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New Industry Tool Offers Asset Reliability Roadmap for the Consumer Products Industry
New Industry Tool Offers Asset Reliability Roadmap for the Consumer Products Industry
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FOR IMMEDIATE RELEASE
To help manufacturers optimize investments in production equipment, PMMI’s OpX Leadership Network released the Asset Reliability Roadmap for the Consumer Products Industry tool. A solid and reliable maintenance program is often difficult to directly justify and is too often reduced or eliminated when budgets are squeezed.
This new tool will help Consumer Packaged Goods (CPG) companies and Original Equipment Manufacturers (OEMs) understand common definitions, key performance indicators (KPIs), calculations and leadership guidance when developing an asset reliability initiative. Both CPGs and OEMs will gain an understanding of the necessity of providing their company’s leadership with a solid business case for calculating maintenance program costs.
"When developing this tool, our team of CPG and OEM maintenance experts shared their individual and varied experiences, insights and leadership guidance to identify and define a number of Key Performance Indicators that valuate asset reliability," says Bryan Griffen, director, Industry Services, PMMI. “As a result of this collaboration, the OpX Leadership Network is excited to provide the industry with a unique, effective tool that will help businesses quantify the total value of asset reliability to the organization.”
Like all other OpX Leadership Network solutions, this Asset Reliability document and opportunity calculator provide an excellent opportunity for CPGs and OEMs to work together to both of their advantages. In this case, the cooperative effort can yield significant improvements in Overall Equipment Effectiveness by focusing on those opportunities to reduce the impact of planned and unplanned downtime.
The OpX Leadership Network was founded in 2011 by PMMI, The Association for Packaging and Processing Technologies, to ensure CPG companies and OEMs are well-connected and well-prepared to solve common operational challenges, make smarter decisions and achieve operational excellence.
The Asset Reliability tool, as well as solutions on Total Cost of Ownership, Request for Proposals, virtual Factory Acceptance Tests and more, are available for free download at www.opxleadershipnetwork.org.