There are many benefits of asset performance management (APM). APM software solutions significantly extend what an enterprise asset management system alone can offer. APM solutions give companies the ability to manage, maintain and track assets, plus the ability to use this data to drive decision-making in areas such as:
Maintenance
- Deploy your maintenance resources for maximum effectiveness
- Manage work order processes
- Model various scenarios to determine optimum preventive maintenance schedules
Inventory/Warranty
- Save money by reducing inventory levels of spare parts
- Control purchase order processes and ensure that parts are procured just in time
- Track and use warranty information
Uptime
- Forecast likely failure points and the reasons for them
- Determine alternatives to increase your uptime
- Model the alternatives to select what’s right for you
Reliability and Risk Management
- Determine equipment-based maintenance schedules using real data
- Pinpoint unreliable assets, suppliers and processes
- Predict reliability issues before they happen
Strategic Planning and "what-if" scenarios
Use an APM solution when planning to answer strategic questions:
Which plant or line is going to under perform?
Which asset or resource is going to pose a problem?
What impact will changes in the schedule have on other activities?
Which course of action will get the company back on schedule?
If the availability of an asset is increased, what ripple effects will that have?
Which equipment is costing money and should be replaced?
How often should preventive maintenance be scheduled to optimize uptime?
Taken as a whole, these decisions and the subsequent actions that companies take lead to optimized performance of the asset—and really, isn’t that what it’s all about? Find out how Datastream's Asset Performance Management solution can benefit your organization.