Asset Intelligence and Management

Asset Intelligence and Management

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5 Actionable Maintenance Management Practices to Lower Equipment Downtime


Maintenance management is a comprehensive process that involves maintaining a company’s assets while controlling costs and ensuring efficient equipment performance. 

Why is it important?

Companies with different types of equipment can suffer from setbacks due to untimely breakdowns that can halt the production process. Statistics show that the average cost of unplanned equipment downtime can go up to $260,000 per hour. Malfunctioning machines with frequent breakdowns can add to total downtimes costs in the following ways:

  • Issue detection costs: Equipment downtimes costs begin with issue discovery and investigation expenses incurred to determine what’s wrong. This takes up the company’s time and resources and sometimes also requires external expertise. 
  • Lost capacity: Unexpected downtimes can cause a plant to operate at suboptimal capacity due to malfunctioning equipment. This means that the plant has to make up for the lost capacity at a later stage at an additional cost. 
  • Reduced user productivity: Breakdowns often entail lost user productivity in cases of unavailability of equipment and machines. Employees have to compensate for the lost hours later.  

How to implement robust maintenance management for your company?

In order to reduce equipment downtime and optimize performance, it is important to implement a robust maintenance management system. The best way to do so is to automate maintenance routines with an asset tracking software. 

 Here are 5 ways automated maintenance management can help your organization lower downtime:

1. Centralized data

Delayed maintenance is often the result of inadequate  preventive measures. Failure to maintain updated  asset records means that the organization has no way of tracking maintenance schedules. I A tracking software eliminates this problem by enabling you to collect all information on  a single centralized platform. 

Cloud-based software can store all asset data with the help of barcode labels. Real time asset tags can be used to retrieve maintenance information about equipment. Moreover, labels make it easier to check-in equipment for service while maintaining records of each session. If a piece of equipment needs to be serviced after every use, you can automatically send it for servicing as soon as it is checked back in. All these updates are visible on the dashboard calendar.

Having all asset related data available in a single place is highly beneficial for technicians looking to fine tune preventive maintenance practices. Instant access to asset history also makes it possible to plan for future service sessions. 

2. Service alerts

Automated maintenance routines improve business functionality and efficiency as they occur at a fixed schedule. Technicians can easily set up service alerts in a tracking software that email notifications to the relevant employees and stakeholders. This way maintenance is predictable and streamlined with no confusion or delays. 

For a major maintenance event, organizations may need to shuffle around project schedules. This mainly happens due to the unavailability of a certain machine or equipment. In order to minimize capacity loss, service alerts help supervisors make alternate arrangements on time. In this case the company can rent the required equipment and avoid  unnecessary equipment downtime costs. 

Read more: 5 Benefits of Using Maintenance Management Software

3. Work log accountability

Streamlined maintenance management requires all personnel involved in the process to carry out their duties diligently. This includes the technical staff at the office as well as the vendors and manufacturers listed on the service tickets. With an automated tracking system, maintenance work logs can be created for transparency about the whole process. 

In case there is a lag at any stage during the maintenance process, the supervisor can simply look at the work log to see the hold up. Direct accountability speeds up the issue resolution process. Efficient work log management has a significant impact on maintenance management as it resolves instances of equipment downtime in a timely manner.

4. Real time inventory records

Cloud based inventory management enables you to check which equipment parts are available in stock. You don’t even need to visit the warehouse to go check for replacement parts manually. This saves time and speeds up the maintenance process. With an automated inventory tracking system, you can even set low stock threshold levels so that you never run out of critical spare parts for maintenance. 

Low stock alerts can be scheduled so that new parts can be purchased without halting the maintenance process. Over time you can even separate out defective parts from inventory to reduce equipment downtime. 

Read more: Maintenance Work Order Best Practices

5. Efficiency evaluation reports

There are multiple factors that contribute towards equipment downtime in a facility. In order to design an effective maintenance management program it is important to conduct a thorough investigation of related departments. This can be done by running regular evaluation reports to examine facility functions. 

With all equipment and maintenance data recorded in a cloud based system, you can easily run accurate reports. Access to such reports enables you to study which departments are facing the majority of equipment failures. Such insights can reveal external sources of defects that need to be addressed. For instance, an equipment may be overused beyond its useful hours that may cause high downtime. 

A complete audit of the organization will give you a clearer picture of how to design the maintenance management routine to minimize equipment downtime. 

Automate maintenance management for improved productivity

Robust maintenance management is the combination of the right tools and practices to achieve lower equipment downtime. Without the correct system in place, it can be quite  challenging to control facility downtimes. An equipment tracking software enables you to run automated maintenance schedules and service tickets from a centralized platform. 

In order to ensure timely service, you can also set up service triage and recurring maintenance practices for all equipment and tools. This way all tools will be serviced and ready in time for business functions. Other than this, a tracking system also enables you to monitor work orders for maintenance. Such practices ensure transparency and accountability while keeping delegated users in check. Invest in a cloud based equipment management system to boost productivity levels for your organization. 

About EZOfficeInventory

EZOfficeInventory is a leading equipment tracking software. It allows you to track, maintain, and report on inventory from anywhere, at any time.  We offer a free 15-day trial – no credit card required!

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