Ivara Sponsors Aberdeen Report Linking Best in Class Manufacturers With Adoption of Asset Performance Management Capabilities
Reports ties advanced asset performance management with significant year over year reductions in maintenance cost
BURLINGTON, ON (February 29, 2008) – Ivara Corporation, the industry leader and innovator in asset performance management solutions, today announced that it has sponsored a benchmarking report from the Aberdeen Group, a Harte-Hanks Company (NYSE:HSS) entitled “Ground Up Strategies for Asset Performance Management”. Through the analysis of over 250 manufacturers, the report reveals that best-in-class organizations are ten times as likely as laggards to standardize asset performance management to optimize asset availability and utilization.
Bharat Nair, SVP and Research Director with Aberdeen’s Global Manufacturing Practice, states “Best-in-class enjoy 31% gains in OEE compared with laggards as a direct result of their investment in asset performance management (APM) capabilities, and are three times more likely than laggards to enjoy maintenance cost reduction in the >15% range measured year over year. Best-in-class companies are also putting in place process and organizational capabilities to augment their investment in technology and interoperability to realize these gains.”
The research reveals that in addition to implementing core technologies, Leaders are investing in real-time interoperability across their APM applications to achieve a closed-loop sense and response capability. Leaders have best leveraged their APM investment by integrating to their CMMS application to support proactive asset care.
The report offers the following recommendations:
- Invest in advanced Asset Performance Management capabilities such as Condition Monitoring, Reliability Centered Maintenance, Asset Performance Monitoring, Analytics and Optimization.
- Establish cross functional continuous improvement teams to focus on and foster a Culture of Reliability across the enterprise
- Standardize APM initiatives and best practices across the enterprise with local execution
More than 250 manufacturers participated in the study, including BP Solar, Boeing, Chevron, Chrysler, Colgate Palmolive, Nestle, Siemens, Micron Technology, Pacific Biosciences, Hindustan UniLever, DHL, Alcoa, Tyson Foods, P&G, Hamilton Sundstrand, Philips, HASBRO, and Infineon among others.
“We are very pleased to support this research study by Aberdeen which identifies the strong correlation between asset performance management capabilities with best-in-class performance,” says Gerry Bleau, CEO, Ivara Corporation. “The reports recommendations are consistent with our approach to driving operational excellence – an enterprise-wide, proactive asset reliability process, supported by APM software, drives bottom line results.”
Ivara is offering a complimentary copy of this research report. ( Request a free copy here.)
About Ivara:
Ivara is the leader in asset performance management software, Ivara EXP Enterprise, and services including Ivara RCM2™, the leading reliability strategy development methodology. RCM2 is delivered exclusively by The Aladon Network, Ivara’s global network of reliability experts. Ivara EXP prevents industrial equipment failure, increases production and lowers costs for better business performance. EXP transforms data into real-time intelligence and helps plant and operations management make fast and accurate business decisions. Customers worldwide, representing a cross section of asset intensive industries, realize the benefits of EXP every day. For more information, visit www.ivara.com.
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to AberdeenTM for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen’s analytical and independent view of the “customer optimization” process of Harte-Hanks (Information – Opportunity – Insight – Engagement – Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to http://www.harte-hanks.com.
Ivara contact:
Sandra DiMatteo
Director of Marketing
Ivara Corporation
Tel: (905) 632-8000 ext. 271
Send email to Sandra DiMatteo
Aberdeen Group contact:
Bharat Nair
Aberdeen Harte-Hanks
Tel:(617)-854-5322