Magnetic MRO is creating a fully integrated supply chain of aircraft parts with the assistance of robotic process automation.
The MRO company has extended a contract with SkySelect, which acts as an extended purchasing arm to airlines and MROs. Sky Select uses technology and algorithms to do the work of matching real-time demand from buyers with supply. The process scales up and down automatically depending on demand.
“SkySelect is a long-time partner of ours because of their unique ability to provide both technical innovation and unrivalled customer support,” said Magnetic MRO’s head of supply chain Kaarle Karp (pictured above right).
“We are in the 21st century and we are used to having access to information in real-time. But for aircraft material, it’s not the case, we are still buying parts like we did 30 years ago. With its unique technology-enabled approach, SkySelect can process thousands of part requirements 24/7 to deliver meaningful savings of 20 per cent or more with a fully automated ordering process.”
SkySelect’s CEO and founder Erkki Brakmann (pictured above left) commented: “The opportunity has never been greater to save on aircraft material. There is an abundance of excess inventory available today, arguably, more than during any other prior period in commercial aviation history.
“However, best deals and savings will not wait and are often passed up because hunting for such deals is labour-intensive, requiring knowledge, data and managing more suppliers.
“As airlines cut costs and reduce staff, they are forced to do more with less, which only worsens the already existing operational inefficiencies.”
SkySelect aims to integrate the supply chain in a way that eliminates manual effort by having less orders and suppliers to manage, the company said, while also driving cost savings “by working closely with buyers and sellers and constantly searching for the best options from the market”.
Magnetic MRO’s strategic purchasing manager Natalja Lagno said of the contract extension: “There are many more supply chain opportunities in the aviation market than you can see on a daily basis. The part you are searching for might be lying on someone’s shelf not used. SkySelect helps Magnetic MRO to find hidden gems in the aviation market and deliver them with great cost savings and superb quality.”