Asset management Archives | ۿ۴ý The design Experts Wed, 06 Jul 2022 15:58:53 +0000 en-US hourly 1 How to improve Maintenance Efficiency using an EAM system /blog/how-to-improve-maintenance-efficiency-using-an-eam-system/ Thu, 13 May 2021 12:51:06 +0000 https://enventure.com/?p=17003 The main goal of maintenance is to increase equipment availability and minimize failure. The most common types of maintenance are Preventive Maintenance, Corrective Maintenance, and

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The main goal of maintenance is to increase equipment availability and minimize failure. The most common types of maintenance are Preventive Maintenance, Corrective Maintenance, and Emergency maintenance. Every maintenance includes a cost to it. i.e., price of the part/item replaces or repair, cost of the labor, service cost, etc.

Maintenance efficiency indicates the upkeep effort required to deliver required performance from the equipment. Keeping track of asset life cycle and maintenance history is extremely difficult without a dedicated system. , popularly known as EAM, is software system that helps manage the complete life cycle of assets/equipment.

With EAM, technology has given a better way of managing, monitoring, and maintaining assets throughout their lifecycle to extend asset lifespan, decrease costs and optimize the standard, efficiency and safety.

Critical applications in EAM to achieve maintenance efficiency

  • Work management
  • Contract management
  • Material management
  • Procurement management

With an efficient EAM system in place, all the aforesaid activities can be easily managed and automated to a such an extent that a it reduces manual intervention at critical times.

  • Asset management: During any maintenance activity, the Asset information such as Location, Parent, criticality, Manufacturer, installed date, custodians, spare parts, safety regulations, etc. are crucial to keep the downtime as low as possible. An will enable organization to maintain and manage such information in a centralized system that comes handy and optimizes maintenance activities. For example, based on the asset’s criticality, the scheduler can assign the maintenance job to ascertain the equipment is available sooner than expected.
  • Work management: Whether it’s preventive maintenance or corrective maintenance or emergency management maintenance team/Technicians must get the work execution details to fix assets in time. With the EAM system, the maintenance engineer has all information like SOP (standard operating procedure) from the manufacturer and safety procedure to operate. This information helps in planning and work execution better. Also, the maintenance engineer chooses materials, services required and estimates the value, which is vital in analyzing the maintenance cost of the asset.
  • Contract management: As an organization, they’re many contracts associated with vendors such as price contracts, purchase contracts, warranty contracts, etc. For a maintenance engineer it is crucial to know the warranty of an asset, to manage claims and track the warranty status of each asset/equipment at times of any failures. The EAM system will enable organization to automate invoices generated based on the frequency defined within the contracts reducing the manual workload of the maintenance engineer.
  • Material management: Material management is essential as this could increase stock value, An EAM with Reorder capabilities and periodical cycle stock check will help in the decrease in hand inventory and maximizes the item available to the maintenance team. In addition, the EAM acts a centralized repository of all material information available in stock across various warehouses and regions.
  • Procurement management: An efficient supply chain is an essential factor for achieving maintenance efficiency. Procurement applications in EAM provides insights about vendor quotations, technical qualifications, and helps procurement staff to choose the right vendor. The status of materials received, status of delivery and any damages can be conveyed to vendors automatically through emails and messages without any delay. Once the service items are received, accepted and approved by the maintenance engineer, the invoices are generated accordingly.

Other benefits of features of an efficient EAM system

  • Forecast, plan, and schedule maintenance
  • Mobile inspection and mobile execution
  • On-Demand reports and scheduled reports
  • Track Key performance indicators
  • Identity and review Failure hierarchy

Do you want to learn more about Asset performance optimization and implement an ? Talk to one of our asset management experts today!

