The NRX Blog
Millions of Assets, One Location
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...
The Rising Cost of Compliance Issues
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...
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...
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...
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...
Fix That Bad Data!
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...
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...
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...
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...