Enventure to support an Iron ore mining major with its Asset Criticality, Reliability Centered Maintenance, and Inventory management

Portsmouth, NH August 18, 2019 – Enventure has signed a contract to help a large Iron ore mining company, with its Asset BOM building, Defining Asset Criticality, BOM and Spare Parts Master data management. The project is to transform the client’s manufacturing, supply chain, and plant operations to enhance asset availability and plant uptime.

The client is a mining major in North America known for producing high-quality iron concentrate while minimizing the environmental footprint. The client has over 25 years of anticipated mine life, with over 500 million tonnes produced to date.

The major challenges for the client are:

• High Asset life cycle cost
• High Mean Time to Repair (MTTR)
• Low Overall Equipment Effectiveness (OEE)
• High spare parts obsolesce and inventory
• Poor Predictive analytics

The objective of the contract is to improve Asset Availability, Asset Performance, and Optimize the MRO spare parts inventory. The scope of work for Enventure includes:

• Asset classification – Create an asset register covering more than 8000 assets in their plant operations. Validate the data by Model /Make and enrich with additional attributes for easy identification.
• BOM Building – Build an asset BOM for all the assets in multiple languages such as English, French, Spanish, and German by extracting the spare parts information from various documents and also directly contacting the OEM manufactures. Categorize the spare parts into repairable and non-repairable (Replacement).
• Spare Parts Master – Standardizations and deduplication – Classify, enrich and standardize 30000+ spare parts as per ISO 8000 industry-specific Taxonomy in multiple languages. Identify the duplicates and create interchangeability record. Standardize the vendor details and manufacturer part numbers.
• Asset and Parts Criticality Analysis – Conduct asset criticality assessment through FMECA and build Reliability Cantered Maintenance Strategy (RCM) for Critical Assets. Also, identify the critical spare parts and device a stocking strategy.
• Develop a Preventive Maintenance (PM) schedule for Assets based on the cruciality and failure history.

“Our comprehensive asset lifecycle management services will help the client in their Asset Management initiative and reshape the effective utilization of available plant resources. The data-driven, performance-centric approach is what we believe will benefit the client in boosting asset availability while reducing inventory and improve profitability in the long run. Our services not just help to improve the OEE, it also helps to optimize the lifetime cost of its assets and build an effective spares inventory management strategy,” says CK Bharathan, VP – Operations Asset Management Services, Enventure Engineering.

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.