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ۿ۴ý has been Awarded Asset Life Cycle Management Contract from a global leader in coal mining /news/enventure-has-been-awarded-asset-life-cycle-management-contract-from-a-global-leader-in-coal-mining/ /news/enventure-has-been-awarded-asset-life-cycle-management-contract-from-a-global-leader-in-coal-mining/#respond Thu, 18 Jul 2019 10:24:50 +0000 https://enventure.com/?p=10610 Portsmouth, NH July 18, 2019 –ۿ۴ý was awarded a contract for Asset life cycle management by a global leader in coal mining. ۿ۴ý will develop

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Portsmouth, NH July 18, 2019 –ۿ۴ý was awarded a contract for Asset life cycle management by a global leader in coal mining. ۿ۴ý will develop the model for an effective maintenance program and will provide a complete strategy for condition-monitoring, predictive maintenance, time-based preventive tasks, spares inventory management and everything that forms a complete Maintenance and Reliability strategy.

The client is a stand-alone, metallurgical coal producer based in North America. Their surface mine operations produces over 10 million tonnes annually. The client has a great reputation amongst the global steelmaking sector for the highest quality metallurgical coals. The client is known for hard coking coals used by steel producers and coke makers worldwide.

The objectives of this engagement are:

  • To develop a (RCM)Strategy using FMECA techniques for improving the OEE of the assets with a focus on improving and sustaining maintenance and reliability; that follows the client’s Maintenance and Reliability Philosophy and Asset Lifecycle process.
  • To engage operations, maintenance, and engineering teams in collaboration and to establish focus client’s resources to do the right work, on the right equipment, at the right time, based on criticality and importance to business objectives.
  • Ensure utmost plant reliability and asset availability
  • To provide training for employees focusing on Best Practices in Maintenance and Reliability

ۿ۴ý’s comprehensive solution will provide the client with:

  • Pre-work, Planning & Training: Defining standards for all the data collected from various sources and plant locations.Identify key stakeholders and determine their roles and responsibilities.Provide maintenance and reliability awareness sessions and conduct training on Reliability processes and techniques for key stakeholders in plant operations and asset management.
  • Master Equipment List (MEL): Review the existing master list and develop a classification system and data standard for all equipment. ۿ۴ý will provide a List of Values, along with creating specification sheets/templates and generate Damage Codes and the resultant hierarchy for all equipment.
  • Asset Criticality Ranking: ۿ۴ý will incorporate the corporate criticality standards and develop a Criticality Ranking methodology and ranking criteria for all equipment across multiple plant locations.
  • Bill of Material Development: Create “Planner BOMs” for all of the equipment to ensure proper work planning and validate the current BOMs assigned to the equipment and add/remove parts as required.
  • Material Master Harmonization: ۿ۴ý will review, standardize, enhance, and update material master data standards; to properly define a material master record for both OEM and MRO parts.
  • Material Stocking Strategy: ۿ۴ý will design a comprehensive methodology by adopting the best tools to evaluate and provide risk-based stocking level recommendations for all items on BOMs developed.
  • Maintenance & : ۿ۴ý will facilitate the development of Reliability Strategies for all plant assets using a combination of RCM, FMECA and templating RCM methodologies to determine the appropriate maintenance tasks. Also, identify regulatory requirements for all assets including Mechanical Integrity Requirements, Safety Instrumented Systems, and Interlocks.
  • PMs and Work Instructions: ۿ۴ý will validate existing maintenance tasks and develop proactive tasks based on the results of the Reliability Strategy Development. This activity is followed by establishing proper task sequencing to edit, delete or create Maintenance Plans, Maintenance Items, and Tasks lists.
  • Kiran Sivadas, EVP, ۿ۴ý said, “Asset Lifecycle management in an asset-intensive industry has always been a challenging task. Our plan is to ensure effective assistance to the client in enhancing plant reliability and asset availability. We are helping the client to co-create reliable plant operations, asset availability and derive the maximum ROI from their CMMS Systems.

    About ۿ۴ý:

    ۿ۴ý Engineering (enventure.com) is a privately-held, ISO 9001:2015 & ISO 27001:2013 certified Engineering and Supply Chain Solutions company, with full-fledged delivery centers in India. ۿ۴ý has been serving clients in North America and Europe since 1997 and is today a preferred supplier of engineering and master data management services to Fortune 500 companies, across different industry verticals such as Hi-tech Electronics, Oil & Gas, Water Treatment, Automotive and Industrial Manufacturing. ۿ۴ý provides a wide variety of services to Clients, in areas such as Plant Design Engineering, Building Engineering, Master Data Management, MRO Data Services, Component Engineering, Environmental Compliance Support and Product Design.

