, a major Australian company at the leading edge of IT design for asset management presents a new software capability that provides the missing link between actual asset performance and key business performance criteria.
Designed for executives as well as maintenance and asset management professionals to monitor in real time the business performance of their company’s physical assets even via their mobile phones or iPads, Mainpac Asset Intelligence software module is a new way of measuring the business impact of asset performance, allowing executives to take control of the process.
According to Andy Mason, Mainpac’s CEO, Mainpac Asset Intelligence enables organisations to confidently establish asset management strategies that will create additional profit at minimal extra or even reduced cost.
Companies need to make their physical assets work more productively to help improve productivity and profitable performance. Sustainable solutions are also required for companies to manage their machinery and avoid critical breakdowns.
It is difficult and expensive to run multiple KPI criteria against plant performance such as plant availability and operational effectiveness as well as for important supporting functions such as procurement, inventory efficiency, or labour input without running separate operational asset management and strategic decision-support systems.
With the introduction of Mainpac Asset Intelligence software, companies can run everything in one system in real time against the set KPI criteria, providing the basis of revised operational plans and practices within a continuous improvement feedback loop.
Mainpac Asset Intelligence uses the information captured by Mainpac2011, the company’s newest release of software for maintenance and asset management. The new software will help enable a new generation of asset management strategies to be developed so that company directors can achieve stronger financial and operational performance of their assets and consequently better corporate governance.
Mainpac Asset Intelligence helps organisations achieve these things by increasing asset performance to improve the top line, by reducing the cost of maintenance to improve the bottom line and by managing business health and compliance to protect stakeholders from risk.
Mr Mason believes that companies today should have an asset management strategy, which sets levels of performance for asset productivity, inventory and spare parts holdings and procurement. Additionally, the strategy should establish what rates of improvement are expected and how the organisation should meet changing business conditions.
Mainpac Asset Intelligence equips executives with a customisable dashboard offering intuitive KPI trend analysis, easy to use search filters for dynamic ‘slice and dice’ and ‘drill down’ access to source information. A selection of 60+ business metrics covers critical maintenance and associated asset management lifecycle functions.
Mainpac’s approach to asset intelligence combines daily operations and asset intelligence in one cohesive business process and technology framework.
Asset intelligence measures actual performance against KPIs, trends over time and enables management to drill down to fine levels of detail, requiring a process of continuous improvement.