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A. Definition:
The metric is the value of maintenance, repair and operating materials (MRO) and spare parts
stocked on site to support maintenance, divided by the Replacement Asset Value (RAV) of the
assets being maintained at the plant, expressed as a percentage.
B. Objectives:
This metric allows one to compare the value of stocked maintenance inventory on site with
other plants of varying size and value, as well as to benchmarks. The RAV as the denominator
is used to normalize the measurement given that different plants vary in size and value.
C. Formula:
Stocked MRO Inventory Value per RAV (%) = Stocked MRO Value ($) X 100
Replacement Asset Value ($)
D. Component Definitions
E. Qualification:
F. Sample Calculation:
If Stocked MRO Inventory Value is $3,000,000, and the Replacement Asset Value (RAV) is
$100,000,000, then the Stocked MRO Inventory Value as a Percent of RAV would be:
$3,000,000 x 100 = 3%
$100,000,000