Our Business

Material and Warehouse Management Services

Hofincons Group has been providing Material Management services to clients worldwide and have been instrumental in developing MESC codes for various clients. Material management services are provided to tackle various requirements such as building appropriate buying descriptions for MRO spares, reduction of duplicate inventory, to source materials in time for maintenance requirements,  identifying stocking requirements, map supply and demand patterns, identifying non-moving inventory and to get the best Return on Investment (ROI) on inventory.

Hofincons is a one-stop partner for all Asset Maintenance and Material Management requirements & needs. The material management services offered by Hofincons are:

 

Material Cataloguing

Material Cataloguing is a process to identify each material item with its full details such as specifications, standards and descriptions for: easy identification, developing appropriate buying descriptions, procuring when needed, and to avoid duplicates in the inventory.

Hofincons offers services for new material cataloguing by codifying, formatting of each MRO spare item as per international standards such as ECCMA, ISO 9008 with the help of a specialised proprietary tool MCAMS®. Hofincons further enrich the material descriptions to develop complete buying description for each MRO spare by referring to Hofincons Standard Cataloguing Dictionary & Hofincons Reference Material Database, vendor documentation, manufacturer data, etc.

 

Material Data Cleansing and enrichment
Hofincons offers services for existing material catalogues by codifying, formatting of each MRO spare item as per international standards such as ECCMA, ISO 9008 with the help of a specialized proprietary tool MCAMS®. Hofincons further enrich the material descriptions to develop complete buying description for each MRO spare by referring to Hofincons Standard Cataloguing Dictionary & Hofincons Reference Material Database, etc. The duplicate material items are identified and resolved through various identification processes. Images can be captured for the necessary items.

 

SPIR / SPIL review
The list of spares by vendor / supplier is reviewed for completeness and identifying gaps in the spares requirements. The data is supplied for developing spares interchangeability records and quantify the numbers to stock, in order to build appropriate bills of materials

 

Material / Spares Physical verification
When an material data is unavailable through documentation or the material is not able to be identified, Hofincons can support in identifying the material items through physical verification methods. Hofincons personnel will be deployed at client warehouses to collect the necessary details and to identify and build appropriate material item data & descriptions.

 

Inventory Optimisation
Inventory Optimization analysis evaluates the inventory hold policy for each spare part associated with an asset. Optimizing the inventory is, effectively managing the investment which has direct influence on company’s performance and hence its profitability.

A structured review and analysis of the existing inventory policy, stock levels, service level requirement based on consumption pattern, maintenance strategy etc., will identify the optimum purchase quantity and re-order time. The analysis will also take in to consideration the lead-time stock, safety stock and minimum level.

The objective is to map supply & demand patterns and maintain a balance between the agreed service level, and inventory holding costs to meet corporate business objective. Inventory Optimization study facilitates to achieve the vision of inventory control in process industries, especially in spare parts monitoring where the demand is unpredictable.

 

Binning and Reconciliation
Binning needs are developed newly or reviewed appropriately based on the material type, its storage requirements and the prevailing conditions.

Reconciliation activities can be taken up to ascertain the availability of materials in warehouse bins & yards and its quantity correctness. The reconciled data can be updated into the client ERP systems.