This automated tool combines a quick assessment of maintenance efficiency and reliability effectiveness, with operational and financial performance measures to produce an estimate of potential improvement values. It produces an estimate of maintenance cost savings as well as production increases along with various financial indicators of profitability and efficient use of working capital.
The tool begins with an evaluation of efficiency and effectiveness in maintenance and reliability – the same maturity assessment carried out using our free online Reliability and Maintenance Maturity Assessment tool. By adding operational a minimal set of operational and financial data we carry out calculations to produce forecasts of maintenance cost savings, production increases, margin and profitability improvements, and efficiency of your use of working capital.
If you can’t sell additional product when you achieve performance increases, then there is no need for a production gain, but that additional capacity can be turned into more “downtime” and lower costs (e.g.: elimination of one or more shifts, or use of less capital). The estimator is best used for production environments where additional production translates into additional revenues. It can be adapted to other uses. Consult with us if you would like to estimate benefits where additional revenues are not the goal, and only cost reductions are needed.
It produces estimates that may be surprising, but they are indeed achievable. Getting there will require work. For now, using this tool, you can gauge the size of the prize and determine whether or not you feel it will be worth the effort to achieve the improvements.
Once you have completed the inputs, seen the benefits you can achieve, you may want to consult with us about the findings and/or your next steps in reaching for that prize. You can purchase that consultation by clicking on this line.