If your employer is flush with resources and life is easy, consider yourself blessed. For us normal Joe’s our margins are thinner than a slice of salami, operations are tight and competition is more fierce than ever before which makes a proper asset management solution vital. “Asset Mis-management” can impact your company’s bottom line and is a major competitive disadvantage. NetFacilities CMMS with Asset Tracking Management including Down Time Tracking will provide peace of mind and ROI.
In the average manufacturing or distribution operation maintenance department costs may be 5% to 15% of operating costs. The positive financial impact of asset tracking and management impacts all parts of your operation.
The time and cost of repair of malfunctioning equipment can be three to five times the cost of planned repair and maintenance of the same equipment, prior to failure. That cost can go up dramatically if the equipment failure also results in an injury to an employee.
Nobody has to tell you that when disruptions occur, you need to react to them as quickly as possible in order to minimize the amount of time lost. Every hour without necessary replacement parts is an hour of productivity lost; historical machine downtime analysis establishes benchmarks and minimizes unplanned production downtime. Reduced costs because of the reduction of downtime and more revenue due to improved capacity are just some of the benefits your business can obtain using NetFacilities CMMS with Asset Tracking Management.
Since assets have value, it’s important that you know where your assets are at all times, and they must be maintained at the very least in accordance with the manufacturer’s recommendations, and must be maintained by proficient technicians applying modern maintenance best practices.
CMMS plays a critical role in achieving the most optimal results. Without it out, you’re likely to see a shortened life-span. With a well implemented CMMS program you’re able to track the purchase price, planned preventive or scheduled maintenance, unplanned or emergency repairs, and depreciation over the life of the asset.
A world-class asset management program can keep breakdown maintenance to less than 5% of all maintenance man hours. If it’s more than 25% this probably is a serious competitive liability. Once asset tracking and management is in place, total cost of maintenance may be reduced to half compared to a mostly breakdown approach.
Unreliable equipment is a main cause of lost production capacity. This lost capacity can result in problems with current customers and make it harder to attract new ones. The cost of these lost opportunities varies with each business and each problem, but it will bring many multiples of maintenance departmental savings by using an asset tracking and management software, especially if the system is web/cloud based.
Because of today’s lean manufacturing world, many businesses sell everything they can make. The longer assets can go before a breakdown and as uptime improves your business may be able to convert this improved capacity to additional business and ROI. Keeping existing equipment running may also allow postponing investment into new equipment as well as newly budgeted, valuable resources.
To learn more about how we can help your business reach its goals in cutting costs and boosting revenue, contact us today by calling us at (866) 979-4300 or send us an email at email@example.com
Don’t take our word for it, try it for yourself!