Benefits of Restructuring Your Asset Hierarchy

It’s time to restructure your asset hierarchy to reap the benefits of your EAM/CMMS system. Unplanned downtime can be a cash bleed for any sector that deals with manufacturing. To reduce the risk of unplanned downtime, you should record and extrapolate from failure data.?

Easier time for Technicians and Maintenance Planners?

Organize your asset hierarchies intuitively for technicians to find the correct piece of equipment efficiently. The hierarchy can be area-based or relationship based. Still, it should be structured and have some parent-child relationship because the maintenance technician diagnosing a piece of equipment would expect to know the serial number, model, and description of that asset. They can’t create work orders if they do not know what piece of faulty equipment to replace. Restructuring your asset hierarchy will allow technicians and maintenance professionals to streamline their workflow.?

?

Effective Asset Management?

Predictive maintenance is highly cost-efficient – you can save over 40% on expenses compared to reactive maintenance. However, you can waste time searching for basic details such as model and identification without an organized asset hierarchy and asset register because of poor record-keeping and naming conventions. Unstructured asset hierarchies can lead to poor records of failure data leading to assets being undermaintained or over-maintained. Both options can result in increased failure and maintenance costs. Therefore, a structured asset hierarchy is a key to decreasing failure rates and cost-savings.?

?

Unlock the Full Potential of your EAM/CMMS system

It is nearly impossible to receive the business benefits of an EAM system without accurate and complete asset data. Instead of purchasing new software, it is cheaper and more cost-efficient to spend time cleaning up lousy quality asset data. If you do not worry about the quality of your data before you migrate, you will have to spend more money to fix it when you realize it’s unusable.?

?

NRX AssetHub, powered by HubHead, helps asset-intensive businesses restructure their asset hierarchies to achieve high-quality asset and maintenance data for its EAM and CMMS systems. If you want to learn more about our solution or help optimize your EAM system reach out to me today!