08 Nov The Benefits of Asset Tracking. Click to keep reading…
While the top 100 manufacturing companies continually focus on lean processes and capitalizing on new technologies to stay competitive, the small to mid-size manufacturers do not always have the flexibility and capital to explore these strategies. So how can the masses reap the benefits of current trends? Organizations can take steps towards improving efficiencies on the machines already in-house through asset tracking. Many of our manufacturers are taking advantage of asset tracking and have seen the benefits it brings.
We all understand the importance and impact well-run and maintained machinery has on the production and overall costs associated with our products. To successfully implement an asset tracking strategy, manufacturers must work to collect sensory data on how machines are performing and being maintained. This sensory data will help in scheduling preventative maintenance and identify output trends to help stay ahead of any potential looming issues, and by doing so, saving any costs associated with a machine going down, and the time required to get up and running again.
The data collected from asset tracking and functionality reports can provide benefits outside of the physical improvements of keeping a machine running. As you collect data, you will better understand cycle time and output potentials, helping you to lean your internal processes related to getting a machine up and running between jobs.
While the thought of collecting this data through asset tracking can seem cumbersome, the benefits of improving on capital already in-house is an excellent and cost-effective way of leaning out internal costs with limited investment.–Commentary provided by Zack Hicks, Business Development
Carl Phipps
Posted at 22:23h, 12 NovemberI suggest Lupton associates provide this asset (Industrial engineering) to those small-midsize companies that would like to grow and multiply the profits. The company that has requested the product to be built at one of the small-mid size companies would have sponsorship of this process. Henceforth would be cost reduction seen on this next run or PO. It not just maintenance on mature assets, one must be mindful of process control from day one after PO has been accepted.
I think you get the idea, we started this program at CM’s, huge success, these are CM’s that annual revenue of $500 K to $4.7 B. Viasat has shown and provided excellent cost reduction thru our coaching process.