‘Holistic approach’ to asset management gains traction

Companies with comprehensive asset management programs use multiple maintenance management programs to improve daily performance and ensure the ongoing health and longevity of mission critical equipment.

05/11/2006


Companies with comprehensive asset management programs use multiple maintenance management programs to improve daily performance and ensure the ongoing health and longevity of mission-critical equipment. One strategy being more actively pursued by better performing companies, however, involves rationalizing data across all asset-related systems and databases. In fact, one-third of the 156 manufacturers recently surveyed by Aberdeen report they are improving interoperability and building data models to unify operational data.

By taking a holistic approach to asset management, best-in-class companies are better able to optimize the performance of their plants and equipment and avoid unplanned downtime and unneeded maintenance, says Aberdeen.

Forward-thinking companies are also leveraging information contained in existing asset management systems to empower decision-makers. They are doing this 55% more frequently with Web-based performance analytic tools than their poorer-performing competitors, according to Aberdeen.

The Asset Management Benchmark report also reveals that best-in-class companies are extending core systems by leveraging emerging technologies, such as smart devices six times more frequently than industry average and 'laggard organizations.'

According to Aberdeen, the study demonstrates a strong link between OEE (overall equipment efficiency) performance and the:

  • Formalization of processes,

  • Ability to share knowledge, and

  • Appropriate deployment of process automation and emerging technologies.

For related reading from Control Engineering , see ' Building Bridges to the Enterprise .'

—Renee Robbins, editorial director, Control Engineering,
renee.robbins@reedbusiness.com





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