Collaborative Asset Maintenance Strategies

Key Strategies for Effective Maintenance Operations

In asset intensive industries, such as automotive, metals, mining, oil and gas, process manufacturing, utilities, and the public sector, the reliability and productivity of capital assets is essential to an organization's financial success. Maintenance of these assets can dramatically impact the overall performance and useful life of an asset. Accordingly, asset owners/operators and asset service providers are continually trying to improve their maintenance practices. This benchmark report focuses on the strategies, processes, and technologies organizations are using to refine and enhance the effectiveness of their maintenance operations.

KEY BUSINESS FINDINGS

According to this Aberdeen report, best-in-class companies outperform their peers in improving asset availability by as much as 3:1. The benchmark report further reveals that leading companies have achieved differentiated performance in key performance metrics, including: a larger return on invested capital, greater asset productivity, improved asset uptime, and lower maintenance costs.

5 STEPS TO BETTER IMPROVEMENT

This report offers manufacturers and service providers specific recommendations for asset maintenance improvement, which include the following:

• Implement aggressive proactive maintenance strategies
• Use analytics software to measure actual asset performance against established goals
• Centralize management and control of asset maintenance
• Build a case for the CFO regarding the importance of investing to support proper service and maintenance practices
• Consider spare parts/MRO inventory planning solutions