WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Technology Software Products Monday, June 18, 2018 
Add Press Release News | News Feeds Feeds | Email This News Email


One-stop Shop MRO Distributors Best Positioned to Tap Growth Opportunities Created by IIoT-Enabled Plants
Thursday, June 14, 2018

Distributors that offer value-added/after-sales services have a distinct edge over mere suppliers of equipment parts, says Frost & Sullivan

LONDON, June 14, 2018 /PRNewswire/ -- Industrial Internet of Things (IIoT)-assisted machinery are proving highly valuable tools for plant owners keen to reduce operational expenditure (OPEX) in a volatile economic environment. Changing competitive landscapes and customer preferences, the emergence of advanced digital technologies, and the threat of price wars are compelling manufacturers to enhance their asset lifecycle to remain viable. Maintenance, repair, and overhaul (MRO) companies will gain a valuable competitive advantage by leveraging IIoT-based technologies such as Big Data & Analytics, cloud infrastructure, and mobility.

"Digitization of the manufacturing process has heightened demand for MRO distributors with the engineering expertise to support plant owners' transition from preventive to predictive maintenance," said Kiravani Emani, Research Analyst for Industrial Automation & Process Control at Frost & Sullivan. "This is changing the business model of MRO, as the distributors position themselves as end-to-end service providers that have embraced digital-based technologies."

Frost & Sullivan's recent analysis, IIoT Predictive Maintenance--Redesigning the Maintenance Repair and Overhaul (MRO) Approach, 2018, identifies the key end-user requirements, unmet needs, and the role of IIoT technologies in redefining the value proposition of MRO distributors.

For further information on this analysis, please visit: http://frost.ly/2jd

To optimally tap the market demand, MRO distributors need to simplify the supply chain by leveraging the online platform and embedding a track and trace feature to decrease the number of channels needed to procure the product.

Other key growth strategies to attract a wider pool of service customers include:

    --  Building strong supplier relationship;
    --  Establishing a robust e-commerce platform to enter emerging markets and
        serve small- and medium-sized businesses;
    --  Integrating inventories with automation software to control the
        company's spend on inventory management;
    --  Developing a mobile application that enables effective management of
        plant inventories;
    --  Providing support services round the clock

"At present, the MRO market is witnessing rapid consolidation wherein distributors are aggressively expanding their product portfolio and global footprint. Establishing a connected environment with strong IT and communication infrastructure will give accessibility to experts across locations and eventually, raise the value of IIoT-enabled predictive maintenance," noted Emani.

IIoT Predictive Maintenance--Redesigning the Maintenance Repair and Overhaul (MRO) Approach, 2018 is part of Frost & Sullivan's global Industrial Automation & Process Control Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

IIoT Predictive Maintenance--Redesigning the Maintenance Repair and Overhaul (MRO) Approach, 2018
MDA0-10

Contact:
Edyta Debowska
T: +48 22 4816203
E: edyta.debowska@frost.com

http://ww2.frost.com

View original content:http://www.prnewswire.com/news-releases/one-stop-shop-mro-distributors-best-positioned-to-tap-growth-opportunities-created-by-iiot-enabled-plants-300666338.html

SOURCE Frost & Sullivan



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav European Businesses Select SAP® SuccessFactors® Solutions to Help Drive Digital HR Transformation | Jun 18, 2018
Nav Codewise's Dr. Rzeszuci ski Joins the European AI Alliance, Launched by the European Commission | Jun 18, 2018
Nav Crelate Launches Text Messaging to Help Recruiters Better Engage Candidates | Jun 18, 2018
Nav New Vice President of Information Security and Chief Information Security Officer Joins Atmosera | Jun 18, 2018
Nav Independent Research Firm Names Salsify a Strong Performer in Product Information Management Solutions | Jun 18, 2018
Nav Global Air Mattress and Beds Market 2018-2022 | Jun 18, 2018
Nav Sentry Data Systems Expands its Relationship with RWJBarnabas Health to Help Reduce Pharmacy Costs and Improve Patient Care | Jun 18, 2018
Nav Attunity Named by DBTA as a Top 100 Company in Data Management and Analysis for Sixth Consecutive Year in 2018 | Jun 18, 2018
Nav Top 35 Bank Selects LoyaltyExpress CustomerManager for CRM & Marketing Automation | Jun 18, 2018
Nav VersaPay Announces Addition of a Top Accounting Firm to Growing Client List | Jun 18, 2018
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News