Moving from record keeping to end-to-end asset lifecycle management

Maintenance managers typically use CMMS tools to almost instantly call up asset information on-demand. But often it is incapable to offer visibility and aid important procurement / operational decisions:

• Does the asset last as long as it should?
• Can we choose the right brand / price accurately based on past call-outs?
• Are we wasting money on parts that are covered under warranty?
• Repair/replace decisions based on performance and buying records

While CMMS is a system of asset and maintenance records , very little can be achieved in piecing together the entire lifecycle operations and cost of an asset.  

Asset data is often scattered with asset performance information available in one system (BMS) and information like warranty,  installation date, etc. are stored in a separate tool. Such silos make it difficult to piece together end-to-end asset information. The rigidity of the legacy CMMS systems—lack of interoperability with other software,  flexibility in workflow changes, requiring specialized resources for integration and reporting —does not help much either.
Clearly, your CMMS systems need to go beyond record keeping.

So how should a modern CMMS solution suitable to today’s operations environment contribute to an asset’s full life cycle O&M?

1. View: Centralized visibility into asset lifecycle data

Let’s say that a tenant raises a service request to fix a malfunctioning cooling system. Before sending a technician to address an issue, the facility manager needs to quickly view an asset's history, current status, and future needs in one place to avoid escalations and act on the service request promptly.

Similarly, executives need full visibility into asset performance and lifecycle to make informed portfolio-level decisions. They should typically be able to view:

Asset Records:  Asset identification information, such as the asset name, serial number.  Service agreements, warranties, and contracts.

Maintenance: Maintenance history, including records of all maintenance activities performed on the asset, such as repairs, upgrades, and inspections.

Performance:  Error rates, fault reports, depreciation and asset value, including information on the asset's current value, depreciation schedule, and estimated useful life.

Inventory: Number of units in stock, storeroom location, purchase information, including the purchase date, vendor name, and purchase price.

Benchmarks / Real-time: Expected life vs actual, frequency of breakdowns, benchmarks for different manufacturers, and more.

While this looks simple enough, most legacy CMMS tools do not capture all the information mentioned above and use multiple tools to store data. A modern connected CMMS tool pools data from multiple systems and provides FMs with centralized visibility, saving time and manpower dependency.  

2. Manage: Granular insights to make informed asset decisions

26% of legacy CMMS users have recently revealed in a survey that they have insufficient data to make asset repair and replace decisions.

As stated above, legacy CMMS tools usually do not provide on-time information on maintenance history and breakdown frequency due to siloed tools. This means that maintenance teams are in the dark about equipment end-of-life cycles. This can be problematic because it prevents teams from taking corrective action before equipment fails.

A connected CMMS tool helps in this regard by tracking an asset’s performance right from its procurement stage and records all the maintenance costs it incurs. Maintenance managers are equipped with data-backed suggestions for setting up predictive maintenance and organizations can anticipate equipment failures before they occur.

The Connected CMMS tool projects the depreciation patterns and the estimated functional life of the asset. It takes into account the detailed fault and failure reports to accurately calculate the end-of-life.

A long-term maintenance strategy such as this, integrated with inventory expedites inventory purchase, provides low inventory alerts and accuracy in budget planning.

One can also get drilled down insights on the assets breakdown by category, manufacturer etc. FMs can use this information to accurately project inventory plans, negotiate equipment cost with vendors and overall plan accurate capital expenditure.

3. Optimize: Seamless operational workflows via Automation

We asked O&M professionals if their organization is adopting new processes and technology to improve operational efficiency and a whopping 85% said NO.

While most organizations aim to reduce costs associated with asset maintenance, there’s a huge latency in implementing the measures needed to get there.

For example, consider the following scenario with a legacy CMMS:

A tenant raises a service request to fix a non-functional air filter. The complaint is routed through a help-desk where a supervisor qualifies it and notifies a technician over an email or phone call. The technician inspects the site and determines that the bulb needs to be replaced. This is followed by an inventory check, during which the work order is put on-hold and work resumes after the equipment is obtained.

All through this process, the tenant is kept uninformed of the progress, work schedules are missed/delayed, manual inventory checks take many hours and the service levels take a hit.

A modern connected CMMS system with automation and powerful integration with inventory will instantly show accurate stock levels, update the status of the work order at every stage, provide the necessary approvals, and keep tenants communications up to date.

To fully close the operational loop after the technician replaces the asset, the ticket is closed, the tenant is updated and a feedback form is dispatched.

This entire workflow when automated leaves no room for human errors and quickens the resolution process. By also integrating with the BMS, alarms are quickly converted into work orders and asset issues are rectified quickly.

Using Facilio’s connected CMMS approach, a large FM services provider in the Middle East saw 20- 30% reduced costs with maintenance processes.

In conclusion, by using a centralized system, organizations can monitor asset usage patterns, identify maintenance needs, and even predict when repairs or replacements may be necessary. Businesses can manage their inventories across various locations via a cloud-based interface thanks to this data-driven strategy, providing them more control over their assets and lowering operational costs.

Modern CMMS solutions that manage full lifecycle analysis and real-time reporting, are providing organizations with the insights they need to optimize operational expenses and budget for the future.