Mincom recommends that asset intensive companies consider five key tips to deliver sustainable gains in performance and profit.
Here are five ways to improve performance and profit in asset intensive businesses, and how Mincom can help:
Improve Asset Availability and Performance
Manage assets based on risk and criticality to help systematically prioritize work and enable your company's maintenance organization to become more strategic about asset management. In this day and age, it is not uncommon for maintenance organizations to have more work to do than they can handle. By carrying out a risk and criticality assessment of their assets, they can identify not just which are the critical assets, but also what are the critical parts for those assets – enabling them to prioritize work and inventory accordingly to ensure that the most important work is done first. Additionally, implementing reliability centered maintenance, preventative maintenance, and predictive maintenance programs can further increase asset availability and performance.
- How Mincom Can Help
- Mincom solutions help companies manage asset lifecycles and implement policies and procedures to optimize asset utilization and minimize costs. Mincom Ellipse, an enterprise asset management (EAM) system purpose-built for asset intensive industries, enables complete visibility and management of assets enterprise wide. Leading companies use Mincom Ellipse to articulate maintenance policies and strategies that maximize asset value, including proactive maintenance programs such as condition monitoring and reliability centered maintenance.
Related Products:
- How Mincom Can Help
- It's imperative to take the guess work out of the MRO supply chain. Mincom Critical Inventory Optimization (MCIO) helps companies match inventory levels to productivity demands, thus avoiding needlessly tying up capital. It also optimizes cataloging, warehousing and vendor management. Companies also rely on Mincom LinkOne to increase maintenance team efficiency and reduce asset downtime through rapid finding of parts and service information and more accurate parts ordering.
Related Products:
- How Mincom Can Help
- Mincom Mobility is a suite of field solutions built on a best-in-class mobility platform. Companies use Mincom Mobility to help optimize field maintenance productivity and engage in proactive maintenance. This includes enabling a productive flow of timely, accurate information to and from the field, more effective service planning and scheduling, and streamlined field operations. Mincom Mobile Inspector enables workers to identify any potential issues, and begin the work planning process at the asset. They can identify any issue specific parts or tooling that may be required to rectify an issue, and so help minimize situations where field workers arrive to carry out work with the wrong part or equipment.
Related Products:
- How Mincom Can Help
- Mincom Mobility is critical to many organizations' field and asset safety programs, providing real-time visibility of assets across the enterprise to ensure help prevent safety incidents. Combining asset management software with GPS, RFID, GIS and photo technologies, the Mincom Mobile Inspector module streamlines the asset inspection process, enables intelligent real-time asset-centric scheduling and maintenance, and helps ensure accurate maintenance reporting by automating forms and processes in the field.
Related Products:
- How Mincom Can Help
- Mincom Ellipse makes it easy for organizations to more readily embrace PAS 55. Companies standardizing on PAS 55 leverage Mincom Ellipse to achieve key PAS 55 mandates including:
- Managing risk before it becomes a problem – including building risk assessment and management into alarms, inspections and defects, and work requests and work orders.
- Understanding the condition of every asset – including automatically calculating the current condition of each asset based on inspection data.
- Standardizing the Asset Registry business process – including registering assets according to PAS 55 guidelines while ensuring that asset registers avoid becoming too complex.
For more details on these and other proven ways to improve operational performance and profit in an asset intensive organization, please contact Mincom today.
Read more:
Optimize the Maintenance, Repair, and Operations Supply Chain
Analyze why you stock certain parts in the first place (hint, "just in case" is no longer a valid reason). Accurately assessing the criticality of parts to respective assets and adjusting stock levels accordingly can free up valuable capital. Providing access to digital part manuals at the point of maintenance via mobile devices expedites parts identification, ordering, and maintenance processes. Integrating detailed parts information into a vendor portal provides access to vendor score carding, lead-time metrics and vendor performance history data to help determine which parts genuinely need be stocked on-site.
Improve Decision Making at the Point of Maintenance
Field maintenance productivity often suffers from a lack of real-time management visibility, insufficient automation tools for workers, and no real-time planning and tracking. Mobile solutions can provide real-time visibility into what workers are doing, and to drive collaboration and effective operational decision making.
Address Safety Issues at the Point of Potential Incident
Safety starts with empowering workers with information at the point of performance. An example, providing field workers with a context sensitive personal risk assessment that must be completed before they can receive a work task. In the case of a utility worker about to carry out work on a substation, part of the personal risk assessment could be to ensure that all isolations have occurred before he can receive the actual work task he needs to complete on the substation. Other strategies include ensuring that assets are available and safe to perform work and providing monitoring credentials. All of these strategies can be streamlined by putting information and best-practice safety processes in the hands of maintenance workers on-site through mobile technologies. Doing so protects workers, assets, and margins.
Standardize on PAS 55
The British Standards Institution's PAS 55 is a framework for best practice asset management for all types of physical assets across their lifecycle. Standardizing on PAS 55 can help you make clearer connections between strategic organizational plans and the day-to-day realities of asset and work management.
Contact Mincom
To speak with a Mincom representative, please complete our Contact Us form or call any of our worldwide offices directly.