Global MRO Tools market to reach $689Bn: SupplyVan leads the way in the Middle East
Dubai,
13th July 2022: The
global MRO market was valued at $610Bn in 2019 and is expected to reach $689Bn
by 2025 (Mordor). Middle East’s first and largest single aisle e-store,
predicts that the region will generate 10% of global MRO tool demand. With its
unique business model, marketing strategy and tech-enabled management and
customer services system, established in 2016, SupplyVan is a remarkable choice
for businesses and industries to streamline their MRO products procurement.
MRO stands for Maintenance, Repair and Overhaul
that encompasses any and all products that are used in the effective
functioning and maintenance of Industries, Factories, Workshops and businesses
of all kinds including categories such as Power Tools, Hand Tools, Safety
Products, Outdoor Equipment, Hydraulic and Pneumatic Products, Electricals and
Lighting, Material Handling, Stationary, etc.
The lack of digitization and rise in demand for
MRO products after the relaxation of COVID-19 restrictions makes SupplyVan a
reliable ally for every business.According to market analysis, the growth of
the manufacturing sector, and other projects (ranging from wastewater projects
to infrastructure and hospitality industry) in the GCC is expected to drive the
demand for MRO service and tools. With upcoming energy and utility projects in
MENA, the demand for MRO products is bound to increase.
“We have grown 4x in the last two years having
moved into a new logistics facility near Dubai Airport and are targeting a
300% Revenue growth this year as
compared to 2021. We are constantly working to bring value addition in terms of
procurement for our retail and B2B customers with our custom portal and catalog
solutions. We source from manufacturers and distributors at lowest prices for
original and branded products locally and all over the world combined with
quick delivery and great customer support”, says Ali Asgar Raja, Founder
of SupplyVan.
Each business needs round the clock maintenance,
repair and operating to ensure smooth functioning whilst maintaining cost
effectiveness in procurement. After realizing the problems with the traditional
MRO products’ supply chain, SupplyVan aims to redefine and reinvent the MRO
products market for the industries to meet their production needs. The problems
with the existing MRO products’ supply chain are:
●
Fragmented
Supply Base
●
Complex
MRO procurement for buyers
●
Lack of
economies of scale
●
Lack of
operational and geographical scale to provide proper service
●
High
pilferage and wastage
●
Low tech
adoption across the supply chain
● Payment term and cash flow challenges
● Timely Delivery Challenges
● Unreliable supplies
How do
Tech-enabled supply chain solutions benefit sellers and buyers?
●
Vendor Managed Inventory: Integration of vendor managed inventory (or VMI)
makes the entire process of procurement of MRO products automated which helps
in significant simplification of the process. Moreover, automation facilitates
in numerous other ways such as:
1. Automated
ordering: Automation
of ordering and issuing consumables allows more control and transparency.
2. Built-in
User management: This
feature enables selective-user access with its built-in user management system.
This means that only a selection of personnel would be able to access resources
and data and place orders for approval by the department heads or procurement
departments.
3. Order
requisition:
Tech-enabled simplification makes it possible to keep tap of all your orders is
it a single order or multiple shipments.
4. Budget
Monitoring:
Automating the MRO product procurements also helps in the efficient management
of the needs and the inventory. It gives access to a list of all open quotes
and where they are in the fulfillment pipeline.
5. Order
Tracking: The
integration allows buyers to have a full list of all previous orders. This
helps buyers to look at previous prices, and products and download invoices.
6.
MIS Reporting: Customization of M/S reports enables buyers to
track user-level and product-level consumption.
About
SupplyVan.com: SupplyVan
aims to become a Single Aisle One-Stop-Shop for industries to meet their MRO
products’ sourcing and supply. Being cognizant of the problems with the
traditional MRO products chain, SupplyVan aims to consolidate and introduce
tech-enabled procurement, hence simplifying the MRO products procurement for
the businesses. Pioneer in introducing an e-store for MRO products in the
Middle East, it caters to all types of industries, factories, workshops,
offices, contractors and businesses in MENA. Moving forward, the company also
aspires to become the largest B2B and B2C supply chain solutions company
globally.
SupplyVan caters to all kinds of businesses and
industries and ensures the availability and facilitation of industry-specific
MRO products needed.
With access to more than 2000+ categories of
products, 150K+ products, 1600+ brands, SupplyVan gives industries access to
top brands such as:
●
3M
●
Honda
●
Rust-oleum
●
Rubi
●
Legrand
●
Rothenberger
●
Honeywell
●
Mitutoyo
●
WD-40
●
Metabo
●
Makita
●
Tesa
●
Kärcher
●
Fluke
●
Dewalt
●
Bosch
●
Knipex
●
Intercare
●
Parker
●
Dormer
●
Stanley
●
Bold
●
Gree
● SKF
amongst
other leading local and international brands.
For more
information, interviews, insights and images please contact:
Heera Shetty
Tel: +971 52 897 0907
Koyel Shee
Tel: +971 55 897 2272
Yardstick Marketing Management
PO Box - 116125, Dubai,
United Arab Emirates
Tel: +971 4 351 8584
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