The 10 Rights of Asset Management process is designed in such a way that ensures organizations will do the right things from the start of the need/concept right through to disposal. Organizations operate in a very competitive environment. To survive, they need to stay competitive and must continue to improve processes and get more value, both in the form of return from physical assets and high productivity from human assets (i.e., their people). They need both physical and human assets to be reliable in order to deliver more value to their customers while reducing TCO.
While many factors contribute to lost opportunities for today’s manufacturers, equipment failures and breakdowns continue to be near the top of the list.
In the early 1800s, a new technology was developed that visually captured a snippet of time. Before this, people wanting to memorialize an image were dependent on drawings, which were subject to the artist’s attention to detail, interpretation and nuance.
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Second only to energy, maintenance costs are a significant portion of every company's expense budget. Recognizing this fact, companies have implemented strategies to alter the perception that maintenance is a necessary evil to one where maintenance is considered a strong contributor to the company's profitability.
The benefits of maintaining a facility with world-class reliability are enormous and should not be underestimated. Major advantages associated with excellent reliability are higher utilization of the asset, lower maintenance costs, fewer overall people required to run the facility, better safety performance and better energy efficiency.
With over 20 years of IFM, Project, and Global Program Management experience, Brandy leads the IFM Deployment team, which is responsible for coordinating major transitions for new and expanded real estate portfolios for North American and global clients in JLL’s Corporate Solutions business.
Under ISO55000, a company must demonstrate that it is managing its assets from project phase to end of life. However, at many companies, the creation of maintenance, repair and operating (MRO) spare parts master data is typically done very badly at the project phase and continues into the asset ownership phase.
To reduce unplanned downtime for a leading Fortune 500 pharmaceutical client, Cushman & Wakefield (C&W) Services moved from a traditional route based condition monitoring program to a wireless and artificial intelligence (AI) based predictive maintenance (PdM) program. The shift in technology not only led to reduced unplanned downtime, but also a better utilization of resources and a deeper understanding of asset condition. Here’s how C&W Services approached the challenges and arrived at solutions.
When it comes to asset management, many organizations continue to be hampered by high costs, a high volume of unplanned failures and, ultimately, an unacceptable level of risk. The reason? There’s a piece missing in their asset management puzzle.
Fluid monitoring programs have long been a challenge within the reliability and operations community. For example, oil samples provide a significant amount of value in diagnosing root causes, the presence of contaminants and the measurement of oil quality. Yet, for these programs to be implemented properly, the samples must be taken at intervals more frequently than assets or personnel are available. This leads to a reliability program lacking the information required to meet reliability targets. Best in class reliability programs have found success addressing this challenge by implementing online fluid or oil monitoring programs.
Reverse logistics is becoming an integral part of operations for manufacturers, distributors and service providers so they can minimize lost revenue when moving products, parts and subcomponents back into inventory. Recent Statista research shows that returned goods cost $246.3 billion per year in North America and span customers, service organizations, supply chains, receiving departments, and even repair depot operations or subcontractors. For organizations to minimize this lost revenue, they must assess their approach to reverse logistics.