MTA Metro North Railroad. P&MM Inventory Report Page 115
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1 MTA Metro North Railroad P&MM Inventory Report Page 115
2 Mission The Material Management and Storeroom Operations subgroup of the Procurement and Material Management Department, is tasked with the planning, storage, control and distribution of all material at MNR s storeroom locations. The material stored includes various railcar parts, equipment and support materials. The subgroup supports and promotes the corporate objective of providing an efficient and safe service to Metro-North s customers by providing appropriate levels of inventory to facilitate scheduled and unscheduled maintenance and repairs, and by working closely with both the Procurement groups and the Operations Division on projected needs and overseeing accurate efforts in forecasting Inventory. Page 116
3 Major Efforts and Initiatives (2011) Strategic Inventory Planning & Procurement In 2011, MNR s Procurement & Material Management Department continued to work closely with Internal Customers focusing on opportunities for overall inventory savings and reductions, while improving service levels. This led to leveraging of excess inventory which reduced Cash needed for inventory replenishment. These were accomplished through a number of focused initiatives on our 2011 action plan Action Plan Summary Algorithmic Forecasting System for Strategic Inventory Forecasting Coinciding with, and supplementing Strategic Procurement initiatives, MNR installed in 4Q 2011 an Algorithmic Forecasting System which began the task of right-sizing the inventory. This system gives MNR the capability to manage highly volatile items ensuring availability of critical parts and appropriate safety stock levels while minimizing overstocking. This application has decreased forecasting errors while increasing service levels to internal operations customers and has also resulted in stock reductions for retiring fleets. The implementation of the forecasting system has been instrumental in MNR's $4M reduction of inventory from Minimize Cash-Flow and Right-size Inventory In 2011 MNR established a goal of reducing cash needed for replenishment of inventory by $4.0 The effort was deeply affected by snowstorm recovery as well as washouts caused by Tropical Storm Irene. Even with these impacts the Material Management Team was successful in reducing cash-flow by $2.8M while simultaneously increasing the service level to a 5 year high. There is a forecasted growth in inventory requirements in 2012 due to the new fleet arrival and in the existing fleets due to major maintenance cycle points being achieved. Joint Procurement Initiatives for Cost Reduction Joint Procurement opportunities are pursued and reviewed as part of the procurement standard operating procedures on a daily basis with peer agencies. The goal is to identify items that can be purchased in tandem throughout the MTA, while reducing redundancy and improving economies of scale. Success has been achieved with a number of items involving fleet parts; TVM maintenance; and automotive fuel. Total value of all MTA joint/multi-agency procurements in 2011 was $123.5M; MNR led $104.7M or 85% of the joint procurements in value. MNR s actual spend portion is valued at $55.3M Asset Disposition In 2011, a total of $897K was received for the sale of excess/obsolete and scrap materials. The 2011 projected revenue of $345K was exceeded by 160%. In addition, the disposal of M-2,4 & 6 railcars, a joint procurement with NYCT, was awarded. To date, 7 M-2 cars have been removed and up to 78 are expected for disposal in MofW and GCT Inventory Optimization In 2011, MNR centralized management of its material actions under a newly formed MofW Team. This group is working towards consolidation, strategic planning and cataloging material requirements formerly performed by various independent units. The effort is piloting Just-in-Time contracts for commonly found materials to minimize the need for stocking material. GCT material requirements are moving to a Just-in-time, (JIT) process to minimize stocking requirements and minimize cash spend. Page 117
