Asset Management Services Archives | �ۿ۴�ý

Improve Asset Monitoring with EAM Mobile Applications

�ۿ۴�ý — Wed, 26 Jun 2019 06:44:03 +0000

Real-time is vital for asset-intensive industries such as Oil & Gas, Mining, Power, Energy, Utilities, Manufacturing, Pharma and Chemicals. The effective asset management can be achieved when your CMMS or EAM systems keep track of the assets and notify the team about asset criticality on demand.

In order to tackle this, there are a variety of EAM Mobile applications available that enables plant maintenance executives to monitor assets on the go. But one should be careful before selecting the right mobile application for EAM, otherwise, the investment made may not yield the desired result. Below are few key points to be considered before going for a mobile application.

What business functions should move into a mobile application?

Functions which require real-time asset monitoring and management must be identified and prioritized since it is not practical to move all business functions of an EAM into mobile. At the first, Service engineers, plant maintenance staff, and plant operations team at the production site who are working remotely, maintenance schedulers should get all functions to access, capture and manage everyday operations. Work order management, inventory status check, and asset performance management are few key functions required to be in the mobile.

Is it simple to use?

Mobile application will be used by engineers to perform plant maintenance on the field or in a remote production site with extreme conditions such as mines, chiller plants, etc. They should be able to record/update the data on the field and hence the mobile application should provide a simple and faster experience for maintenance technicians. Another important factor is the selection of the device and the sturdiness. The device should withstand the extreme temperatures and high drops.

How secure is your application?

The need for data security is high due to backward integration to organization’s ERP, CMMS and EAM systems. Developers must ensure all transactions are encrypted to avoid malware that challenges the safety of the organization’s data. The encryption should provide for tracing back messages, notifications and any actions either at the end user or server level. The mobile application should also contain GPS tracking to trace the lost device or misuse.

Possible for Online Application Updates?

Mobile application development is not a one-time deal but an ongoing activity. Mobile platforms and trends change quickly, and applications need to be ready to change with them. Make sure the application is planned for updates and future ready.

How rugged is the device and the platform?

Another tough job is device selection, mostly the maintenance engineers work in harsh environments such as mines, chiller plants, smelters, thermal plants, etc and electronic devices fail at such extreme conditions hence the offshore device must be sturdy to operate.

Can it scan bar codes and view document?

The solution must be capable of reading bar codes which will help technicians to quickly report any anomalies and eliminates the errors. It is also good to have advanced features like geo-tagging which will identify the functional location of the asset and quite useful in auditing and tracking of equipment. Document viewing is also important for technicians when fixing assets where SOP (Standard operating procedures) are stored in .pdf.

Can it perform tasks in offline Mode without data loss?

Most mobile application requires an internet connection for the functioning of the app. But in contrast, EAM users work in remote areas where internet connectivity is not consistent. Consider a transmission and distribution industry where technicians/users perform transmission lines inspection in very remote areas and sometimes inside mines. The mobile solution should have an online mode and offline mode. When online data is synchronized with the system an offline user can perform his tasks/duties in without loss of data and synchronized when the device comes online.

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It’s time to Improve your Asset Lifecycle with EAM

�ۿ۴�ý — Wed, 15 May 2019 07:55:36 +0000

Today’s business world is posed by the high pressure of increasing overall efficiency and cost optimization, especially the asset-intensive organizations, as they are challenged to balance between asset cost, risk, and performance. Usage of system to maximize the performance and economic value of your complex asset is the key to align with the overall business strategy.

Traditionally, plant and asset operations are cost centers trapped in the paradigm of continued investment on fixed assets. Powerful EAM systems are built with a focus on optimization methods to improve maintenance costs and life-cycle costs, thereby increasing the asset uptime and reducing inventory costs.

What do you achieve from Improved Asset Lifecyle:

Predictive analysis: Identifying and addressing asset performance issues before they become problems. As the word goes “Prevention is better than cure” it is imperative for plant engineers to recognize asset abnormalities and early signs of equipment failures.
Visualize asset performance: Capture insights of actual and expected asset performance including detailed information on asset operating conditions, uptime, operating modes, and availability.
Improved OEE:The higher Overall Equipment Effectiveness (OEE) is influenced by Availability, Performance, and Quality of assets deployed at the plant. Predictive analysis & real-time performance monitoring will enable better OEE to eliminate bottlenecks in plant operations and improve the efficiency of production planning.
Work order efficiency: Real-time performance analysis will enable proactive initiative to generate work orders and will potentially avoid plant outages. This will reduce unexpected asset failure and free the plant engineers for other planned maintenance activities.
Cost-effective procurement: An effective will directly influence the procurement patterns, inventory carrying costs and vendor negotiations.

How does EAM impact various Industries?

