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The foundation of every successful business is a good idea and hard work. However, to continue to run a booming business needs continuous efforts. One such area that needs attention is inventory management. Proper inventory management is essential to the health of the business. Careful and smart inventory management lower inventory carrying costs and minimize the amount of stock that sits in the warehouses. Many companies embrace the 80/20 inventory rule to manage their MRO inventory. If you are wondering what the 80/20 inventory rule is and how you can implement it in your facility, you are on the right page. 

As one of the leading e-marketplaces for genuine and unused MRO spares, we share with you useful insights on the 80/20 inventory rule: 

It is based on the Pareto principle:  According to the Pareto principle, 80% of consequences come from 20% of causes. In other words, 80% of results come from 20% of efforts. In terms of inventory, this rule means that companies earn roughly

MRO stands for Maintenance, Repair, and Operations. The purpose of MRO inventory is to make sure the company will have spare parts, materials, and supplies available as and when needed. For this, the company needs inventory management. 

By managing inventory properly, companies can: 

• Reduce high acquisition costs 
• Avoid duplication order 
• Ensure better visibility of MROs 

As one of the leading e-marketplaces for genuine and unused MRO spares, we share with you useful insights on inventory management: 

Streamline MRO purchase: Without a unified MRO purchasing approach, companies will end up over-buying MRO products or will not be able to achieve economies of scale. For an effective MRO inventory management plan, companies need a centralized approach.  

Perform an audit: Performing an audit will determine whether all the required MRO inventory is already stocked or whether there is obsolete inventory that can be eliminated. It is also recommended to follow up with a regular physical