The Power of Implementing an Effective Asset Management Program

The Power of Implementing an Effective Asset Management Program

May 14, 2019 | 2 minute read


In an ever increasing cost cutting environment, coupled with an increasing global energy demand, securing robust and effective asset maintenance systems has never been so crucial. Just like a bustling city, a company needs all its parts to work efficiently and reliably to function properly. In addition, it’s critical to have all your assets—both people and equipment—work efficiently to remain productive.

Did you know that, on average, an unplanned maintenance activity takes eight times longer than a planned maintenance activity? It’s estimated that 40-50% of operational budgets are often spent on maintenance management, along with 80% of maintenance time spent on reacting to issues, rather than proactively preventing them.

Having a robust asset management program enables you to increase asset safety, compliance and availability. Whether it’s optimizing asset performance in remote locations or different applications, or even across broad fleets of equipment, a proactive, targeted asset management program enables you to manage and maintain your operational efficiency.

An effective asset management program also helps senior-level executives maximize return with an engaged, competent workforce, lower unit operating costs and generate successful production results. It also supports operating and maintenance teams by maximizing operational efficiency, optimizing maintenance activities and improving maintenance levels.

However, incomplete and outdated data often leads to inconsistent asset management, and puts the security of your future—and your employees—at risk.

Improve Your Equipment Reliability

When it comes to plant and process equipment, improving reliability is the key to ensuring uninterrupted production and lowering the total cost of ownership. It also helps meet health and safety standards and reduces environmental impact by limiting the risk of accidents.

At John Crane, our asset management team delivers services to improve maintenance processes and increase asset efficiency, providing the systems and data needed to reduce maintenance costs and keep your people and equipment safe.

Whether it’s a new build, where the behavior of new technology has yet to be seen, or established operations with the challenges of extending the life cycle of aging assets, we can provide you with the data and processes needed to maintain optimal production and industry compliance. When it comes to improved reliability, benefits include:

  • Excessive downtime is impairing production: Breakdowns can be caused by a number of factors and, in critical operations, the downtime associated with equipment failures can have a major impact on production. With more than 200 global rapid-response facilities, John Crane is able to mitigate the effects of unplanned maintenance by providing quick on-site assistance with repairs and replacement.
  • Health and safety and/or environmental risks require management: Increased reliability naturally leads to fewer failures — which means fewer opportunities for hazardous incidents and better compliance with strict environmental standards. By replacing or refurbishing existing equipment with reliable products engineered for environmental compliance, John Crane can help customers contain fugitive emissions and maintain high safety records while also enhancing efficiency.
  • A high volume of equipment failures is causing operational budgets to increase: Frequent equipment breakdowns can have a major impact on operational costs, but John Crane’s proven success with site-wide measurement and performance improvement can help reduce costs related to equipment failure.

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