From Reactive to Proactive: Elevating Your Asset Performance Management Strategy

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In virtually any industrial setting, every asset plays a critical role in operational success. Yet many organizations find themselves caught in the reactive maintenance cycle, addressing issues only after they occur. It may be time to consider a more proactive approach to asset performance. Let’s look at some of the tools, strategies, and concepts that are used in a proactive asset performance plan.

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Understanding the Asset Performance Management (APM) Journey

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Asset Performance Management is a comprehensive strategy that optimizes the performance, reliability, and efficiency of physical assets throughout their lifespan. It’s not just about fixing what’s broken; it’s about predicting and preventing issues before they impact your operations.

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The journey to APM maturity involves several key program components:

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Condition Monitoring

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Predictive/Prescriptive Maintenance

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Risk Management

Lifecycle Management

Data Analytics and IoT Integration

Workforce Collaboration

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Compliance and Regulatory Adherence

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This article examines the Condition Monitoring and Predictive/Prescriptive Maintenance aspects of the broader Asset Management Program.

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Understanding the Asset Performance Management (APM) Journey

The journey to APM maturity involves several key program components:

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Condition Monitoring

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Predictive/Prescriptive Maintenance

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Risk Management

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Lifecycle Management

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Data Analytics and IoT Integration

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Workforce Collaboration

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Compliance and Regulatory Adherence

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This article examines the Condition Monitoring and Predictive/Prescriptive Maintenance aspects of the broader Asset Management Program.

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Understanding the Asset Performance Management (APM) Journey

The journey to APM maturity involves several key program components:

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> Condition Monitoring

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> Predictive/Prescriptive Maintenance

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> Risk Management

> Lifecycle Management

> Data Analytics and IoT Integration

> Workforce Collaboration

> Compliance and Regulatory Adherence

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This article examines the Condition Monitoring and Predictive/Prescriptive Maintenance aspects of the broader Asset Management Program.

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Types of Maintenance

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Reactive, or break-fix maintenance involves fixing equipment only after it fails, resulting in higher repair costs, maintenance bottlenecks, and extended downtime. This approach is typically unplanned and can make every asset failure an emergency situation.

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Preventative maintenance follows a scheduled routine based on time or usage to replace or repair components before they fail, helping to extend equipment lifespan but leading to unnecessary maintenance.

[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.27.0″ _module_preset=”default” custom_margin=”|auto||auto|false|false” custom_padding=”30px||30px||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.27.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_heading title=”Predictive Maintenance (PdM)” _builder_version=”4.27.0″ _module_preset=”default” title_font=”Mulish|700|||||||” title_text_color=”#32215a” title_font_size=”24px” custom_margin=”||-3px|||” global_colors_info=”{}”][/et_pb_heading][et_pb_divider color=”#0c72ba” divider_weight=”1px” _builder_version=”4.27.0″ _module_preset=”default” width=”80%” min_height=”0px” height=”1px” custom_margin=”0px||0px||false|false” custom_padding=”0px||0px||false|false” global_colors_info=”{}”][/et_pb_divider][et_pb_text _builder_version=”4.27.2″ _module_preset=”default” text_font=”Oxygen|300|||||||” text_text_color=”#000000″ text_font_size=”20px” header_font=”Mulish|700|||||||” header_2_font=”Mulish|700|||||||” header_2_font_size=”32px” custom_padding=”16px||||false|false” global_colors_info=”{}”]

Predictive maintenance provides enhanced condition monitoring by analyzing trends in operational data to forecast when an asset component failure is likely to happen, allowing for more accurate scheduling of maintenance and minimizing downtime.

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Prescriptive maintenance combines data and advanced analytics to not only predict when a failure will occur but also suggests corrective actions, inventory and resource requirements, optimizing maintenance efficiency and reducing costs further.

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This journey isn’t a one-size-fits-all process. Each organization starts from a different point and may have varying end goals. Some may begin with basic preventive maintenance and gradually move towards more advanced predictive and prescriptive approaches. The key is to understand where you are now, where you want to be, and then chart a course that aligns with your specific operational needs and strategic objectives. As you progress along this path, you’ll find that each component builds upon the others, creating a more robust, efficient, and proactive asset performance management strategy.

