The Benefits of Implementing Equipment Management Software in Your Business

Posted by NYGGS on August 16th, 2023

Summary

1. The industry that wants to increase asset life, grow productivity and manufacture high-quality items needs to improve equipment management.
2. Equipment management involves various activities such as data analysis, inventory control, risk and security management, machine performance monitoring, maintenance planning, and staff training.
3. Efficient equipment management software is essential to avoid mistakes and ensure good performance of machines and industry performance.
4. An efficient equipment management system can reduce management costs, improve production capacity, generate income, and make resources available to customers.
5. The equipment management system is ideal for medium and large companies with important equipment, including calibration entities, suppliers, and equipment manufacturers.

What Topics We Will Cover!

1. What Is Equipment Management Software?
2. Features of Equipment Management Software
3. Benefits of Equipment Maintenance Tracking Software
1. Increase equipment lifespan
2. Increase team productivity
3. Improve product quality
4. Minimise risks and accidents
5. Reduce maintenance costs
4. Types of Equipment Maintenance Tracking Software (Sector-based)
5. How to Select the Best Equipment Management Software
1. Innovative software
2. A system that meets the main needs
3. Tool aligned with future trends in the industry
4. Solution at a fair price
6. Conclusion
7. Frequently Asked Questions

Introduction

The success of the industry depends on the proper functioning of machinery and equipment. This is because defective assets harm the production line, delay processes and can affect product quality.

One way to keep assets in perfect condition is through equipment management, a practice that involves a series of activities, such as:

• Data analysis and KPIs (performance indicators);
• Inventory control;
• Risk and security management;
• Machine performance monitoring;
• Maintenance planning and control;
• Staff training and qualification.

Because it involves many activities, some managers may end up making mistakes during management. Consequently, this affects the good performance of the machines and harms the industry. This is where Equipment Management Software plays an essential role.

In this article, see the benefits of an efficient Equipment Management System and some considerations that need to be followed strictly while choosing the system.

What Is Equipment Management Software?

The Equipment Management Application aims to respond to the activities inherent in equipment registration, planning and recording of all preventive maintenance, calibrations, verifications and recording of repairs carried out to equipment.

It is becoming more and more of a priority, as it allows for reducing management costs, improving the use of installed production capacity, and, at the same time, generating income with the ability to make resources available to customers.

Equipment Management Software is the ideal solution for medium and large companies that have important equipment, such as trucks, fleets, mobile or specific industrial equipment, as well as relevant machines and materials that can be distributed to different points of interest, Buildings, Factories, Countries, Departments and Financial Centres.

Features of Equipment Management Software

Here are the features that allow planning to increase equipment performance and the life span of every piece of equipment.

• Equipment Registration: Register all equipment in your inventory, including their serial numbers, purchase dates, and locations.
• Preventive Maintenance Planning and Recording: Create and track preventive maintenance schedules for your equipment. This will help you to identify and fix potential problems before they cause downtime.
• Curative Maintenance (Repairs) Record: Keep track of all repairs that are made to your equipment. This will help you to identify trends and make necessary improvements to your maintenance program.
• Equipment Users Management: Track who is using your equipment and when. This will help you to ensure that equipment is being used safely and efficiently.
• Labels Issuance: Issue labels to equipment to identify their location, status, and other important information.
• Task Checklists Associated with Preventive Maintenance of Equipment: Create and use task checklists to ensure that preventive maintenance tasks are performed correctly and on time.
• Calibration Entities, Suppliers, Repairers and Equipment Manufacturers Management: Keep track of the calibration entities, suppliers, repairers, and equipment manufacturers that you work with. This will help you to quickly and easily get the services you need when you need them.
• Cost and Life Span Analysis: Analyse the cost and life span of your equipment. This will help you make informed decisions about replacing or repairing equipment.
• Exports to Excel - Calibrations, Scheduled/Performed Checks and Scheduled/Performed Maintenance: Export your data to Excel for further analysis or reporting.
• Real-time Alerts for Maintenance: Receive alerts when maintenance, calibrations, or verifications are due. This will help you avoid missed deadlines and ensure your equipment is always in good working order.

Benefits of Equipment Maintenance Tracking Software

The high point of managing equipment is the guarantee that the factory floor will not suffer unplanned stops. In that way, the manufacture of items will follow its continuous flow. 

However, this is not the only thing that makes Equipment Management Software so necessary in the industry. After all, other important benefits can also be obtained, such as:

Increase Equipment Lifespan

By managing equipment, the company is able to improve asset performance, reducing the incidence of failures and defects. Good functioning, in turn, delays depreciation, prolonging the useful life of the machines. 

Increase Team Productivity

With machines and equipment working at full speed, the team is able to produce better and continuously. The industry, then, starts to achieve more expressive results in terms of deliveries and customer satisfaction.  

Improve Product Quality

Without the incidence of errors and failures, the industry can reduce the number of defective products and increase the delivery of high-quality items. In addition, losses can also be minimized, which generates high profitability and customer/client retention. 

Minimise Risks and Accidents

No industry is exempt from accidents, but it is possible to minimize risks with equipment management. This is because, by ensuring that all machines are in good condition, the company reduces the occurrence of failures and increases worker safety.

Reduce Maintenance Costs

In addition to increasing the useful life of equipment, increasing team productivity, improving product quality and minimizing risks and accidents, proper equipment management also contributes to reducing maintenance costs. After all, the industry starts to schedule revisions, avoiding emergency stoppages and corrective actions.

Off course, the list does not end here. There are many more benefits of implementing the best Equipment Management Software. Do you know other pros? List out in the comment box.