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Improve Asset Monitoring with EAM Mobile Applications /blog/improve-asset-monitoring-with-eam-mobile-applications/ /blog/improve-asset-monitoring-with-eam-mobile-applications/#respond Wed, 26 Jun 2019 06:44:03 +0000 https://enventure.com/?p=10439 Real-time asset condition monitoring is vital for asset-intensive industries such as Oil & Gas, Mining, Power, Energy, Utilities, Manufacturing, Pharma and Chemicals. The effective asset

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EAM Mobile ApplicationsReal-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.

Do you monitor assets in real-time? Learn more from our Asset Management experts.

Learn more from our Asset Management experts.

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ۿ۴ý wins a contract to develop and implement Reliability Centred Maintenance strategy for a large producer of Thermal Power. /news/enventure-wins-a-contract-to-develop-and-implement-reliability-centred-maintenance-strategy-for-a-large-producer-of-thermal-power/ /news/enventure-wins-a-contract-to-develop-and-implement-reliability-centred-maintenance-strategy-for-a-large-producer-of-thermal-power/#respond Mon, 10 Jun 2019 13:13:06 +0000 https://enventure.com/?p=10371 Portsmouth, NH June 10, 2019 –ۿ۴ý has been awarded a contract to strategize and implement the Reliability Centred Maintenance (RCM) for 40+ power generation systems

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Portsmouth, NH June 10, 2019 –ۿ۴ý has been awarded a contract to strategize and implement the Reliability Centred Maintenance (RCM) for 40+ power generation systems for a large producer of Thermal Power. The objectives of this engagement are – to develop a Failure Mode, Effects and Criticality Analysis (FMECA), streamlined maintenance strategy, robust spares stocking strategy and precise work instructions for each equipment associated with all power generation systems.

The client is building one of the largest Thermal Power Generation plant, powered by the supercritical coal-fired power, which is set to be complete by 2020. Currently, at full swing, the plant is producing over 1200 MW energy.

The major hurdles for the client are:


  • Greenfield implementation and experience: The need is to build a RCM strategy. Since the project is a greenfield implementation, there is no past data as a reference. The asset strategy has to be developed with prior domain knowledge considering un-interrupted power generation requirement and asset criticality.
  • Scalability and Cost: The project implementation is scheduled to be complete within six months, and there was a need for the highest skill levels in . Amongst the various options, the client chose to sign up with ۿ۴ý having domain experts available on-demand. While compared to hire resources on contract, train, and then relieve them is otherwise expensive.

Under the terms of the contract, ۿ۴ý will identify and analyze each system comprised of multiple equipment. The scope of engagement includes the strategy and implementation of RCM by performing these activities:

  • Develop a maintenance strategy for each equipment which includes function, functional failure, failure part, failure mode, failure cause and criticality.
  • Formulate a control strategy (maintenance action)to define equipment servicing frequency and on-going condition monitoring along with work instruction, which results in maximizing Overall Equipment Effectiveness (OEE).
  • Develop a system level maintenance manual and define limits and maintenance recommendation for all its associated equipment.
  • Generate recommendations on spare part requirement, based on the maintenance action. Design a spare part stock holding manual that covers spare parts level characteristics such as OEM / part number details, reorder level, max holding level, similar spare parts quantity, frequency of spares requirement.

“ۿ۴ý’s commitment to modernize asset management practices and expertise in asset reliability, condition monitoring, and sustainable maintenance strategy, has helped asset intensive global organizations,” said Kiran Sivadas, EVP, ۿ۴ý Engineering. “We are honoured to work with one of the largest producers of Thermal Power and enhance their asset optimization strategy by delivering ROI based maintenance plan.

