Measuring asset performance: Turning Performance
In today's hypercompetitive, globalized economy, businesses are pressured to do more, do it faster, do it right the first time and do it all with fewer resources.
In today’s hypercompetitive, globalized economy, businesses are pressured to do more, do it faster, do it right the first time and do it all with fewer resources.
The Internet of Things and Industry 4.0 have given birth to asset-monitoring software that should enhance competitiveness in this environment, but it can also be like turning on a waterfall of data that raises the risk of “task overload.” Faced with task overload, most people focus on what they think is most important while a seemingly peripheral task is temporarily ignored.
Freedom eLOG asset-monitoring software from 5ME can be accessed anytime via a tablet, as well as a smartphone. Image courtesy 5ME.
Likewise, the volume of data available in a manufacturing plant from asset-monitoring software can overwhelm management’s ability to prioritize on areas for improvement and monetize the value of the changes. Freedom eLOG asset-monitoring software from 5ME addresses this issue using breakouts of machine status designated by AMT – The Association For Manufacturing Technology.
This micro- and macro-cataloging of information can serve multiple departments. Details as fine as the run time for specific cutting tools are accessible for shop floor managers to ferret out the causes of delays, while trend graphs keep senior executives informed about overall equipment efficiency and bottom-line numbers that show red or black ink on plant assets.
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