The NRX Blog

13 Apr 2018

How Digital Immaturity Surges Gas Prices

In the last blog, we talked about the rising cost of compliance issues. But how is an everyday consumer affected by the expensive compliance issues? According to CTV, summer 2018 fuel prices may reach a 10-year high. While the article outlines a key reason behind the price surge is basic supply and demand, there is more than what meets...

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10 Apr 2018

The Rising Cost of Compliance Issues

April 10, 2018Blog

Today, asset-intensive companies are struggling with compliance issues that result in high costs. From verifying that maintenance plans and inspection tasks that are programmed into an EAM conform with corporate performance standards to ensuring that you can satisfy corporate audit requirements with an appropriate paper trail, compliance issues take time and effort. Most asset-intensive companies that work with EAM...

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05 Apr 2018

Maximizing Maintenance Management Effectivity

Today most asset-intensive companies organize maintenance documents through cabinets full of binders, overflowing data in USB or hard-drives. Some might even have a Document Management System (DMS) that requires thorough searching each time you need a document. While companies still might be using these methods, there are more effective and quicker methods when it comes to maintenance management. Let’s...

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28 Mar 2018

Getting Practical on Managing Spare Parts

With better methods for managing spare parts, you can achieve savings of at least 10% in ongoing maintenance and operations. Effective spare parts management can help reduce costs while keeping operations running smoothly. But the first step in solving any problem is identifying there is one, and in order to adopt an effective method for managing spare parts, you...

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20 Mar 2018

Poor Quality Data Costing Trillions

$3.1 trillion. That is how much IBM estimates the yearly cost of poor quality data. This is despite companies spending billions already to maintain their data. According to the Harvard Business Review, what makes up that mammoth figure is the “Hidden Data Factory” in which data users waste time dealing with error-prone data, correcting flawed data, etc. If this...

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16 Mar 2018

Fix That Bad Data!

March 16, 2018Blog

For many asset-intensive companies, complete and accurate data is a recipe for success. However, while your asset and maintenance data may be complete and accurate, it will start to rust as assets are upgraded or decommissioned. If the master data is not constantly updated in the EAM/CMMS system, everything will get outdated. From people costs to operational costs, bad data...

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15 Mar 2018

Don’t let your maintenance documents work you!

Asset-intensive companies often have a hard time finding maintenance documents in their enterprise document management systems. Integration between maintenance processes that are based on EAM/CMMS workflows and document management systems can be difficult. Many asset-intensive companies would like to integrate their EAM/CMMS system with an enterprise document management solution but don’t know how to. Here are some common issues...

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09 Mar 2018

Mastering Asset Master Data

Although it sounds easy, tracking equipment maintenance is not easy. Maintenance becomes very daunting when you have poor quality EAM/CMMS asset master data. Poor data makes it very hard for maintenance personnel to do their job as well.  Every year, companies spend millions of dollars to maintain their equipment and keep them running smoothly by investing in their asset...

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07 Mar 2018

Excel? Great For Crunching Numbers!

MS Excel is a great tool for crunching numbers. But you shouldn’t be using it for asset management. Most of the time, standard spreadsheet formats are used as a way to load key data into operational EAM systems. Although standard spreadsheet formats are great at indicating what needs to be collected, they aren’t much help with data quality and integrity. They...

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02 Mar 2018

Poor Data: Stop The Virus

Many asset-intensive organizations depend on the data in their EAM or CMMS systems to drive the maintenance practices that keep their business running efficiently. When you have poor data quality that is incomplete and inaccurate it affects your company as a whole. The Consequences of Poor Data Effective and efficient are two terms taken very seriously in an asset-intensive...

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