If you look on the main page of the EquipNet website, you’ll see portals to buy and sell equipment, including spare MRO parts and MRO assets. In case you’re not familiar with the term, we thought we’d take a moment to help familiarize you with all things MRO.
MRO is an abbreviation of the phrase “maintenance, repair, and operations” (or sometimes “maintenance, repair, and overhaul”) and involves the repair of any type of mechanical, plumbing, or electrical device that is out of order or broken. It also includes performing routine and preventive maintenance on such devices.
MRO operations have two distinct categories. In the first type, the product remains the property of the customer, i.e., a service is being offered, which represents a closed-loop supply chain and usually has the scope of maintenance, repair, or overhaul of the product. The second type is an open-loop supply chain and is typified by refurbishment and re-manufacture or whether the product is bought by the reprocessing organization and sold to any customer wishing to make the purchase.
So that’s MRO in a nutshell, but what are we at EquipNet talking about specifically? When we discuss MRO, it’s in the context of MRO goods. MRO goods are any materials used in the creation of a product but not in the final product itself. Examples include:
- the machinery used to make a product
- spare parts for the machinery that creates the product
- items used to maintain the facility in which the product is made
As a reminder, with our acquisition of Present Value LLC, a worldwide appraisal and advisory company, EquipNet now possesses expanded Certified Machinery and Equipment (CMEA) capabilities. For more information, please contact us today!