It’s hard to reduce inventory costs whilst delivering outstanding service, especially when product lifecycles are shorter and supply chains ever more complex.
Without effective service parts management, supply chains can become slow, costly, and unresponsive - and will ultimately lead to lost opportunities.
At iQor, helping Customers manage spare parts, repairs and complex service networks is our core competency and Supply Chain Management plays an important role in our overall Product Support Services offering.
A well-defined supply chain is critical to our best-in-class product support services and the application of supply chain management techniques provides a competitive advantage.
Our supply chain management programs include: Forecasting and Demand Planning, Sourcing and Procurement, Inventory Management, Supplier and Commodity Management and Product Life Cycle Management.
Our solutions include complex part relationship management and the ability to use Time-Phased Repair and Replenishment Planning, Multi Item Optimization (MIO), Multi Echelon and Optimization (MEO) which can optimize inventory balancing throughout an entire network.
One-Way and Two-Way Substitutions
Multiple Kits with Common Substitute Parts
Utilize Repairable Defective Material
Utilize Defective Returned Material to avoid unnecessary procurement
Manage Repair Asset Pool accounting for Scrap/Return/TAT inputs
Repair/Procure Order recommendations
Managing In/Out Warranty returns
Managing Failure/Usage Rates
At iQor, our planning and execution systems forecast service demand into the future using Historical Trends and Install Base data. A key functionality of this capability lets us apply multiple Forecasting Methods, Leading Indicators and Service Level Policies to track their “Best Fit” effectiveness.
On top of this we apply layers of advanced analytics to identify trends and imbalances in the entire end-to-end supply chain allowing us to be nimble, and to quickly adjust to mitigate risk of supply-outage or obsolescence exposure.
Working closely with key suppliers, iQor proactively identifies and mitigates risks, monitors and measures performance and manages compliance to contracts.