The Implications of Poor-Quality Asset Data

Downtime refers to the duration of time when your machinery is not in production. While downtime can be planned for equipment set up or scheduled repairs, unplanned downtime refers to downtime that occurs unexpectedly because of an unforeseen shutdown or equipment failure. For most manufacturers, unplanned downtime is the largest source of lost production time.

How Can Downtime Impact Your Company?

Downtime can have an array of effects on businesses. One of the significant impacts of unexpected downtime is lost revenue. Whenever a company’s production is disrupted, every minute that goes by is potentially a minute of lost revenue.

What Causes Unexpected Downtime? 

There are many reasons why unexpected downtime may occur. Unexpected downtime can result from a material issue, such as requiring a spare part for your equipment that cannot be located, or a virtual issue, such as a virus in your software. Other causes of downtime include equipment failures, power outages, and human error. Bad asset and maintenance master data can also impact unexpected downtime. For example, an inappropriate preventive maintenance plan can result in unnecessary equipment failures. Another example is delay resulting from missing or incorrect spare part information.

How Does Bad Master Data Impact Maintenance Processes? 

Efforts to reduce unexpected downtimes, such as improving scheduling or cost analysis or implementing predictive maintenance (PM), reliability-centered maintenance (RCM), and failure modes and effects analysis (FMEA), cannot be practical if your EAM system does not contain master data that is high-quality and accurate. For your master data to be high-quality, this also includes all your assets being organized into an appropriate and optimal hierarchy for asset performance management (APM).

Improving maintenance and APM are desirable goals for most organizations, but you require high-quality master data as your foundation to succeed. If you are planning an EAM migration or upgrade, this is the ideal time to ensure that the master data imported into your new EAM system is clean and accurate.

Consider Improving Master Data to Reduce Unexpected Downtime

NRX AssetHub helps identify data quality issues using strong reporting capabilities to highlight gaps and measure the completeness of the asset and maintenance master data residing in your EAM system before you migrate the data to your new system.

How We Can Help

If you would like to learn more about how NRX AssetHub can help your company cleanse and eliminate EAM data challenges to reduce unexpected downtime, book a demo, and our team would be happy to help you!