The old saying goes, “You can’t manage what you can’t measure.” For asset intensive companies, this couldn’t be more true when it comes to maintaining their assets and equipment. EAM/CMMS systems are essential tools that help companies keep track of their assets and manage maintenance tasks efficiently.
However, without proper benchmarking, it’s hard to tell if your EAM/CMMS system is performing at its best. In this blog, we’ll discuss how benchmarking can help companies in any industry identify performance gaps in their EAM/CMMS systems and bridge those gaps to ensure optimal performance.
Identifying Performance Gaps in EAM/CMMS Systems
Benchmarking is the process of comparing your EAM/CMMS system’s performance against that of other similar organizations. By comparing key performance indicators (KPIs), asset-intensive companies can identify performance gaps in their EAM/CMMS systems. Here are five gaps that may be present in EAM/CMMS systems:
1. Master Data Gap: EAM/CMMS systems rely heavily on accurate and complete master data to perform their functions. Without clean and accurate master data, maintenance schedules, asset records, and inventory records can be incomplete, leading to inefficient maintenance practices. By benchmarking against other companies, companies can identify best practices for master data management, ensuring that their EAM/CMMS systems have complete and accurate data.
2. Standards Gap: EAM/CMMS systems must adhere to certain standards to ensure proper maintenance and safety procedures are followed. Companies must follow industry standards and regulations, and failure to do so can lead to safety incidents and regulatory violations. Benchmarking against industry standards and regulations can help companies identify gaps in their EAM/CMMS systems’ adherence to these standards. This can help companies implement changes to ensure compliance and improve safety. If you would like to read more about benchmarking for industry best standards, this blog may be helpful.
3. Work Order Management: Another gap may be in the management of work orders. This can include ineffective prioritization, scheduling, and tracking of work orders. Benchmarking can help companies compare their work order management practices to industry best practices and make necessary changes.
4. Training Gap: EAM/CMMS systems require trained personnel to operate and manage them effectively. A lack of proper training can lead to errors in data entry, inaccurate maintenance schedules, and inefficient work orders. By benchmarking against other companies, businesses can identify best practices for training and ensure their personnel are well-trained in using the EAM/CMMS system, leading to better performance.
5. Inventory Management: Poor inventory management can lead to overstocking or understocking of critical items needed for maintenance activities. Furthermore, improper spare parts management can increase downtime and cause maintenance activities to be delayed. Benchmarking can help companies identify gaps in their inventory management practices and optimize their inventory levels accordingly.
Bridging Performance Gaps with Benchmarking
Benchmarking is not just about identifying gaps; it’s also about bridging those gaps. Once gaps are identified, organizations can implement changes to improve their EAM/CMMS systems’ performance. For example, by benchmarking against best practices for master data management, companies can implement data cleaning and governance procedures to ensure that their master data is accurate and complete. Similarly, by benchmarking against industry standards, companies can implement changes to their EAM/CMMS systems to ensure compliance with regulations.
Benchmarking is a critical tool for any asset-intensive company looking to ensure optimal performance from their EAM/CMMS systems. By benchmarking against other companies and identifying performance gaps, they can implement changes to improve their EAM/CMMS systems’ performance. With accurate and complete master data, adherence to industry standards and regulations, and well-trained personnel, organizations can maximize the efficiency and effectiveness of their EAM/CMMS systems.
Contact HubHead for a Benchmarking Assessment
HubHead’s team of experienced consultants can provide a practical roadmap to evaluate and bridge gaps in your EAM/CMMS system. We focus on making recommendations that will address priority fixes and low-hanging fruit to create ROI-based plans. Contact us by downloading our brochure or booking a meeting by following the links below.
Unlocking Success: How Benchmarking for Industry Best Standards Drive EAM/CMMS Excellence
Industry Insights: Best Practices for EAM/CMMS Systems in Oil and Gas Companies
A Guide to Benchmarking EAM/CMMS Performance in the Food and Beverage Industry
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