enventure

Over the years Academia and practical application have proven that detailed design and engineering is of utmost importance as project costs are defined and set. This process has a strong impact on the overall project cost as it is also a stage in which the most cost saving is done. Equally if the process described above is done poorly, it can have a great impact on the overall success of the project. 70% of a products cost is determined by its design and that cost includes material, facilities, tooling, labour, and other support cost. Detailed design ensures that the overall design solution satisfies the project’s objective. Usually the breadth of scope is so vast that no single manager, engineer, operator or scientist has the knowledge to provide the overall detailed design and engineering solutions. If the goal of a project includes the need to generate energy, a mechanical design engineers input may be to recommend a piston or turbine. An electrical design engineers input maybe ...

  To make spend analysis much easier and procurement processes more efficient, usually companies often implement and maintain a product group also known as a commodity classification system, which is applied to each product that is purchased. The use of such a system ultimately facilitates easy communication, commerce, and compliance between buyers and the company. The classification systems available are from internationally recognized providers like UNSPSC and eCl@ss, and industry-specific national providers such as Shell MESC designed exclusively for the Oil & Gas industry. There are a few end-users and service providers like IMA Ltd who have developed their own internal classification system depending on industry specifications, business processes, and subject matter expertise. Although each system has its own unique structure and advantages, all the systems have been designed with one common purpose and that is to accurately classify MRO products and services for efficient...

  MRO master data   is the basic information of any enterprise that describes how the business is conducted. It includes information on policies, processes, security, and trust among stakeholders, and an organizational structure to support a company’s master data management.   With the rapid increase of new data, companies need to decide which data is reusable and valuable to maintain. Companies need to determine appropriate storage and access purposes.   MRO data governance  solutions design and create an architecture to govern these sources, integrate them, and make them accessible to all departments of the organization.   As the data is shared across the organization, it has high chances of being duplicated, fragmented and outdated. This affects the workflow and decision-making of various departments.   This data integration becomes increasingly important because it impacts the workflows and decision-making of varied teams. This makes data governanc...