Inventory+

ESECOTV

12 Jun 202402:03

Summary

TLDRThe video script highlights the importance of having critical spares readily available to minimize downtime in emergencies. It introduces Rockwell Automation's Parts Management Agreement (PMA), which has evolved into an Inventory Plus Service Agreement. This new agreement offers onsite stock, priority replenishment from Rockwell Automation hubs, and a Repair Plus program for both Rockwell and non-Rockwell repairs. The one-year in-service warranty on all agreement stock is emphasized, positioning the agreement as a solution to reduce costs, optimize inventory, and minimize downtime.

Takeaways

🛠️ Having critical spares on site is essential for emergency preparedness to avoid costly downtime due to component failures.
🔧 Rockwell Automation offers a Parts Management Agreement (PMA) that has evolved into an Inventory Plus Service Agreement.
📦 Onsite stock allows for immediate access to a customer's desired bill of materials stored on site for quick replacement of inoperative parts.
🔄 The bill of materials can be flexibly updated to reflect changes in the installed base, adding or deleting parts as needed.
🏢 Priority replenishment stock is maintained at Rockwell Automation Hub locations to ensure a continuous supply of critical spares.
🔄 Rockwell Automation replenishes parts from the priority stock as they are consumed from the onsite stock.
🛒 The agreement includes Repair Plus, which covers both Rockwell and non-Rockwell repair needs with an additional repair value beyond the repair span.
💰 The program aims to decrease costs, optimize inventory management, and minimize downtime for businesses.
🔄 The agreement provides a customer-determined repair spending amount, enhancing flexibility in repair services.
⏰ A one-year in-service warranty is offered on all inventory plus agreement stock, ensuring quality and reliability.
🤝 For businesses seeking to improve their inventory and spare parts management, speaking with an ES&S account manager or service specialist is recommended to get started with the Inventory Plus Service Agreement.

Q & A

What is the main benefit of having critical spares on site in a plant?
-The main benefit of having critical spares on site is to be prepared for emergencies, reducing downtime and avoiding costly delays when a component fails on a critical machine.
What has the Rockwell Automation Parts Management Agreement recently evolved into?
-The Rockwell Automation Parts Management Agreement has recently evolved into an Inventory Plus Service Agreement.
What are the new features included in the Inventory Plus Service Agreement?
-The new features in the Inventory Plus Service Agreement include onsite stock, priority replenishment stock, and a repair plus customer determined repair spending amount.
What is onsite stock in the context of the Inventory Plus Service Agreement?
-Onsite stock refers to the traditional customer desired bill of materials stored on site for ready access when needed. It allows the customer to immediately replace inoperative parts with spares from the shelf.
How does the priority replenishment stock work?
-Priority replenishment stock involves storing the customer's bill of materials at Rockwell Automation Hub locations to replenish parts consumed from the onsite stock, ensuring that critical spares are always available.
What does the repair plus customer determined repair spending amount cover?
-The repair plus customer determined repair spending amount covers both Rockwell and non-Rockwell repair needs, offering additional repair value beyond the usual repair span.
Is there any warranty offered with the Inventory Plus Agreement stock?
-Yes, there is a one-year in-service warranty offered on all Inventory Plus Agreement stock.
How can the Inventory Plus Service Agreement help reduce costs?
-The Inventory Plus Service Agreement can help reduce costs by optimizing inventory and minimizing downtime through efficient management and replenishment of critical spares.
Who should be contacted to get started with the Inventory Plus Agreement?
-To get started with the Inventory Plus Agreement, you should talk to your ES& account manager or service specialist.
Can the bill of materials for onsite stock be updated?
-Yes, the bill of materials for onsite stock can be updated as the installed base changes, allowing parts to be added or deleted as needed.

Outlines

00:00

🛠️ Spare Parts Management for Emergency Preparedness

The paragraph emphasizes the importance of having spare parts readily available to prevent costly downtime in case of machine component failures. It introduces Rockwell Automation's Parts Management Agreement (PMA), which has evolved into an Inventory Plus Service Agreement. This agreement offers onsite stock, allowing customers to maintain a flexible bill of materials for immediate access. It also includes priority replenishment stock stored at Rockwell Automation's hubs, ensuring timely replenishment of used parts. Additionally, the agreement covers repair services for both Rockwell and non-Rockwell equipment, providing a one-year in-service warranty on all stock under the agreement. The paragraph concludes by suggesting that businesses looking to reduce costs, optimize inventory, and minimize downtime should consider this agreement and contact their account manager or service specialist for more information.

