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Enterprise Asset Management: Cost Avoidance

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Uploaded on Apr 23, 2009

http://www.ibm.com/software/tivoli/so...
Timothy Biernacki of Baker Energy speaks about asset management, and his approach in building an overall maintenance management strategy and philosophy. Proper usage of an asset management system can significantly help maximize the utilization of both operating and IT assets and helping reduce cost and ultimately provide solid return on asset (ROA).

Transcript: Well, with a with a good maintenance system in place, and, as I stated before, Maximo is just a piece of a maintenance system you also have your maintenance strategy and your maintenance philosophies on how youre going to maintain your equipment. And Maximo helps you to succeed in keeping that strategy and that philosophy. One of the things that Maximo can do, if its utilized correctly, is you can start doing what I call campaign-type maintenance, where, when youre tracking your assets on different facilities, and youre looking at your work plans out in the future, youre able to utilize your workers a lot more efficiently, in order to take care of your assets.

Well, what it is a good maintenance management system is hard to sell, and the reason it is hard to sell is because it costs money to implement, and you dont get a bottom line. What you get is cost avoidance, what I call cost avoidance. How can you-you put a price on cost avoidance? Cost avoidance an example of cost avoidance is, say, youre doing a project, youve got two or three projects going on at once, and youre ordering spare parts, in order for the operations group, when they take over. So, instead of ordering what the vendors recommend, you go through, you look at all the assets, you find the like type of equipment, you know, assets that are the same, your instrumentation thats the same, throughout the four or five projects that are going on, and youre able to consolidate all of the information that you have there. And then, you can make true recommendation on how many spares you need to store onshore for your facility. Now, in the past, my experience is you can have a cost avoidance of-of millions of dollars. One client we had, we avoided about five and a half million worth of parts that they wouldve ordered if they had not looked at the whole entity of projects that they had going on in the same area.

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