ۿ۴ý brings to its work for the asset-intensive organization experience with sustainable asset management, including an array of services such as condition monitoring, plant maintenance, and spare parts strategy implementation to date.

About ۿ۴ý:

ۿ۴ý Engineering (enventure.com) is a privately-held, ISO 9001:2015 & ISO 27001:2013 certified Engineering and Supply Chain Solutions company, with full-fledged delivery centers in India. ۿ۴ý has been serving clients in North America and Europe since 1997 and is today a preferred supplier of engineering and master data management services to Fortune 500 companies, across different industry verticals such as Hi-tech Electronics, Oil & Gas, Water Treatment, Automotive and Industrial Manufacturing. ۿ۴ý provides a wide variety of services to Clients, in areas such as Plant Design Engineering, Building Engineering, Master Data Management, , Component Engineering, Environmental Compliance Support and Product Design.

Contact:

E-mail: info@enventure.com
ۿ۴ý
Visit us at: enventure.com

INDIA

Regd. Office:
124, HAL Airport Road,
Bangalore – 560017
Tel: +91.80.4116.1000,

USA

Pease International Tradeport
One, New Hampshire Avenue, Suite 125
Portsmouth, NH 03801
Tel: +1.603.766.4960

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Why Asset data integrity is important? /blog/why-asset-data-integrity-is-important/ /blog/why-asset-data-integrity-is-important/#respond Wed, 05 Jun 2019 05:42:02 +0000 https://enventure.com/?p=10400 Plant asset data should be genuine, complete, trustworthy and should provide relevant information. Data integrity refers to data accuracy that provides usable, reliable information for

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Plant asset data should be genuine, complete, trustworthy and should provide relevant information. Data integrity refers to data accuracy that provides usable, reliable information for business decision making. Maintaining asset data integrity is a complex process existing at both task and strategic business levels. Good data helps for proper analysis, creation of information and right decision. Also, the data should be readily available.

The major changes in the plant that affect the data integrity are operational changes that are implemented and Process changes. Changes in machine parameter settings, the addition of data into the system like work order history, predictive/preventive maintenance results, all these create new data or replace the existing data. Asset data is dynamic and it is important to understand the process that address data integrity at all levels. How can we expect accurate business decisions if the information received is inaccurate, out of date due to failure to keep up with the dynamic changes that impact the assets? To have an accurate and timeliness in data, you need to pay careful attention to the assets’ lifecycle and the data that is changed during the assets’ life cycle.

Data accuracy leads to effective work, increased reliability, improved safety, and environmental performance. All these aspects of the business are directly linked to the profitability of the organisation. Maintaining data integrity is not just the responsibility of stores or maintenance supervisor. It is a shared responsibility throughout all executive levels including the CEO.

Organization wide awareness to be created on the value of maintaining accurate data and the downside of not maintaining it is understood, there needs to be something done about it.

Need to make the data integrity -whether entry of new asset or upgrading existing data -a part of every project and every work initiative. This approach makes the data integrity everyone’s job. To have optimum data integrity, the roles and responsibilities should be clearly defined, and the overriding data process is clearly mapped. A robust data management process ensures data integrity and continually demonstrates the value of data integrity.

What are the key elements to ensure data integrity

  1. Data modelling frame work
  2. and architecture
  3. Robust processes with people accountability
  4. system

Our MDM services ensure data integrity of the data architecture.

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It’s time to Improve your Asset Lifecycle with EAM /blog/itss-time-to-improve-your-asset-lifecycle-with-eam/ /blog/itss-time-to-improve-your-asset-lifecycle-with-eam/#respond Wed, 15 May 2019 07:55:36 +0000 https://enventure.com/?p=10307 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

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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.

Talk to an Asset Management Expert

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Impact of DATA QUALITY on efficient Asset Management /blog/impact-of-data-quality-on-efficient-asset-management/ /blog/impact-of-data-quality-on-efficient-asset-management/#respond Mon, 25 Feb 2019 07:20:53 +0000 https://enventure.com/?p=9917 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

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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, ۿ۴ý 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’.
Talk to our Asset Management Experts

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