With the expanded partnership, Magnetic MRO is using SkySelect Procurement AI to automate the purchase of spare parts in an effort to ease the workload, enhance operational efficiency, and generate cost savings.
Magnetic MRO, a provider of total technical care aviation solutions, expanded its long-standing partnership with SkySelect to fully automate its stock replenishment parts procurement. In accordance with this expanded partnership, Magnetic MRO is using SkySelect Procurement AI to automate the purchase of spare parts in an effort to ease the workload, enhance operational efficiency, and generate cost savings. For a seamless end-to-end purchasing experience from the part requirement to delivery, the SkySelect software platform combines technology and services.
As of right now, Magnetic MRO has achieved outstanding results in terms of cost reductions and productivity increases. The Procurement AI contributed to a 19% cost reduction on stock replenishment parts in just October. Since 79% of the purchases made on the SkySelect platform were fully automated by artificial intelligence, the vast majority of these savings were realized without the involvement of any humans.
“Having partners such as SkySelect, which we can innovate and grow with, is vital to our fast-growing business,” said Raivo Roolaid, Head of Supply Chain, Magnetic MRO. “SkySelect is always developing new ways to support us in providing world-class service to our airline customers. Their platform gives us much-needed visibility and control of the supply chain, allowing us to run leaner operations and avoid delays,” he further added.
Additionally, orders are quickly filled in addition to being fulfilled at the lowest cost possible when purchasing those parts. It takes an average of 3.2 hours to recommend a PO after receiving a part request, and less than a week on average to deliver a PO. Due to complete two-way integration between their ERP and SkySelect, which includes the use of Spec2000 to exchange orders with suppliers, Magnetic MRO is able to achieve these results.
“Magnetic MRO is one of our best partners because of the mutual respect and trust we have for each other as well as having a shared innovative mindset,” said Erkki Brakmann, CEO, SkySelect. “This type of collaboration is the cornerstone to digitalizing the supply chain of materials for MROs and airlines, using the power of artificial intelligence,” he further added.
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The strategic alliance between Magnetic MRO and SkySelect began in 2019 and has grown over the course of their work together to create cutting-edge solutions for the aviation sector.