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The Hidden Costs of “Fix it When it Breaks”

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At first glance, reactive maintenance seems cost-effective. Why invest in repairs before they’re needed? But this approach often comes with unexpected consequences:

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Increased emergency repair expenses

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Unplanned production interruptions

Maintenance bottlenecks

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Overtime costs for maintenance teams

Potential customer dissatisfaction
due to delays

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Reduced equipment lifespan

In our asset-intensive industries, these issues can significantly impact the bottom line. There’s a better way to manage our critical equipment.

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Moving Beyond Preventive Maintenance

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Imagine having the ability to anticipate equipment failures before they occur. This isn’t just a pipedream – it’s the reality of predictive and prescriptive asset maintenance. Forward-thinking companies in various sectors, from oil and gas and mining to pulp and paper, are already seeing the benefits:

Extended asset lifecycles

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Substantial reductions in unexpected downtime

More efficient maintenance
scheduling

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Improved safety and regulatory compliance

Improved process efficiency

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Enhanced overall equipment effectiveness (OEE)

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While preventive maintenance (based on calendar or runtime schedules) is a step up from reactive approaches, more advanced approaches can provide better outcomes. For example, by leveraging advanced data analytics, prescriptive maintenance identifies the root cause of potential failures before they occur, allowing companies to take specific, proactive actions, leading to more efficient maintenance, extended asset lifespan, and improved overall operational efficiency. This approach ultimately results in higher cost savings and fewer disruptions to production.

As organizations advance in their APM journey, they can move from reactive to prescriptive analytics, or virtually anywhere between on the scale, by taking several progressive steps. The most advanced maintenance techniques are predictive and prescriptive, but even this distinction is important

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Types of Maintenance

The Hidden Costs of “Fix it When it Breaks”

At first glance, reactive maintenance seems cost-effective. Why invest in repairs before they’re needed? But this approach often comes with unexpected consequences:

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Increased emergency repair expenses

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Unplanned production interruptions

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Maintenance bottlenecks

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Overtime costs for maintenance teams

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Potential customer dissatisfaction
due to delays

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Reduced equipment lifespan

In our asset-intensive industries, these issues can significantly impact the bottom line. There’s a better way to manage our critical equipment.

Moving Beyond Preventive Maintenance

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Extended asset lifecycles

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Substantial reductions in unexpected downtime

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More efficient maintenance
scheduling

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Improved safety and regulatory compliance

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Improved process efficiency

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Enhanced overall equipment effectiveness (OEE)

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Types of Maintenance

The Hidden Costs of “Fix it When it Breaks”

At first glance, reactive maintenance seems cost-effective. Why invest in repairs before they’re needed? But this approach often comes with unexpected consequences:

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> Increased emergency repair expenses

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> Unplanned production interruptions

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> Maintenance bottlenecks

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> Overtime costs for maintenance teams

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> Potential customer dissatisfaction
due to delays

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> Reduced equipment lifespan

In our asset-intensive industries, these issues can significantly impact the bottom line. There’s a better way to manage our critical equipment.

Moving Beyond Preventive Maintenance

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> Extended asset lifecycles

> Substantial reductions in unexpected downtime

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> More efficient maintenance
scheduling

> Improved safety and regulatory compliance

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> Improved process efficiency

> Enhanced overall equipment effectiveness (OEE)

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Predictive Analytics-based Maintenance focuses on short-term asset performance management, automatically monitoring for potential issues and alerting teams to anomalies.

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Prescriptive Analytics-based Maintenance goes a step further, forecasting failures, estimating repair times, and even confirming the required parts for maintenance are available.

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The transition from predictive to prescriptive analytics represents a significant leap in asset performance management sophistication. While predictive maintenance answers the question “What is likely to happen?”, prescriptive maintenance addresses “What should we do about it?”

This evolution is powered by advanced analytics and machine learning. These technologies analyze vast amounts of historical, business and real-time data to predict future asset behavior and recommend optimal courses of action. This level of insight enables organizations to confidentially make data-driven decisions that maximize asset performance, minimize downtime, and optimize maintenance resources. As a result, businesses can achieve unprecedented levels of operational efficiency and cost-effectiveness in their asset performance management strategies.

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Customizing Your APM Journey

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It’s important to note that the ideal APM strategy varies for each organization. At Dexcent, we understand that one size doesn’t fit all. We start with comprehensive assessments to determine your current state and future goals, then provide a tailored roadmap to achieve your specific asset performance management objectives.

Don’t let preventable breakdowns impact your operations. Take the first step towards a more proactive asset performance management approach that aligns with your organizational needs and strategic goals.

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Find out how we can help you on your Asset Management journey!

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