Types of Equipment Maintenance Tracking Software (Sector-based)

Equipment management software is used to track, manage, and maintain equipment in a variety of sectors. It can help improve efficiency, reduce costs, and ensure regulation compliance.

• Construction Equipment Management System: Tracks and manages construction equipment such as excavators, bulldozers, and cranes.
• Heavy Equipment Management Application: Tracks and manages heavy equipment such as trucks, trailers, and backhoes.
• Biomedical Equipment Management Tool: Tracks and manages biomedical equipment such as MRI machines, X-ray machines, and ventilators.
• Hospital Equipment Management System: Tracks and manages hospital equipment such as beds, patient monitors, and operating tables.
• School Equipment Management Software: Tracks and manages school district equipment such as computers, laboratory equipment, and sports equipment.
• Catering Equipment Maintenance Tracking Software: Tracks and manages catering equipment such as ovens, refrigerators, and dishwashers.
• Agriculture Equipment Management Software: Tracks and manages agriculture equipment such as tractors, harvesters, and combines.
• Office Equipment Management System: Tracks and manages office equipment such as printers, copiers, and fax machines.

How to Select the Best Equipment Management Software?

Many people think that maintenance software is all the same. The functionalities are practically the same, but this is far from true. While some use outdated methods to manage assets, others offer simple services for a steep price.

A wrong choice can disturb the quality of operations and significantly impact the finances. So, choosing an adequate maintenance system helps managers to optimize operations, save resources and, above all, stay ahead of the competition.

When a manager chooses the right tool, he can not only transform the business but also improve the entire mindset of the team. It is as if rescuing the company from an outdated past, to insert them into a modern everyday life full of opportunities.

Considerations when Choosing the Equipment Management Software

Now that you know the importance of choosing maintenance software, see some precautions that you need to take to recognize the ideal system.

Innovative Software

If the company's objective is to improve the quality of its operations, it needs to resort to a maintenance system that is practical and simple. And not one that makes the work of professionals difficult. The best alternative is to choose a web tool that has innovative functionalities as a differential.

Software as a Service (SaaS) like NYGGS ERP offers a better cost-benefit since the company does not have to bear license costs. In addition, it reduces the need for internal infrastructure, preventing unnecessary expenses when your facility scale.

Backups are made automatically. And data security is a greater benefit because they are in the cloud and documents are accessible anytime, from anywhere. In other words, the companies can monitor the performance of factories remotely and without any kind of complication.

The system that meets the main needs

For the work of managers and technicians to be carried out in the best possible way, the system must have a tool capable of helping them solve all the challenges in the area of management so that they can better direct the strategies and also have their work boosted.

A robust equipment management software aligned with the main day-to-day maintenance needs allows managers to analyze market metrics to determine how the company behaves. And also to have greater control over activities and the possibility of carrying out more simplified operations.

Through a comprehensive tool, management professionals are able to carry out asset control more efficiently. They ensure better conclusive reports — as they track machine performance — and make more assertive decisions based on facts, not just assumptions.

Tool Aligned with Future Trends in the Industry

A good management tool is one that is aligned with the future. There is no point in software promising major transformations if it is not able to keep up with trends and innovation. The company that wants to become competitive needs a modern system like NYGGS Equipment Management Software which is customizable to meet all company's needs.

The tool needs to be supported by technology to ensure that management takes place with maximum reliability. Whether to help managers plan, build an effective maintenance plan, better manage inputs, tools and labour, or even monitor indicators.

Solution at a Fair Price

Maintenance software can ensure control of your equipment. It can optimize internal processes, improve the work of professionals and, above all, offer a good price. The ideal system should fit within your budget and, even at a reduced price, offers the best performance.

Today, companies can already opt for innovation and no longer need to invest a high price for quality. They can choose the tool that uses technology in their favour, and that is concerned with bringing efficiency to industries intelligently and economically.

Conclusion

The success of the industry depends on the proper functioning of machinery and equipment. This is because defective assets harm the production line, delay processes, and can affect product quality. One way to keep assets in perfect condition is through equipment management. Therefore, Equipment Management Software is the ideal solution for companies to monitor and track machines' work potential. Maintenance software can ensure control of your equipment. It can optimize internal processes, and improve the work of professionals. The ideal system should fit within your budget and, even at a reduced price, offers the best performance.

FAQs

Q1: Why is Equipment Management Software important?

A1: Equipment Management Software is important because it helps ensure the proper functioning of machinery and equipment, which is crucial for the success of any industry. It minimizes downtime, reduces maintenance costs, improves productivity, and enhances product quality.

Q2: Can Equipment Maintenance Tracking Software be used in any industry?

A2: Yes, Equipment Management Software can be utilized in various industries, including manufacturing, construction, healthcare, transportation, energy, and more.

Q3: What are the benefits of using Equipment Management Software?

A3: Some benefits of using Equipment Maintenance Tracking Software include:

• Improved Asset Performance: The software allows for real-time monitoring of machine performance, enabling proactive maintenance and minimizing breakdowns.
• Reduced Downtime: By automating maintenance planning and control, the software helps minimize unplanned downtime, leading to increased productivity.
• Enhanced Inventory Control: The software provides accurate and up-to-date inventory information, optimizing the replenishment process and minimizing stock outs.
• Enhanced Risk and Security Management: Equipment Management Software helps identify and mitigate potential risks, ensuring compliance with safety regulations and protecting assets from theft or damage.
• Streamlined Data Analysis: The software generates performance indicators and reports, providing actionable insights for better decision-making.
• Efficient Staff Training and Qualification: The software facilitates the scheduling and tracking of staff training programs, ensuring knowledge and competence in equipment operation and maintenance.