Asset Operations Management | Four Key Ingredients

After outlining what Asset Operations Management means for maintenance, reliability, and operations teams, we decided it was time to dig deeper. For the next few weeks, we’ll outline the eight pillars of Asset Operations. These are the core ideas behind the larger concept, and they’ll provide a better understanding of what Asset Operations truly encompasses.

So far we’ve covered:

• Pillar 1: Maintenance, Reliability, and Operations Must Operate Together and Be Aligned on Achieving a Common Goal

• Pillar 2: Data Must Flow Into a Single Repository

• Pillar 3: Measure Teams Based on Why They Do Something Rather Than What They Do. 

Today we’re covering Pillar 4: Relentlessly Collect the Right Data, Display the Best Insights, and Provide Actionable Feedback Through a Centralized Command Center

Deliver the Future Today

The next generation of maintenance will come from collecting the right data, displaying the best insights, and providing actionable feedback for maintenance, reliability, and operations teams to deliver on.

There are four key ingredients to that mindset:

1. Passive data collection

2. Active data collection

3. Predictive models and algorithms

4. Workflow engine

Passive data collection means collecting data automatically without human involvement. This process gets the right data at the right time, and in turn, allows technicians to focus on more complex problems and collect even more compelling data actively. 

All this data then feeds into an automation pipeline, where predictive models built on years and years of historical findings will help define what work needs to be done, and when, using a workflow engine. And this cycle continues over and over again. Every time it’s complete, one will see improvements not only on machinery but also on the bottom line. 

Good Data In, Good Data Out

It all starts with how you’re monitoring your equipment. It makes zero sense to use valuable man-hours to record entry-level data into any system when it can be completed automatically. Not only are you able to get better, more accurate data with passive data collection, but you’re also freeing up these valuable resources to track and fix higher impact issues. And on top of that, passive data collection is one of the only ways to truly record unplanned downtime events, which is one of the top things a company should want to avoid and track correctly.  

Asset Operations Management makes it easier than ever for employees to record the complexities that modern technology can’t automatically record or capture. And all of this data can be fed into the future with predictive modeling; however, predictive capabilities and insights all start with data—good data in and good data out. 

Ensuring users have as little friction as possible in getting the right data into the ecosystem is a key tenant of Asset Operations Management. The cleaner and more consistent data you have, the more you’ll be setting yourself up for success in the future.

Get an Implementation Process Together

Implementing a new process at any company can be filled with headaches. Something might sound good on paper, but how do the teams get to that point?

When implementing Asset Operations Management, the process needs to be sufficiently outlined, complete with timelines and milestones. Some key points to consider include:

• How data will be collected and put into the system

• What hardware will be needed to support the platform and objectives

• What workflows employees will need to follow

• What training will look like

• When each task will be completed 

• Who will perform each task

It’s critical to ensure the whole organization is part of the implementation process, but it also helps to have a champion who will spearhead the operation and help bring all other parties together.

Redefine Maintenance, Reliability, and Operations 

It’s tempting to put new initiatives aside and justify inaction to yourself. But if the COVID-19 pandemic has taught us anything, it’s that significant events can happen at any moment. Teams must be prepared.

Asset Operations Management is purpose-built to bring together maintenance, reliability, and operations data to inform business decisions, with full visibility across the entire life cycle of maintenance, asset management, and operations.

For more on Asset Operations Management, check out:

• What Asset Operations Management Means for Maintenance Teams

• What Asset Operations Management Means for Reliability Teams

• What Asset Operations Management Means for Operations Teams