A custom template with embedded business intelligence that guides the user through a set of questions that are unique to any given asset that is being inspected.
The team replaced subjective opinions of condition with objective criteria and standards, enabling fact- based decision making on needed investments.
Electronic real time aggregation of data resulted in over 50% reduction in the time spent accomplishing inspections in the legacy paper based environment.
Provided a complete equipment inventory including related conditions.
Allowed management to have an accurate view of all equipment for improved planning and management of related Facility Management efforts.
The ability to have an accurate equipment list loaded within the CMMS made it possible to improve accuracy of financial forecast for Preventative and Corrective Maintenance activities by over 15%.
The client was able to formalize the program and establish a five-year capital plan and associated budgets and required actions.
Decisions regarding proactive replacement of end of the life equipment could now be performed with view to the entire portfolio and the related condition, improving the decision making and prioritization which decreased overall risks.
Having a reliable asset management program allowed the client to accurately forecast future actions, thus allowing them to aggregate their sourcing for purchases of replacement equipment as well as related services, conservatively saving over $5M annually.
The end goal in portfolio and process management is optimization. Capital-intensive assets are distributed to best meet demand, and the organizations responsible for long-range planning and utilization are fully in control.
Outdated business processes are strangling organizational goals of increased productivity and flexibility. Employees struggle to achieve basic awareness of assets, working through disconnected database and functional silos.
A strong process and information foundation creates a platform from which higher value goals can be pursued. Increased operational awareness, better decision-making and shared information lead to a sense of gaining control.
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