Metrics

Metrics enables you to effectively optimize costs, reduce unplanned failures, increase uptime, and lower production losses. You can make the following decisions using this functionality:

• Get an in-depth view of asset performance from different dimensions and understand the areas of good performance against the areas that need improvement. For example, if for a site, the maintenance cost is low, and the mean time between failure is also low, it indicates cheap but frequent failures.
• Focus on a metric where there is a huge difference between the site and the benchmark and ultimately a high annual potential saving.
• Compare performance of assets between the different sites of the organization and incorporate the improvements in performance accordingly. For example, a site that has a low MTBF (and higher frequency of failures) can incorporate the asset strategies from a site with the best MTBF and reduce its failure frequency.
• Benchmark against external peers to understand the opportunity to invest improvement efforts and get the largest value for money. For example, in an internal view, if one site has the best MTBF, but it is below the benchmark’s performance, you can focus on the strategies that lower unexpected failures.