Repair time reduction strategies typically are based on prevention, training, and standardized procedures. These are all effective, but even if you have a rigorous PM and PdM system, things will fail. Even the best-trained people need time to complete the required steps. Procedures have more effect on the quality of the repair than on its efficiency.
If you have done all these things, you can still reduce repair time. Consider a motor replacement. Look at all the steps involved; some have nothing to do with the actual repair. For example, finding the right lifting straps for a 5-hp motor.
From your CMMS, you can generate a report showing your three most common repairs. Make kits for each one, and assign someone the responsibility of keeping the kits stocked. For example, you have a motor replacement kit contained in a tote box purchased for this purpose and labeled accordingly. It contains lifting straps, motor lead tape, solderless connectors, a rotation tester, a vibration tester, shims, and a binder of checklists.