Industries such as Oil and Gas, Power, and Utilities have struggled with quantifying impacts of unplanned downtime, and studies revealed that these industries average downtime of about 22 to 25 days/year, and the financial impact is around US$28 to 36 million/year.
The approach to understanding downtime costs is to analyze the expenses associated with it (repair costs, labor costs, logistics, and spares), and these expenses can be accurately identified, only if you have good quality underlying data on MRO materials, work orders and other related data points. The downtime is often caused by issues with the maintenance strategy or availability of critical spares, both of which are very much avoidable issues. In order for a maintenance program to work well and ensure the availability of critical spares, it is imperative to have the MRO data complete, and accurate, and to have it classified according to an industry-standard such as UNSPSC or eCl@ss. The Asset Register is also key, to make sure the assets and equipment are up-to-date, ideally with a spares BOM associated with each equipment.
Maintenance and reliability professionals struggle with not having their visibility into the assets and MRO parts, while procurement professionals struggle with not having the right MRO data to support efficient procurement.
At Enventure, we have been solving these issues for clients for two decades now, saving them millions of dollars over the years. Our approach includes conducting workshops, MRO data blueprinting, taxonomy implementation, MRO data cleaning and enrichment, data integration with SAP, Maximo, Oracle, JDE systems and MRO data governance.
|CHALLENGES FACED BY CLIENTS IN THEIR INITIATIVES ARE||AND OUR APPROACH TO SOLVE THIS IS|