4 2011 Detailed Accomplishments 2012 Goals Challenge Plan 2011 Detailed Accomplishments 2012 Goal Right-size Stock Inventory investment to support service level and budgetary goals for MofE and MofW operations. Implement Smart Software to proactively forecast future needs. Provide method for strategic look-ahead forecast to allow for multiyear contract solicitation. Collaborate with internal customers to improve administrative Lead-time. Support MofW Initiatives for centralized management of inventory. Reduced Inventory value by $4M or 4% while increasing fill-rate to 97.7%. Realized cash-flow savings in excess of $2.8M. Continued 4 year trend of inventory reduction by 22%. Continued 4 year trend of increased service improvement by 2.2%. Assisted in start-up for MofW management of inventory involving technical and procedurally development. Finalize full utilization of Smart Software to proactively right-size stock Inventory matching demand. Increase fill-rate by.2% overall for internal customers. Ensure material availability in support of Maintenance & Program needs. Conduct MofW Planner, Catalog and Forecast software training with new staff. Convert GCT material acquisition methods to Justin-time (JIT) Optimize Inventory for Inactive and Excess Determine disposition of inactive material. Collaborate with internal customers in validation of excess/inactive stock material for final disposition. Use of Forecasting system to identify excess and implement plan for right-sizing levels. Identified excess material, eliminated open PO s and requisitions capturing $250K in savings. MofW utilizing non-stock material prior to acquiring stock material contributing to Cash savings. Increased asset disposition stream by 160% over 2010 netting $897K Use of Smart Software to perform excess analysis identifying 12 and 24 month future needs, implement strategy to minimize replenishment investment producing Cost Avoidance of $500K. Use of Smart Software to analyze inventory needs for retiring fleet and compare matching proportional stock replenishment to retirement schedules. Goal = $500K in Cost Avoidance. Joint Procurement Initiatives Identify items that can be purchased in tandem throughout the MTA, while reducing redundancy and improving economies of scale. Pursue opportunities as part of the procurement operating procedures with peer agencies. Success achieved with common items such as GE spare parts for M-3 fleet Genesis locomotives, wheel bearings for the M-2,3,4,7 and Coach fleet, ballast rock, TVM maintenance, hardware fasteners, etc. Total value of ALL MTA joint/multi-agency procurements in 2011 was $123.5M; MNR led $104.7M or 85% of the spend value. MNR s actual spend portion is valued at $55.3M Conducted joint procurement and award for disposition of retiring fleets with NYCT. Page 118 Continue efforts consistent with expiring contracts and planned needs. Implement Multi-year contracts based on long-term forecast needs and trends.
5 Inventory Service Level Year Service Level % % % % % % % % % % % Service level is a performance measurement goal of the percent of time a part is available for use when requested by the internal customer. The MNR Service Level goal for 2011 was 97%. As can be seen improvements have been trending upward since 2008 and are.7% above goal. Page 119
6 Total Historical Inventory Trends (Constant 2011 $ s) In Millions $140 $120 $100 $80 $64 $66 $64 $73 $79 $93 $121 $113 $105 $98 $94 $60 $40 $20 $ Inventory levels have consistently gone down over the last 5 years to it s current $94M position Results achieved a 4% reduction over This has been accomplished through aggressive monitoring of stock levels matching them more precisely to future demand. Cash spend reductions of $2.8M in 2011 have been achieved during significant service impact challenges such as West of Hudson washout; and 2010 Winter recovery efforts inventory levels are projected to increase in the $1-2M range. Factors causing this is the continued arrival of the M8 fleet with required inventory support, as well as the M7 and Brookville Locomotive fleets reaching required maintenance intervals. Page 120
7 Inventory By MTA Category (Constant 2011 $ s) $ In Millions $140 $120 $100 $80 $60 $40 $20 $6 4 $6 6 $ $ $ $ $12 1 $ $ $9 8 $ $ M of E M of W Other The illustration above breaks out the inventory value by the 3 major MTA categories monitored and reported. As can be seen the major change in inventory value which causing the overall reduction is within the MofE category. Values are: MofE ($75.3M) experiencing a 6% reduction in 2011 over 2010; MofW ($16.3M) experiencing a 3% increase due mostly to timing of program material arrival; and Other ($M) remained constant. Page 121
8 MofE Inventory Value vs # of Railcars (Constant 2011 $) in millions M o f E I n v e n t o r y V a l u e i n M i l l i o n s # o f R a ilc a r s Inventory Value # of Railcars In closer examination of the MofE Category trend, the graph illustrates the success achieved to date with the decline in MofE inventory since 2007 by 23%. This was accomplished simultaneously while improving service levels to internal customers and an overall increase in fleet size. Page 122
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