Each industry variant has its own set of challenges. While the underlying business objective remains unchanged – reduction in asset downtime and increase in the bottom line. Here are a few industry specific benefits:

Industry	Benefit
Manufacturing	Insights into the health of machine components and manage the maintenance, repair, and classify the possible failures which increases OEE (overall equipment effectiveness) and overhaul of (MRO) activities.
Oil and Gas & Mining	Asset-intensive process industry requires real-time monitoring of assets for capturing incident investigation and track the action to be performed for reliable plant performance.
Medical and Life sciences	Automates work management, enables efficient inspection process, supports audit trails and enhances accurate document control
Transportation and logistics	Reduces unplanned road calls, on-demand compliance documentation like condition, road tax, insurance, etc which is key while scheduling vehicle to the drivers. Precise tracking enhances overall customer satisfaction.

Didn’t find your industry here? Learn more from our Asset Management experts about optimizing asset performance, reducing unplanned asset downtime and reducing maintenance costs. Write to us at info@enventure.com.

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Impact of DATA QUALITY on efficient Asset Management

�ۿ۴�ý — Mon, 25 Feb 2019 07:20:53 +0000

Effective asset management at any plant involves multiple functions and is a process that begins even before the plant begins operations and continues even through the decommissioning process. In addition to dealing with active plant demands, requires companies to keep future plant requirements in mind, while also addressing historical needs. Asset-intensive organizations invest billions of dollars in various ERP, EAM, and CMMS systems – such as IBM Maximo, SAP PM, Oracle EAM, Infor EAM, and others – to meet their plant maintenance and reliability goals. Although the tools are expected to make much more efficient, the end goal is often not met, due to inefficiencies in the data backbone that drives these systems. The lack of good quality data often leads to decisions made on the basis of judgment rather than being data driven. This can lead to less effective strategic business decisions, increased costs, customer dissatisfaction, and loss of revenue. In some cases, it could also lead to catastrophic consequences such as a sudden breakdown of critical assets which leads to plant shutdown. The crux of the issue is that processes, as well as analytics, depend heavily on the data within the system, which includes details of the assets, the MRO materials/spares associated with the assets, as well as the transactional data. When these data points are flawed, it can throw the entire system out of sync, leading to poor decisions making capabilities, wrong analytics, and an overall high-risk high-cost environment. Data needs to be accurate, complete, and completely relevant, otherwise it often does more harm than good. Accurate data quality impacts various aspects of the business, such as: Maintenance Strategy: Accurate spare parts data ensures faster retrieval of parts and quick execution of work orders generated, which leads to a considerable reduction in MTTR (Mean Time to Repair). Inaccurate asset data results in incomplete maintenance plans causing extreme overutilization of skilled resources, apart from pushing up costs and increasing downtimes due to maintenance activities. Organizations often do not have good quality asset BOMs available inside the EAM / CMMS systems, which makes it very difficult to ensure availability of critical spares, affecting plant maintenance activities. Asset Availability & Plant reliability: Accurate asset data helps reduce the number of stock-out related downtimes. An error in parts data can lead to equipment downtime, bringing down the entire production line. Not only would these hamper the efficiency of manufacturing plants, but also cause considerable delays in the entire value creation chain and ultimately affect profitability. Spare Parts inventory: Optimized spare parts inventory helps reduce maverick purchases, bring down carrying and procurement costs. Surplus, obsolete and duplicates inventory parts need to be cleaned up and eliminated, to achieve optimal inventory levels. Clean spares data is also crucial for good SPIR records (Spare Parts Interchangeability Record). Engineering & Planning: Analyzing life-cycle costs of equipment is the key to decide which assets to buy maintain or retire, considering total cost of ownership over the asset’s lifetime. When evaluating investment alternatives, the right data about spare parts consumption, asset failure and maintenance schedules help the engineering and maintenance teams to conduct an FMEA with Criticality Analysis & Reliability-centered maintenance (RCM) to improve the reliability of assets and to plan predictive maintenance. Spend Analytics: The direct cost savings opportunities lie in managing risks and optimizing the organization’s buying power. The accurate data inside EAM / CMMS systems help analyze spend by commodity or category, spend by transactions, total spend on a particular asset, spend by each function, spend on expediting spare parts, etc. This data provides insights into the overall spend and helps identify cost savings opportunities, streamline maintenance and procurement process. With two decades of experience in for multiple industries, �ۿ۴�ý has seen companies make large investments in CMMS / EAM systems. But they end up loading legacy data into these systems – data that was inaccurate, incomplete, or irrelevant. This often happens due to lack of visibility into how much the data quality affects the ROI on the system investment.

It doesn’t matter at what stage you are – whether you are considering a new CMMS/EAM system or struggling to get value from an implementation you did a while ago – talk to one of our Consultants today to see how you can enhance your organization’s asset management efficiency. We believe in ‘Efficient Asset Performance’ and not just ‘Asset Management’.

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