September 13, 2022

Predict and Optimize the failures and, manage the vendors and their quality checks

Manufacturing Industry always played a stellar role in the growth and development of any industrialized country. The evolving and growing countries place manufacturing at the driver’s seat in their journey of economic growth. The share of manufacturing in GDP is therefore a basic indicator of the significance of the sector in any country’s economy.

In the recent period, manufacturing holds a share of 14% of India’s GDP. For advanced and developed nations like Germany, the USA, South Korea, and Japan, the comparable figures are 19%, 11%, 25%, and 21% respectively. For emerging and developing countries like China, Turkey, Indonesia, Russia, and Brazil the corresponding figures are 27%, 19%, 20%, 13%, and 9% respectively. For low-income countries, the share is 8%.

In recent periods Several factors contribute to stress and disturbances in Manufacturing sectors such as:

· Handling large infrastructure

· Critical shopfloor automation of assets

· Effective supply chain management

· Tracking of asset performance and energy consumed for production

· Breakdown and condition monitoring

· Data analysis for failure and risk calculations etc

The asset management system is a single solution to address the above challenges, as the solution can assist the organization to classify the hierarchy of assets and undertake proactive or reactive and prescriptive maintenance practices for efficient delivery. The system can alert the stake holders about the failures and loss of revenue for the decision-making process.

The enterprise asset management (IBM Maximo) can integrate to shop floor assets for real-time monitoring of rated performance and output delivered. Energy Consumption and economy are a few vital analytical statistics that can provide dashboards and reports.

The EAM System can play a vital role in the process and discrete industries where precision equipment in assembly lines, HVAC systems reactors,blenders, paint shops mixtures that are controlled by PLCs and automation sensors in adhering to international standards

The data available can analyze the spare management and advice decision-makers on the procurement cycle and save vital revenue for the industry. Asset management can predict and optimize the failures, manage the vendors and their quality checks.

The asset management system can plan and schedule the labor associated with certifications for enhancing knowledge enablement.

Maximo enterprise asset management system with good maintenance practices can extend the life cycle of an asset, reduce downtime and improve labor utilization which results in substantial savings for an organization.

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