Establish Asset Management Metrics to Drive Significant Business Improvements
Establish Asset Management Metrics to Drive Significant Business Improvements
Today, manufacturers use globally distributed enterprise assets to meet corresponding geographically diverse market demands. These assets are commonly in different lifecycle stages and operated with varying degrees of effectiveness. Successful companies manage these assets in a systematic way that optimizes utilization and maximizes overall profitability.
There are a number of business drivers motivating the investment in asset utilization optimization. Measuring key performance variables provides the foundation to identify issues, develop solutions, and implement improvements. These metrics help companies establish a performance baseline benchmark to which ongoing operational performance can be compared. When these metrics are expanded across the enterprise to facilitate cross-site benchmarking, they also enable companies to holistically manage assets through key activities like best-practice sharing and improved production scheduling to drive overall asset utilization improvements.
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