Asset Intensive organizations require large amounts of investment to produce a good or service, and therefore have a high percentage of fixed assets (property, plant, and equipment (PP&E)). Having a high performing, reliable asset base is critical and embracing digital disruption is a crucial step.
Digital Disruption is the change that occurs when new innovative digital technologies and business models affect the value of existing goods and services.
How is this digital movement affecting asset intensive organisations?
Just 10 years ago there were only two broad categories of digital solutions for asset intensive organisations to use to manage their enterprise assets.
There were point solutions, to solve a particular problem at particular times – but the technology could not be leveraged across the organisations. The other system available was enterprise solutions – that provided only a single platform, but required extensive research and development to solve business problems and deliver a return.
Digital Disruption has been a positive outcome for Mainpac’s clients, as the digital movement has made the technology platforms much more readily accessible and interoperable with other technology solutions.
Our Mobile, data analytic and automation solutions can be implemented into an organization much faster and more efficiently, and most importantly, at a lower cost. Nowadays systems are more readily extensible and interoperable with other technology solutions. This creates opportunity for asset intensive organizations to identify areas of its business that it can achieve a payback period of 18 months or less and invest in these technologies in a manner that delivers a rapid return and builds on its automation and decision making capability.
Remember the days when we had a Nokia mobile for making phone calls, a Sony discman for listening to our music, a desktop computer for our emails, and Kodak camera to take photos? Digital Disruption gradually phased out the need for all of these items and Apple created automation of these devices and put them all in one place with the iPhone.
The automation of Mainpac’s EAM system and interoperability with operational, financial and decision making applications means information is connected across the enterprise, managed in one place and accessible in the right places. Information is collected and stored in the moment. Asset Planning, Preventative Maintenance, Work Management, Inventory and Purchasing are all simple, efficient and integrated using our EAM solution.
Mainpac EAM allows you to easily track and manage asset availability and performance, as well as balance maintenance and replacement costs. The software allows you to reduce operational costs and risks, and ensure the maintenance practices meet corporate and regulatory requirements. As Digital Disruption continues to unfold we could see fewer and fewer processing jobs within asset intensive organizations, freeing the enterprise to invest its human capital where it counts, at the point of value.
Once upon a time Nokia was one of the main players of Mobile devices in the world. Now we hardly ever hear the name unless we are watching a television show from the late 1990’s. Now, looking at iPhones and other smartphones such as Samsung, and most recently the development of tablets: everything is touch screen whilst being interactive. Therefore on these devices work can still be done and projects managed outside the office, while on the go.
Mainpac Mobility is an optional module we offer that extends the value of Mainpac EAM to field staff with tablet devices. It increases asset utilisation, improves staff productivity and enables better in-field decision making. Mainpac Advanced Mobility allows field staff to continue to work even when connection to the server is not possible. Staff simply continue to work using the client server located within the device. When they come back in range of the wireless network the system synchronises with the main server, downloads completed work and uploads new work – simply and efficiently.
This system is just another example of how Digital Disruption can be positive for asset intensive organisations. With the clients we work with, the amount of time saved in accessing, retrieving, processing, entering, and reduction in data loss, whilst being able to continue to manage assets whilst out of the office is invaluable.
As digital disruption continues to advance in the area of data analytics there will be more sensors, more data collected and increasingly smarter results based on all information gathered.
Mainpac’s innovation in this area was to create a decision making platform addressing asset portfolio governance, investment planning, operational planning and real-time response to operational events in the form of Asset Intelligence.
This system enables organizations to draw insights from different data sources, thereby enriching decision-making in a shortened time frame.
Using this Asset Intelligence program allows asset intensive organisations to maximise their plant productivity and return on investment by providing insight and evidence to drive better asset decisions. The tool allows organisations to develop and manage the delivery of strategically aligned plans, addressing level of service, cost of ownership and portfolio risk, while providing real-time information to optimize operational decisions.
The four Mainpac Asset Intelligence modules can draw information from Mainpac EAM or other operational applications to provide detailed predictive analytics. The system also permits interdependent capital budgeting metrics and measurements to be brought together in a single database, whilst dynamic algorithms to be generated for multiple scenarios.
The final information provided can be formatted and presented in easy to read interpretable graphs and tables to that critical information can be conveyed clearly to all stakeholders. This tool connects day-to-day operational metrics with corporate strategy and performance.
Overall in an asset intensive organisation, digital disruption can create a substantial positive outcome as innovations such as Mainpac’s asset management systems can be utilised to optimise the life cycle of a business asset as well as maximise staff productivity. Therefore increasing the organisations Return on Investment.