Transparency in spare parts pricing

In an environment as crowded as the aviation spare parts marketplace, finding transparency in pricing may seem like an almost impossible task. With the sector flooded with millions of unique part numbers, competing brokers, MROs, and original equipment manufacturers (OEMs), how can industry players be sure that prices are accurate, conducive to profit, and have not been artificially inflated?

Recent innovations in technology, such as increased internet speeds, the propagation of IoT, and the demand for Big Data crunching power, have helped increase transparency in pricing and created a less risky environment for customers and suppliers in which to trade.

Locatory.com, a family member of Avia Solutions Group, and the leading aviation marketplace in Europe and the eastern hemisphere has taken that transparency to the next level with a comprehensive online tool for sourcing spare parts and repair capabilities. The Locatory.com platform gives greater pricing transparency than many of its competitors via its adaptability and extensive search capabilities.

According to Toma Matutyte, Director of Sales and Marketing at Locatory.com Marketplace, “To be more competitive and proactive in the market, players need to be able to compare, analyse, and take reasonable insights from reliable statistics and analytics, and that’s exactly what Locatory.com gives our customers the power to do.”

The Locatory platform allows the user to fine-tune their searches using parameters such as price statistics, part numbers, latest trending parts, demand by condition, and hard to find parts, all of which can be further sorted ‘by year’. There is also the added functionality offering Company Statistics, offering overviews of your company’s past and present condition, including historical data concerning spare parts KPIs. Additionally, the Company Actions section of the Locatory.com platform is available for management and admins to minutely examine, analyse, and act on all aspects of process management.

Toma Matutyte adds, “There can be no doubt that the aviation aftermarket has seriously influenced the entire industry. With the introduction of next-generation aircraft and the retirement of older models, the spare parts marketplace, including the transparency of pricing, has altered dramatically, making spare parts an important profit resource for OEMs.

“By offering better pricing transparency, Locatory.com has opened greater opportunities for easier sourcing, quicker turn-around times, and enhanced profitability in the aircraft parts and repair capabilities sector. The unique capabilities of the Locatory.com platform enable aviation traders to establish pricing and find more opportunities across the entire aviation marketplace.”