Mindmap

Keywords

💡Critical Spares

Critical spares refer to essential backup components that are kept on hand to ensure that a machine or system can continue to operate in the event of a failure. In the context of the video, critical spares are vital for minimizing downtime in industrial settings. The script emphasizes the importance of having these spares readily available to prevent costly disruptions in production.

💡Downtime

Downtime is the period during which a machine or system is not operational. It is a key concern in the video as it directly impacts the productivity and profitability of a business. The script discusses how the lack of critical spares can lead to extended downtime, highlighting the need for effective parts management to mitigate this risk.

💡Rockwell Automation

Rockwell Automation is a company that provides industrial automation and digital transformation solutions. In the script, it is mentioned as the provider of the Parts Management Agreement (PMA) and the Inventory Plus Service Agreement, which are services designed to help businesses manage their spare parts inventory more effectively.

💡Parts Management Agreement (PMA)

The Parts Management Agreement, or PMA, is a service offered by Rockwell Automation that helps businesses manage their inventory of spare parts. The script explains that this agreement has evolved into the Inventory Plus Service Agreement, which includes additional features to further support customers.

💡Inventory Plus Service Agreement

The Inventory Plus Service Agreement is an enhanced service that builds upon the PMA. It includes the same benefits as the PMA but adds new features such as onsite stock and priority replenishment stock. The script positions this agreement as a solution for businesses looking to optimize their inventory and minimize downtime.

💡Onsite Stock

Onsite stock refers to the inventory of parts that are stored at a customer's location for immediate access. The script explains that this feature of the Inventory Plus Service Agreement allows for quick replacement of inoperative parts, thus reducing the time it takes to get a machine back up and running.

💡Priority Replenishment Stock

Priority replenishment stock is a component of the Inventory Plus Service Agreement where Rockwell Automation maintains a stock of parts at their hub locations to replenish the customer's onsite stock. The script illustrates how this ensures a continuous supply of critical spares, reducing the risk of production delays due to part shortages.

💡BoM (Bill of Materials)

The Bill of Materials, or BoM, is a list of all the parts and components required to manufacture a product. In the context of the video, the BoM is used to manage onsite stock, allowing customers to update their inventory as their installed base changes, ensuring they have the right parts when needed.

💡Repair Plus

Repair Plus is a feature of the Inventory Plus Service Agreement that covers both Rockwell and non-Rockwell repair needs. The script mentions it as a program that offers additional repair value beyond the standard repair span, providing customers with greater flexibility and cost-effectiveness in managing repairs.

💡In-Service Warranty

An in-service warranty is a guarantee provided by the manufacturer that covers the repair or replacement of parts for a certain period after they have been put into service. The script mentions that Rockwell Automation offers a one-year in-service warranty on all inventory plus agreement stock, providing customers with peace of mind regarding the reliability of their spare parts.

💡Cost Optimization

Cost optimization involves strategies and practices aimed at reducing costs without compromising quality or productivity. In the script, the Inventory Plus Service Agreement is presented as a way to achieve cost optimization by decreasing the need for excessive inventory and minimizing the risk of downtime.

Highlights

Critical spares on site are essential for emergency preparedness on any plant floor.

Downtime due to lack of availability and extended lead times can be costly when a critical machine component fails.

Rockwell Automation Parts Management Agreement (PMA) has evolved into the Inventory Plus Service Agreement.

The Inventory Plus Service Agreement offers the same benefits as the PMA with additional features.

Onsite stock allows for the traditional customer desired bill of materials to be stored on site for ready access.

Flexible Bo inventory allows for updates as the installed base changes, and parts can be added or deleted as needed.

Priority replenishment stock is stored at Rockwell Automation Hub locations to replenish consumed onsite stock parts.

The Inventory Plus Agreement ensures critical spares are always available by replenishing used parts from the priority stock.

The agreement includes a repair plus customer determined repair spending amount covering both Rockwell and non-Rockwell repair needs.

The program offers additional repair value beyond the repair span in terms of repair buying power.

A one-year in-service warranty is still offered on all Inventory Plus Agreement stock.

The Inventory Plus Agreement helps decrease costs, optimize inventory, and minimize downtime.

The agreement is suitable for those looking to optimize their parts management and maintenance processes.

ES& encourages contacting an account manager or service specialist to get started with the Inventory Plus Agreement.

Rockwell Automation's new features in the Inventory Plus Agreement are designed to enhance emergency preparedness and operational efficiency.