Enventure awarded an Asset Lifecycle Management contract by an Iron Ore mining major in North America

November 25, 2019

Portsmouth, NH November 20, 2019 – Enventure today announced that it was awarded a contract for Asset Lifecycle Management by an Iron Ore mining major in North America. Enventure will perform a detailed systems study of the current Asset Register, Asset Structure, and Spares Criticality camp;

Inventory and develop a strategy to improve asset performance and enhance plant up-time. This engagement is expected to have a direct impact on the ROA with high asset reliability and optimized spares inventory.

The client is a champion in iron mining, development and exploration. Till date, the client has produced over 500 million tons of Iron Ore and has got the best Iron with low amounts of aluminum, phosphorus and silica. Their major challenges are:

  • Poor Overall Equipment Effectiveness (OEE)
  • Increased unplanned asset maintenance
  • High MTTR and MTBF
  • Bad MRO data causing spare parts stock outs and high inventory
  • Inaccurate parts and supplier information resulting wrong procurement

The engagement will ensure that the client’s has accurate asset classification, asset BoMs with spare parts criticality, preventive maintenance schedule, optimized MRO spare parts inventory, and also

Enventure will help to design a Reliability Centered Maintenance (RCM) strategy. A team of asset management specialists with exclusive mining industry experience will manage the project. The solution approach is split into major activities that have a huge impact on asset uptime, supply chain efficiency and plant operations such as:

  • Prepare Asset Register with classification: Accurately classified list of assets / equipment with type, location and description with key parameters.
  • Asset BoM Building: Hierarchical BoM building of assets with required spare parts information.
  • Item Master Cleansing and Enrichment: Classify, enrich, and standardize the item master, eliminate duplicates, validate supplier information, and associate Item Master to the equipment
  • Spare Parts Criticality Analysis: Assign criticality based on probability, impact and risk of failure, and lead time of spare parts
  • Preventive Maintenance Scheduling: Design a Preventive Maintenance Schedule based on FMECA.
  • Reliability Centered Maintenance (RCM) Strategy: Develop an RCM strategy based on functional failure, failure modes, failure effects and its consequences.

The benefits for the client from this engagement include high asset uptime, reduced inventory cost, as well as an enhanced production capability supported by pro-active maintenance strategy. The business gets to make informed decisions with the help of real-time asset performance and inventory data.

Kiran Sivadas, EVP, Enventure said, “Our asset lifecycle management services ensure that the clients achieve optimal return on assets, maximize the efficiency and cost-effectiveness of the assets throughout their lifespan. Our highly skilled maintenance and repair operations team ensure that clients get the right and effective Reliability Centered Maintenance strategy (RCM) to support reliability, safety, operational availability and compliances requirements”.

About Enventure:

Enventure Engineering (enventure.com) is a privately-held, ISO 9001:2015 & ISO 27001:2013 certified Engineering and Supply Chain Solutions Company, with full-fledged delivery centers in India. Enventure has been serving clients in North America and Europe since 1997 and is today a preferred supplier of engineering and master data management services to Fortune 500 companies, across different industry verticals such as Hi-tech Electronics, Oil & Gas, Water Treatment, Automotive and Industrial Manufacturing. Enventure provides a wide variety of services to Clients, in areas such as Plant Design Engineering, Building Engineering, Master Data Management, MRO Data Services, Component Engineering, Environmental Compliance Support and Product Design.

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