they are needed for maintenance, repair or overhaul, so that customers can keep their projects on time and within budget.
“It’s less stressful for them when we help because we plan for them based on their forecast,” Barron said. “If something unexpected does happen, however, our large inventory of stock can provide an immediate solution.”
In doing so, New Source Corporation helps customers avoid problems like costly aircraft on ground (AOG) challenges. With much at stake, an effective MRO procurement strategy is critical.
Working Closely with a Supplier
MRO organizations can often avoid paying exorbitant prices for rush items if they plan properly. For example, providing a supplier with a maintenance schedule helps them order parts before they are needed.
“If we know that you will need a part every three to four months, for example, we can plan to have it ready and shipped to you on time. You don’t have to pick up the phone and call us because it will already be on your dock,” Barron said.
New Source Corporation can help a customer be prepared for a repair by stocking large volumes of aerospace-grade aluminum. With the material already in-house, New Source can bypass long lead times and ship parts exactly when they are needed through its vendor-managed inventory services. “The more they can communicate with us, the more we can save them money and minimize risk,” Barron said.
In addition to being able to quickly complete the repair, the customer can also avoid paying a premium because New Source Corporation already has the part in stock and ships it only when it is needed. “If we had it available for their previous need, we would have it when they needed it again,” Barron said.
In unforeseen instances, New Source Corporation may be able to provide an alternate part to meet immediate needs. With such a robust inventory, orders can be turned around quickly. When it comes to overhauls, its extensive inventory and close communication with customers enables New Source Corporation to help MRO organizations avoid lengthy waits, even with supply chain challenges pushing deliveries of some materials out to 90 weeks or longer.
With the aircraft part market growing and a maintenance boom underway, an effective MRO procurement strategy is essential for keeping projects on time and within budget.
Do you have questions about aluminum extruded products for your MRO Needs? Contact us today! New Source Corporation will be happy to assist you in finding the product that fits your needs.