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Getting the most out of your assets: maximising value for your company

Assets are vital building blocks to deliver value in any company, irrespective of industry sector and type (e.g. physical equipment, human capital etc.)
With rising prices for assets and pressure on operating margins companies need to find new and innovative ways to get the best possible return on their assets. To address these challenges a structured approach to developing a lifecycle asset management strategy is required. Luckily there are cross industry standards and tools available to help companies in this area.

Cross Industry Standards providing the framework
The Global Forum on Maintenance and Asset Management (GFMAM) has been around since 2010 and has an objective of collaboratively sharing collected advancements, knowledge and standards in both maintenance and asset management. This has also resulted in a new set of ISO standards, ISO 55000, 55001 and 55002. These documents provide a comprehensive framework for Enterprise Asset Management.

Tools that can utilize Internet of Things (IoT) information have come of age
Physical tools and software applications have reached a maturity level in the last year that allow most companies now to dramatically improve their Asset Management operations. Most pieces of hardware either come with sensors included or can be retrofitted to monitor and send information on key statistics.

Predictive maintenance
Using the analytic applications, it is possible to prevent unwanted downtime and thereby dramatically increase the uptime and reliability of your assets, as well as reduce inventory and service related costs. They are providing the possibility to look at performance trends across all assets and thereby moving from reactive maintenance to proper review the error, determine its likely outcome and decide on corrective actions to be taken.

Collaboration: Succeeding together with your vendors & customers
The tools described in the previous paragraph allow also for a closer collaboration with both your customers and suppliers. If sensors are installed on your products and an arrangement allows the collection of this information you will gain valuable insights on how your products are being used and for example also provide input on development of future products and services. In the reverse situation providing information to your vendors allows them to monitor equipment and suggest improvements or propose maintenance to prevent failure of critical equipment at your site.

Akselera helps you to succeed
Navigating these new and uncharted waters can be tricky, but the journey can be made a lot easier with an experienced hand on the wheel. In Akselera we have employees with extensive industry and asset management experience to be your trusted partner and helping your company in looking for new opportunities to get the most out of your assets and thereby helping your company to be profitable and successful.

By Akselera | 27 October 2017

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