Magnetic MRO Automates 79% of Purchases & Experiences Exceptional Cost Savings of 19% by Using SkySelect AI
MAGNETIC GROUP keeps the aviation business running with its suite of products for airlines, MROs, manufacturers, and asset owners, and its business is divided into four distinctive sectors:
MAGNETIC CREATIVE provides design and manufacturing services for both aircraft interior and exterior parts.
MAGNETIC ASSETS provides aircraft with engines, landing gears leasing, engine transportation stands, and spare parts and components solutions.
MAGNETIC MAINTENANCE provides aircraft line maintenance, base maintenance, and aircraft engine maintenance repair and management.
MAGNETIC TALENTS sector offers a full range of engineering and CAMO services and various industry-related EASA Part-147 training.
As a leading European MRO, it's imperative for Magnetic MRO to procure aircraft parts as quickly as possible and as affordably as possible to remain competitive in the market.
Beyond those challenges, Magnetic MRO faces a significant workload. Rather than have its employees bogged down with unfulfilling redundant work, the organization preferred to have its workforce spend time on value-added tasks, where human ingenuity and experience are needed most.
In the search for automation, Magnetic MRO was looking for a sophisticated solution that could cover the end-to-end process from a material requirement to sourcing, ordering, and delivery tracking to eliminate manual effort as much as possible.
”Having partners such as SkySelect, which we can innovate and grow with, is vital to our fast-growing business. 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.”
Magnetic MRO has experienced exceptional results in terms of cost savings and efficiency gains. In October 2022 alone, the Procurement AI helped to capture a cost savings of 19% on stock replenishment parts. The vast majority of these savings were captured without any human involvement as artificial intelligence fully automated 79% of the purchases on the SkySelect platform.
And not only are those parts being bought for the best possible price, but requests are being fulfilled quickly. The average time from a part request to a PO recommendation is 3.2 hours, and the average time from the PO creation to PO delivery is less than a week.
These results are achieved by Magnetic MRO thanks to full two-way integration between their ERP and SkySelect, which includes the utilization of Spec2000 to exchange orders with suppliers.
Magnetic MRO and SkySelect’s strategic partnership dates back to 2019 and has gradually evolved over the course of their collaboration to develop cutting-edge solutions for the aviation industry.