The client and context:
A manufacturing company with several production facilities spread across different regions, including Asia, Europe, and the Americas, approached us for help in delivering operating and maintenance services for their assets. The client wanted to optimize the performance of their assets against the costs and investments throughout the entire asset life cycle. The client had been experiencing several challenges that included a lack of standardization in their asset management practices, limited visibility into the asset life cycle, and an inability to predict asset failures. These challenges had led to high maintenance costs, low asset utilization rates, and reduced profitability.
The challenges:
We faced several challenges in delivering the required services. The client had several different types of assets, ranging from heavy machinery to IT systems, and we had to come up with a plan that would work across all these different types of assets. Additionally, the client had limited data on the performance and maintenance history of their assets, which made it difficult for we to come up with a comprehensive asset management plan. Finally, the client had multiple stakeholders with different priorities, and we had to ensure that their plan would meet the needs of all these stakeholders.
What we Did:
To address the challenges faced by the client, we took a phased approach to the project. The first phase involved conducting a comprehensive assessment of the client's asset management practices. This assessment helped we to identify the areas where the client's asset management practices could be improved. In the second phase, we developed a comprehensive asset management plan that included standardization of asset management practices, improved visibility into the asset life cycle, and predictive maintenance practices to reduce asset failures. The third phase involved the implementation of the asset management plan, which included training the client's staff on the new practices and processes.
What we achieved:
As a result of we's efforts, the client was able to optimize the performance of their assets against the incurred costs and investments throughout the entire asset life cycle. The client was able to reduce their maintenance costs by 15%, increase asset utilization rates by 20%, and improve profitability by 10%. The standardization of asset management practices also helped the client to improve compliance with regulatory requirements, which reduced the risk of penalties and fines. Finally, the client was able to improve their customer satisfaction ratings by reducing downtime and increasing the reliability of their products.
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Expert Team
Expert Team
Howard Ramsden
Managing Partner, South Africa | Renewable Energy, Data infrastructure, Project Management
Steve Yi
Senior Partner, Korea | Marketing, CRM, Customer Service
Vinod Sasidharan
Partner, India | Automation, Digital Transformation, Tech Implementation
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