Maintenance & Reliability News - Maintenance Journal
Maintenance & Reliability News - Maintenance Journal
Maintenance & Reliability News - Maintenance Journal
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Drive Asset Performance and<br />
Deliver Stakeholder Value:<br />
Four Powerful Opportunities to Maximize Uptime and<br />
Minimize Costs with MRO Analytics<br />
Andy Hill, CEO, Oniqua MRO Analytics<br />
Analytics help you visualize exactly how effective<br />
and efficient your maintenance activities are,<br />
benchmarked against best-in-class. You can easily<br />
identify focus areas for improvement.<br />
In this example, Preventative <strong>Maintenance</strong> and<br />
Planning already meet best-in-class standards,<br />
while the other functions require various levels of<br />
improvement to come up to best-in-class.<br />
[end graphic and caption<br />
50<br />
AMMJ<br />
July 2013<br />
With all the buzz around analytics in the technology<br />
universe, it’s hard to sort out hype from reality. The<br />
truth is that analytics present organizations with an<br />
exciting new frontier for extending and leveraging their<br />
investments in transactional systems like enterprise<br />
resource planning (ERP) – and the technology is<br />
proving its value.<br />
Transactional systems like ERP and enterprise asset<br />
management (EAM), and decision support tools like<br />
business intelligence (BI), can only take your data<br />
so far. Most businesses that use these systems are<br />
swimming in data -- but exploiting a mere fraction of<br />
available information. Information that could be used to<br />
make better, faster, smarter decisions. Information that<br />
could be leveraged to improve business results.<br />
Analytics extends ERP, EAM and BI by extracting data<br />
held in these systems, refining it using sophisticated<br />
algorithms and applied domain expertise, and delivering<br />
it as actionable information that can help you make<br />
highly effective decisions very quickly.<br />
In the field of MRO analytics – analytics for<br />
maintenance, repair and operations – the opportunities<br />
are significant and the results speak for themselves.<br />
By providing insight into complex asset performance<br />
management challenges, MRO analytics help assetintensive<br />
businesses reduce risk, maximize asset<br />
availability, minimize costs and reduce business risk.<br />
Whether you’re just finding out about analytics, or<br />
are looking for ways to get more out of your current<br />
analytics solution, these four analytics-enabled<br />
practices offer golden opportunities to maximize<br />
asset performance, minimize costs and drive<br />
stakeholder value:<br />
1. Inventory optimization: It’s never too late to save<br />
with inventory optimization. The practice is arguably<br />
one of the best investments available to any assetintensive<br />
company. Companies that don’t have an<br />
analytics-based inventory optimization process<br />
are wasting precious working capital and risking<br />
production down-time.<br />
2. New item management: Bringing new items into<br />
inventory continues to be a stumbling block for many<br />
companies. A lack of science in this process will<br />
result in excess inventory in the future.<br />
3. Manage supplier performance: If you don’t<br />
already measure your suppliers’ performance, why<br />
not? It’s easy, and measuring supplier performance<br />
helps your supply partners improve. Suppliers<br />
genuinely want to deliver the right materials to the<br />
right place at the right time. Implement supplier<br />
management and be amazed at how quickly they<br />
respond.<br />
4. Master data governance: Smart companies are<br />
finally recognizing the value of high quality data, not<br />
only as an enabler for analytics, but as a necessary<br />
foundation for efficient processes. Some are even<br />
managing their data like another asset. Getting it right<br />
is not easy, but it can be done.<br />
Plant <strong>Maintenance</strong> Benchmark Scores<br />
A = %Estimated Replacement Value; B= Planned Work;<br />
C=Preventative <strong>Maintenance</strong>; D=Captured Work;<br />
E=Inventory Turn; F= Inventory Service; G=Overtime;<br />
H=Planners; I=Support; J=Training<br />
A<br />
10<br />
I<br />
H<br />
J<br />
G<br />
MRO analytics presents golden opportunities for assetintensive<br />
companies – and the applications are rapidly<br />
advancing to offer new and exciting capabilities. What<br />
opportunities could MRO analytics help you leverage?<br />
How could analytics capabilities make you a hero to your<br />
management?<br />
www.oniqua.com<br />
8<br />
6<br />
4<br />
2<br />
0<br />
F<br />
B<br />
E<br />
C<br />
D<br />
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