04 Dec

Workforce and Asset Management

The work force is aging. As baby boomers get ever closer to retirement, the average age of employees increases. This is a trend seen in many industrialized countries and poses its own challenges. In the business world, this changing demographic can have a significant effect on asset management.

Asset management involves how to optimize operational performance and profitability of a business. Life cycle cost and return on investment play a huge role in the optimization of a plant, but equally important is the value employees bring to the business. The longer they work with assets, the more they understand the variables that affect them. With the right automation, these skills can be maintained in the workforce even as employees retire.

Sophisticated control systems have the ability to measure and record more information about a plant than ever before. When installed by industry experts, these systems also learn the finer points of each asset. In this way, the skills and knowledge of current employees can be passed down and built upon by new hires.

Synergy understands the great benefits employees provide. We have grown in our expertise of asset management and are committed to optimization of operational performance and client profitability. This is why we make a point to train client employees, the greatest asset to every business, on all new asset management systems we install.

 

16 Oct

The Asset Management Strategy

Modern instruments now go beyond customization and data collection. Each device in the field, be it an analyzer, valve or otherwise, can be programmed to collect larger varieties of data and disseminate it into actionable information. Alerts and device consistency can be constantly measured and updated, automatically collecting data for audits.

The above is the heart of asset management, operating intelligent hardware in a plant to ensure the fastest reaction time and actionable information. In short, optimized asset management provides the following:

  • Maintenance which considers the entire life-cycle of an asset
  • Real-time diagnostics
  • Dissemination of relevant information to different parties in the business
  • Central location for information
  • Pro-active maintenance
  • Extension of equipment life
  • Reduced downtime
  • Documented asset history

Installing an asset management system has long term benefits, but will require a culture change. Planning is critical because staff and plant engineers act as first responders to any issues in the plant. Decide where all information assembled by assets will be gathered and how it will be collected, making sure desired information lines up with the company mission and goals. With a plan in place, explain to the staff how the system will make their job easier and more efficient. In addition to earning their support, their feedback is crucial for optimization of the asset management strategy.

Collecting data, including asset trends, operating manuals, specification sheets and alert logs, is only half of what asset management provides. The benefits extend to pro-active maintenance that can result in the optimization of the plants as a whole.  Devices can be observed by their history, allowing those prone to failure to be identified and dealt with. Every asset in the plant becomes modifiable. This coupled with a pro-active staff creates a culture where operation can be constantly improved and strategies for monetary savings are always active.

With optimally implemented asset management, even plant areas that traditionally have only used up funds, like boiler rooms, become a site of monetary gain. The data provided by the system becomes an asset in itself, to be used as a tool to save money, fuel and energy.

This article was inspired by this Intech article