MRO and ASSET MANAGEMENT
A recent White Paper report highlights the ongoing pressure faced by MRO procurement professionals and engineers to reduce operational budgets, cited by 55% of 851 procurement professionals as their biggest pressure. This was followed by reducing inventory costs (52%) and improving asset performance (42%) as the top concerns – while ensuring contract compliance and maintaining ageing assets were the biggest day-to-day challenges. While identifying these operational issues only 7% of respondents said their company had a strategy in place.
By offering a complete condition and asset monitoring turnkey package, from industrial repairs and parts manufacture and supply, through to MRO procurement and site analysis we believe we can reduce costs like no other business in our industry. By offering an easily accessible on-line asset management and monitoring service, coupled with a coordinated stock rationalisation program – we reduce operational and inventory costs through focused management and understanding of the production facility and operational spares available. Initiated from our site audit, we then structure a maintenance schedule working with engineers to enhance and develop spares availability while mitigating the risks associated with production failure and the costs associated with unplanned downtime and emergency repairs.
Predictive Analysis
Predictive analysis is the heartbeat of our business.
We operate Failure Modes and Effects Analysis (FMEA) which integrates with our manufacturing and repair facility. When creating an FMEA, the primary purpose is to minimize the impact of unplanned events on safety, the environment and business profitability – while optimising the long-term cost of ownership of a typical asset.
By carrying out a criticality analysis, we can effectively determine the impact a potential failure has to an organisational performance, therefore we systematically rank the work prioritisation of an asset through preventative or predictive maintenance, spare availability and reliability improvement initiatives.
Through working with maintenance and engineering departments, we evaluate previous operating strategies and existing maintenance schedules and gather past failures to detail prospective analysis. From this, we can calculate the operating cost of plant and equipment and factor this to prioritising fixed monitoring systems and wireless networks, all mitigating potential risks to production and profitability.
From this, we can quantify and prioritise to mitigate the risks associated. Each asset is evaluated and given a risk priority number (RPN), the cost of downtime and likelihood of failure increases this number, which effectively focusses the predictive maintenance team to assess the opportunities for improvement.
The potential failures curve below highlights the detection process to remove additional costs associated with unplanned downtime giving the customer warning of critical failure.
We can remove this risk by installing our remote monitoring system – designed to be installed on high level RPNs to constantly evaluate potential failure, 24hours a day.