A great preventative maintenance or PM plan is the key to the management of the physical assets of a business. Sometimes referred to as Enterprise Asset Management or EAM, your PM plan needs to cover your assets throughout its life cycle, from acquisition through the operational life of the asset, through operating life, to a planned decommission date.
These days, there are lots of sellers who provide software that gives management a way to view all of the assets that their company owns. The purpose is to let managers control and improve the quality of their operations. When first released, EAM was just called maintenance scheduling software. The software helps with day to day company operations by automatically requesting upgrades, scheduling equipment maintenance and managing the decommissioning or replacement of old worn out products.
Asset management is important as it allows managers to increase asset performance and maintain a continuous output. It also allows preventative work to be done to stop breakdowns before they even happen. In addition to preventing breakdowns, these maintenance programs ensure that the necessary parts and resources are always on hand.
Does your company manage your physical assets effectively?
We surveyed a group of experts including manufacturing consultants, customers, and analysts and asked what they think are the most essential elements of a PM plan. Here is what the survey revealed as the 10 most important parts of an overall asset management program:
1. Use Your Data History to Develop a PM Scheme.
Start with planned worked orders and then drive accountability to the process. Pay attention, gain from your experience, and as the organization grows in adherence, look to your data history to help in moving to a Preventative Maintenance scheme so that regular maintenance occurs at the correct time.
2. Keep Track of Maintenance Expenses.
Businesses should carefully track costs associated with the maintenance of an asset as well as its production rates. A new asset could potentially provide a better return when considering the added maintenance expense of an older machine.
3. Carefully Track your MRO Supplies.
Maintenance, repair and operations supplies should be treated as inventory and tracked with the same care as raw materials and finished items. Maintenance supplies shouldn’t be an afterthought as this could lead to poorly maintained equipment, excessive machine down time, errors in orders, angry staff, or expensive repairs.
4. Use Updated KPIs (Key Performance Indicators).
Be sure to implement a system that provides real time KPIs. This includes equipment uptime and downtime, average time between inspections, mean time between machine failure and the average return that the machine provides.
5. Keep Track of Costs.
Implementing an integrated Enterprise Management System gives a business the ability to track the full lifecycle of the asset from when it is purchased, its use and maintenance, all the way to decommission or disposal. This information allows the business to determine the cost impact of preventative maintenance while at the same time reducing operating costs and prolonging the life of the asset.
6. Create as Effective Plant Management Solution.
Coming up with an effective plant maintenance solution give the ability to predict repairs and control the impact they have on the business. A plant management solution also allows you to minimize downtime by effectively managing inventory and labor.
7. Incorporate Maintenance into the Production Schedule.
Production schedule visibility is a vital part of optimizing plant asset values. When scheduling preventative maintenance, don’t assume that repairs will be necessary right when they are predicted. To truly get the most out of the machine’s value, it is important to incorporate maintenance costs into the production schedule.
8. Integrate Resources to Service Agreement.
Link each resource and activity to the service agreements to allow the system to generate an effective maintenance calendar. Logs and PM cards don’t allow maintenance managers to easily evaluate how effective the maintenance was. Any third-party work should also be included in service agreement.
9. Provide Necessary Information to Maintenance Staff.
To effectively maintain critical plant assets, and provide effective customer service, your staff needs current, up to date information to help them improve the up-time and longevity of equipment. Recording and analyzing all of this information in one integrated system can help ensure that real time accurate KPI’s and reports are generated…
10. Ensure Integration of your ERP and Plant Maintenance Systems.
Plant Maintenance working together with ERP allows users to perform real-time management of plant assets, thus ensuring a longer overall life span of equipment and essentially boosting its value.
Having a great preventative maintenance plan implemented in your business will not only help save time and money, but it will also prevent employee satisfaction and assure that project deadlines aren’t missed because of equipment failure. Introducing an EAM plan into your business is much easier than it sounds, and is an important way to maintain continuous product outflows.