Monthly Archives: February 2022

Inventory makes up for the maximum spending of a company.  Buying inventory is not just raising a purchase order. Rather it is about paying close attention to how much inventory companies should order and when to do it to reduce carrying and storage costs. A very important aspect of inventory management is negotiating good deals with MRO suppliers.  Negotiating deals is not picking the lowest quote but creating a situation that is a win-win for your company as well as suppliers. Negotiating good deals help you build better relationships and deliver good quality products at the end of the day. 

As one of the leading e-marketplaces for genuine and unused MRO spares, we share a few tips on how to negotiate better deals for MRO products:

Know your product requirements: As an MRO buyer, before you start negotiating or contacting suppliers, it is important that you are clear on your requirements. If you have more than one factory or industrial set-up, it is best to consolidate the order

Inventory is one of the most crucial aspects of any business. Inventory management techniques can make or break business. For small businesses, inventory management is all the more crucial as it allows them to save money and improve cash flow. An effective inventory management system allows small businesses to accurately track incoming and outgoing goods and provides real-time data that help make informed buying decisions. 

As one of the leading e-marketplaces for genuine and unused MRO spares, we share tips for small businesses to effectively manage MRO inventory: 

Choose a method that works for your business: When it comes to inventory management, there are many types of methods used across industries. One of the most common ones are FIFO and LIFO. The first-in-first-out (FIFO) strategy means the oldest inventory items are always the first to go. This means, the businesses will not be left dead stock. Under Last in, first-out (LIFO), the most recent products in the inventory gets sold

Industry 4.0 is currently revolutionising the manufacturing sector. But what exactly is Industry 4.0 and how does it work? Industry 4.0 is the German strategic initiative that aims to improve the way companies manufacture and distribute their products. Industry 4.0 can be characterised by use of technologies such as artificial intelligence, data analytics and internet of things throughout manufacturing operations. The aim of the Industry 4.0 is to optimise the production output through an efficient collaboration of man and machine. For many companies, spare parts management is a complex system that demands intelligent management. 

As a leading e-marketplace for unused and genuine MRO spares, we share with useful insights on Industry 4.0 and how it is helping the manufacturing industry: 

Acceleration of processes through automation: Artificial intelligence, advanced robotics and sensor technology have the potential to make processes more efficient. For instance, thanks to artificial intelligence,