When it comes to measuring success, there’s nothing more important than setting measurable benchmarks and defining key performance indicators (KPIs).
For maintenance professionals, measuring key metrics is made easier with computerized maintenance management software (CMMS). Use a CMMS to visualize KPIs with custom dashboards, so maintenance professionals can get a sense of how well the organization is (or isn’t) hitting its targets.
So what should you measure? Use a CMMS KPI dashboard to measure impact on high-level, bottom-line business goals or get as detailed as you can with metrics on specific asset types in terms of brand performance comparisons (do certain TVs really outlive others?). Consider KPIs that track asset lifetime health, labor productivity, inventory investments and more. With a CMMS, maintenance professionals can measure asset performance across a variety of KPIs.
For more information on how CMMS helps maintenance teams measures success to achieve key business objectives, continue reading below.
Did you know that 98% of organizations say a single hour of downtime costs more than $100,000? Because of this, a solid maintenance strategy is critical for reducing downtime duration.
When a machine breaks down, operations come grinding to a halt. With a CMMS, maintenance professionals can store key asset details in one central hub. In doing so, maintenance professionals can develop internal benchmarks based on maintenance history to pinpoint inefficiencies. This improves operations by allowing maintenance to easily extract and analyze data to diagnose recurring breakdowns and calculate average downtime across the facility. As a result of fewer repairs and replacements, maintenance professionals can make more informed decisions for increased uptime and reliability.
2. Maintenance Budget
Maintenance professionals are often tasked with the job to forecast budgets. With multiple factors at play, it’s a task that requires sound historic spend reporting and predictive insights. This can be tricky, considering the frequency of inventory stockout, unplanned downtime, machine repairs or equipment replacements.
With the help of a CMMS, maintenance teams can pinpoint underperforming machines and actively service assets to ensure that breakdowns are lessened. Fewer breakdowns occur when assets receive regular maintenance. As a result, maintenance professionals can better understand how much time and money is being spent on an asset to determine when to repair versus when to replace. This helps to control costs by properly tracking and reporting total money spent.
3. Asset Lifetime
According to Investopedia, the useful life of an asset is an estimate of the number of years an asset is likely to remain in service for the purpose of cost-effective revenue generation. Between repairs and replacements, it can be difficult to predict total asset lifetime.
With a CMMS, maintenance professionals gain greater insight into and across all maintenance operations. Using a CMMS, maintenance professionals are able to build an asset hierarchy tree to represent the locations and assets within an organization, allowing them to easily view the location of each asset and add new equipment or locations when necessary. This helps the team monitor failure trends and detect root causes of equipment, as well as automate tasks such as the scheduling of preventive maintenance. As a result, maintenance can develop benchmarks, based on equipment history, to extend equipment life and measure uptime versus downtime.
4. Response Time
KPILibrary refers to facility maintenance response time as the time of response measured from opening a work request to work order start on the request. If there’s a lag, downtime can occur, which is a major pain point for maintenance teams. Not only does it cost an organization significant amounts of money, but it also halts operations altogether.
With a CMMS, maintenance is able to collect data on top maintenance KPIs like response time, technician efficiency and top used inventory. The CMMS can identify how quickly and efficiently technicians are responding to work order requests. This helps management weed out any underperforming departments or assets. Furthermore, a CMMS alerts technicians from anywhere in the field when a critical asset needs serviced. This allows maintenance to spend more time in the field and less time on paperwork.
Are your techs underperforming or putting in too much overtime? With a CMMS, management can pull performance reports to identify why or how often overtime hours occur. From there, management can pinpoint if overtime is caused by emergency work order requests, or identify opportunities to improve efficiencies elsewhere. To learn how a variety of maintenance departments conduct operations, and whether a CMMS has positively impacted customer satisfaction rates, cost savings, equipment downtime, asset life and inventory management, check out the 2017 State of CMMS Report.
A CMMS also stores maintenance records and machine nuances, so even new technicians can quickly learn how to service an asset without spending months on onboarding. Beyond that, technicians can access the right information, when and where they need it from a mobile device, instead of having to make a trip back to the office. This helps to eliminate the need for printouts, which reduces unnecessary waste and increases labor productivity. As a result, maintenance has a clearer picture on technician utilization to either downsize departments or add technicians as needed.
6. Preventive Maintenance vs. Reactive Maintenance
Several organizations only service assets when a work order need comes through. This approach, known as reactive maintenance, costs more in the long run. This is due to the fact that emergency orders interrupt the workflow of an organization.
With preventive maintenance schedules, maintenance can avoid interruptions altogether and experience less costly downtime. With fewer breakdowns, maintenance can ensure assets are in their highest output capacity. As a result, maintenance professionals can compare reactive vs. preventive maintenance ratios to gather insight on operations. This helps to identify if maintenance is staying abreast of team assignments and PM schedules.
Ready to learn how your maintenance team can measure top KPIs with a CMMS? Visit our resource center for even more on CMMS success. Or download our ebook, 100% More Efficient: A Manufacturer’s Guide to Preventive Maintenance.