Oniqua Intelligent MRO’s Oniqua IQ Inventory is now available. This is an award-winning, cloud-based MRO Inventory Optimization platform that combines sophisticated statistical analyses, prescriptive analytics and optimization algorithms to help users in asset-intensive industries reduce costs, improve margins, increase service levels and minimize unplanned downtime.

The company reports that asset-intensive organizations around the world – including mining companies – “rely upon Oniqua Intelligent MRO to help them achieve significant and rapid results, such as:

• 15-50% reductions in inventory holdings
• 20-35% decreases in replenishment costs
• 30-50% improvement in material availability
• 15-40% savings within maintenance budgets
• 400% ROI.

“Key benefits of IQ Inventory include:

• State-of-the-art technology that optimizes stock levels within acceptable risk tolerance thresholds
• Move from a reactive to a predictive approach to identify issues before they occur
• Leverage the latest big data technologies to aggregate massive amounts of existing customer data
• Segment data from your ERP/EAM systems using key parameters like cost, criticality, usage and lead time
• Leverage built-for-purpose algorithms to improve intermittent and variable demand forecasting
• Combine urgency, value and risk-based factors to assign objective priority scores to tasks.