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Philosophy » Asset Utilization

Asset Utilization

Description

Asset Utilization is a measure of actual use of fixed assets divided by the available use of fixed assets. Fixed Assets enable direct product development, transformation, and delivery of a company’s products or services, as well as indirect support, and, typically, have greater than one year of service life. The supporting processes and best practices ensure availability of the fixed assets, optimized usage of the fixed assets, minimized costs, and maximized service life. It is implicit and assumed that the output of the fixed asset is required (there is demand), timely (meets requirements), and of acceptable quality.

Common Metrics (Top 4)

  1. Production Yield
  2. Overall Equipment Effectiveness
  3. Unplanned Downtime
  4. Planned Downtime

More Asset Utilization common metrics.

Best Practice (Top 5)

  1. Rapid Changeovers
  2. MRO Management
  3. Preventative Maintenance
  4. Mean Time Between Failures Tracking
  5. Integrated Maintenance Schedule

More Asset Utilization best practices.

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