Soar With New Competitive Asset Management Capabilities! If You Want to Accelerate, Take Your Foot off the Brakes.

The competitive landscape is changing fast.  It is an exciting and dangerous time.  New competitive requirements for speed and efficiency – doubling speed and reducing costs in half – cannot be achieved with historical approaches focused only on myopic views of asset performance, e.g. asset downtime, MTBF, OEE. While still important, rather than ends in themselves they are rather interim objectives in a strategy focused on improving the money-making capacity of assets.  In this context asset use matters more than ever before to the asset management team. Asset users and their intentions matter.  People’s ineffective but habitual practices matter…big time.

Knowing What Matters is the First Step in Producing Step-Change Improvements

Knowing what mattered was critical to producing best-in-class performance at 20% the cost of competition like the Oakland A’s did and which we write about in “Is Your Team Ready for Its Moneyball Moment?”  What matters most to asset managers today needs to be to offer significant help to asset users and their organizations that enable them to fulfill the new competitive requirements for speed and efficiency.  Doing this will make your asset teams trusted advisors.  It will transform asset teams into strategic capabilities that are required for transforming asset-intensive engineering and manufacturing operations for step-change improvements to speed and efficiency.

Going Faster Requires you Take Your Foot Off the Brakes!

When asset managers open the aperture to include “asset use” they are confronted by a major challenge that has vexed companies for years. Hoarding is the “One Bad Habit” that costs companies millions by erecting barriers to sharing, collaboration, speed, and efficiency. It is a defect in the organizational operating system of long-established enterprises. The defect triggers costs and delays in enterprise processes as users hoard assets, knowledge, schedules, budgets, and support functions.  It is a defect asset management teams can help with.

Eliminating “Braking” Defects from Your Customer’s Operating System

The asset management function needs to reimagine itself if it is to make itself a strategic enabler of speed and competitiveness.  This mission will require augmenting existing capabilities and adding a few.  Supporting practices, strategies and narratives will need to be made more potent to make these new outcomes possible.  Some of the outcomes, outlined below, have been thought for years to be mutually exclusive.  They have been. They aren’t when you take the brakes off by eliminating hoarding.

Solve Mission-Critical Problems

Asset management teams must offer to enable step-change improvements to the resilience, speed, and efficiency of critical enterprise processes by helping asset users in engineering and manufacturing respond quickly to changing requirements and schedules. To accelerate outcomes.  To transform operations.  Asset Management must offer significant help with the following outcomes…

• Improved

  • Asset Capabilities

  • Availability

  • Data Accuracy

  • Compliance / Quality

  • Visibility

  • Safety

  • Speed & Responsiveness

                     while…

• Decreasing Costs

  • Increase asset utilization up to 400%

  • Reduce capital and operating expenses up to 50%

  • Significantly Reducing Non-value-added distractions

Teams that deliver results like these are strategic enablers of speed, efficiency, and resilience in your enterprise.  They are trusted advisors for their customers.  Producing these outcomes will require new capabilities to end hoarding and establish more effective habits and practices.

Establish Fresh New Practices and Strategies that Produce Superior Outcomes

Sente is ready to help your team with practices and strategies that are:

• Aimed at producing the outcomes they promise their customer (above)

• Capable of measuring current state performance with metrics focused on:

  • Status of customer promises: operational, technical, and financial

  • Status of leading indicator metrics: operational and technical

  • Status of adoption, e.g. elimination of hoarding, process compliance

• Low cost with easy-to-use and integrated software workflows and templates

• Capable of keeping the objectives and actions of the asset management team aligned with those of the broader organization

Communicated Compelling Narratives that Mobilize Commitment, Adoption, and Accelerate Outcomes

Communications is almost always high on the list of projects that fail to deliver.  It is definitely an important element of our Culture Change Algorithm.

• Every person must understand their role, what specifically is expected of them and the benefits and returns for them they should expect as a result

• Every person must understand the competitive situation their business is in and how the work they do affects it

• Every person must know who their customers are and how to satisfy them

• There must be a communications process for continually keeping narratives aligned with the intentions and narratives of the larger organization mission

• The process for communicating these narratives and explanations must be low-cost.

What’s ahead

Over the coming weeks, we will post about very specific capabilities we use to help asset management teams produce competitive advantages for their customers. The categories of essential capabilities will include:

• Software and practices

• Tools and templates

• Strategies

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