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Has Your Industrial Asset Maintenance Program Flatlined?

Has your organization taken all the possible steps to ensure your success? Industrial organizations spend considerable time and effort planning and strategizing to maximize production, minimize downtime, and prevent equipment failure. These are critical aspects to ensure success in the industry.

 

Has Your Industrial Asset Maintenance Program Flatlined?

Some of the steps typically taken in the drive to operational excellence include:

  • Implementing OEM Alarm Management
  • Adopting Condition Based Maintenance
  • Optimization of Production Processes

These steps allow the gathering of the low hanging fruit from the asset management tree, ensuring early success and immediate benefit to the organization. Eventually, even with all the above tools implemented, the reach of your asset maintenance program is limited and will hit a plateau where no further advantage can be effectively realized.

How to Know if Your Asset Maintenance Program has Flatlined

The two primary key performance indicators of a successful AMP are lower costs for the maintenance of the organization’s assets and increased availability and readiness of those assets. The most important signs of a flatlined asset maintenance program are: an extended cost-avoidance plateau, and an inability to reach ideal asset availability targets.

  • Cost-Avoidance

Your organization’s cost avoidance is the lowering of maintenance costs for your assets. The further, or the more consistently, the costs are lowered over a certain period of time, the greater the cost avoidance.

Organizations should expect at least a three to five percent decrease in asset maintenance costs annually. If your organization isn’t meeting these benchmarks, it may be the case that your asset maintenance program has reached a plateau. 

Most of the low-hanging fruit solutions will get you to this plateau point, but for most organizations, this point is not their optimal target for annual cost decrease.

Cost avoidance graph.png

 

 What if you could close the gap in the graph above and reach your optimal cost avoidance target? You would be able to not only stop your program from flatlining, but also take it to the next level. You would be able to close that final, elusive, gap between your maintenance costs and your KPIs.

A solution that can do this has to be able to perform the difficult, complicated analyses that other asset maintenance solutions can’t.

  • Asset Availability Target

Are you meeting your asset availability and uptime targets? A major sign of an asset maintenance program flatline is an inability to meet ideal targets. For most organizations, an asset, and its ability to perform at peak, is the key to production performance, whether in mobile or fixed assets

Asset Availability graph.png

The ultimate goal, then, is reaching an asset availability or uptime milestone that you’ve never been able to reach before. Truly eliminating the space between where you are today and your availability targets.

To close the gap in the graph above, you need an advanced solution to asset maintenance. You need a solution that will get you the valuable fruits at the top of the tree; the ideal production performance.

There is a system that can improve both your cost avoidance and asset availability.

The Dexcent Solution to Improving Industrial Asset Maintenance Programs

If your organization isn’t achieving it’s best possible asset availability, or if you haven’t seen a significant decrease in cost annually, it might be time to consider a serious addition to your asset maintenance program. The Dexcent Asset Analytics Solution (DAAS) goes further than just jump-starting programs that have flatlined; it takes them to the next level.

Related: Take Your Industrial Asset Monitoring to the Next Level

DAAS will change the way your organization detects and responds to asset health concerns dramatically. 

DAAS is engineered to be a “fruit at the top of the tree” solution. We do the complicated analyses that others don’t or can’t. DAAS is the solution that will close the gaps in the cost-avoidance and asset maintenance graphs.

Dexcent DAAS positioning graph.png

How does this work? DAAS is automation for data analysis. It takes the intuitive understanding of abnormal operating states and root-cause analytics that a subject matter expert has and applies it automatically, continuously, and consistently, even in the midst of unreliable and partially delayed data streams.

If you are interested in learning more about DAAS and the Dexcent solution, visit our website, or contact us today.

Posted on Dec 19, 2017 10:00:00 AM by Dexcent Team in Asset Performance Analytics 

Dexcent Team

Written by Dexcent Team