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Functionality

SmartAsset represents a new generation, comprehensive enterprise asset management application that enables asset owners to better manage and maintain their plant, facilities and equipment.


SmartAsset focuses on managing the following business functions:

Assets Icon

Assets

 

SmartAsset enables user-definition of asset and equipment such that a hierarchy can be established and used for subsequent navigation purposes when locating particular assets or groups thereof. Once an asset/group has been located, it is then available for maintenance planning, historical enquiry, budget preparation, job initiation etc.

 

Several forms of navigation are provided including a ‘file manager’ navigator, similar to the standard Windows® explorers that offers a hierarchical view based on asset function and/or type. In addition, access to external software such as Bing (Microsoft’s answer to Google Maps), GIS, Asset Modelling, AM/FM products is available with seamless return of selected asset items to SmartAsset.

 

The asset & equipment register of SmartAsset provides for definition of the following related data:

 

  • Descriptive information including free-form text and drawing references
  • Criticality rating and warranty information
  • Classification codes including user-defined asset groupings
  • Geographical location codes
  • Accounting codes for cost-related transactions
  • Individual tracking information such as serial number
  • Asset item status
  • Reference to a ‘generic’ item that has been pre-built as a model for this asset item and other identical ones
  • Risk rating based on failure likelihood and consequence
  • Application (spare) parts list (APL) at item and component level
  • Asset availability for maintenance activity including upload from production schedules
  • Relationship between items in terms of hierarchical ‘parent’ and ‘children’, and peer dependencies
  • Electronic library that references data in other products and the viewers to be launched in order to access it
  • User-defined asset reference data based on asset groupings
  • Identification of meter and condition based readings that may be recorded for a asset item and optionally used to automatically schedule maintenance activities
  • Reference to a standard activity library and the specific activities that may be performed for a asset item
  • Complete audit trail of alterations applied to asset & equipment data

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Standard Activities

 

Standard Activities constitute a library of maintenance tasks that provide ‘templates’ for subsequent job creation. The initiation of such jobs may be performed manually for unplanned activities or they may be automatically generated by assigned triggering mechanisms.

 

Where a customer has multiple installations of identical asset items, a single standard activity may be assigned to the model (generic item) for this type of item and linked to each unit of this type. SmartAsset tracks the maintenance schedule for each item individually.

 

The standard activity library provides for the following data task definition including:

 

  • Job title
  • Cost estimates for resource/labor, materials and other user-defined cost categories
  • Workshop code to identify default pool of resources responsible for this task
  • Activity analysis codes for selection and subsequent job history analysis
  • Nomination of internal and external resource requirements for this task including labor, asset and tools
  • Identification of spare parts required to be purchased or issued from inventory in order to carry out this task
  • Checklist items that may require a response during completion of this activity, such as inspection readings
  • Rich-text based instructions that should be followed in order to complete this task, including safety issues etc. Alternatively, reference may be made to documents that are held externally from SmartAsset and are to be included as ‘attachments’ for any jobs that are raised from this standard activity
  • Electronic library objects that relate specifically to this task
  • the relationship entry that is created to link a standard activity with one or more asset items, may be assigned one or more ‘trigger’ codes that govern the manner in which this activity is to be scheduled for this item

 

Trigger codes may take the following form:

 

  • Periodic triggers based on calendar intervals such as ‘Days,Weeks, Months & Years’
  • Interval triggers based on input/upload of user-defined meter-based readings such as Mileage, Tonnage, Production Units, Gallons, Liters, etc
  • Range triggers based on input/upload of condition-based readings such as temperature, vibration and other analytical readings associated with a asset item.
  • Event triggers based on a calendar of events such as ‘Major’ Shutdowns, ‘Cyclone Warnings’, etc
  • standard activities may also be ‘linked’ together to form repetitive, hierarchical maintenance schedules.

Job Management Icon

Job Management

 

The basic SmartAsset entity used to plan, record, monitor and cost all maintenance activity is the job. Jobs are raised with reference to other SmartAsset entities such as the asset/equipment item, a job request and/or a standard activity. Job requests are typically raised as a result of equipment failure and ‘addressed’ via workflow control to the workgroup responsible for responding to the ‘failure’ notice.

 

When a job is raised manually, the initiator is given the opportunity to review all current jobs for the nominated asset item in order to avoid job duplication. In addition, a list of standard activities defined for this asset item are displayed for subsequent selection as the template to be used for this job. Data associated with this standard activity will be used as the basis for the job being raised. Browses and inquiries are provided within the job build function to allow additional data to be added to the job.

 

Status codes associated with the new job will indicate the workflow process for this task including ticket printing status, approval requirements and completion notification. Once completed, the job will be added to the work history for this item and will be available for subsequent analysis.

 

The job module of SmartAsset provides for the following data:

 

  • Job title
  • Cost estimates for resource/labor, materials and other user-defined cost categories
  • Workshop code to identify default pool of resources responsible for this job
  • Activity analysis codes for selection and subsequent job history analysis
  • Job Priority
  • Cost/account code for transactions related to this job
  • Nomination of internal and external resource requirements for this task including labor, asset and tools
  • Identification of spare parts required to be purchased or issued from inventory in order to carry out this task
  • Checklist items that may require a response during completion of this activity, such as inspection readings
  • Text-based instructions that should be followed in order to complete this job, including safety issues etc. Alternatively, reference may be made to documents that are held externally from SmartAsset and are to be included as ‘attachments’ to the job.
  • Electronic library objects that relate specifically to this task
  • Completion data including failure codes, rich-text based remarks (including pictures and scanned images), checklist responses and actual transaction costs for inclusion in job history data for subsequent analysis

Maintenance Planning Icon

Maintenance Planning

 

Projections are based on pre-defined triggering mechanisms. Periodic-based triggers are calculated using the periodic interval (eg. 30 days), while meter and condition based triggers are based on trending historical data (eg. hourly usage of asset, incremental increase/decrease in running temperatures, etc..). Access to projection data is particularly useful during opportunity maintenance planning where access to one or more items of asset through breakdown must be optimized.

 

For those cutomers that require basic planning functionality, the Worklist approach offers a list of work for each weekly planning period that can be filtered by asset hierarchy grouping and resource pool (workshop), such that selecting and executing work is a simple matter of a mouse click.
Those customers that need to filter work in more ways in order to prioritise work according to resouce contraints can make use of a more sophisticated planning tool to do this.

 

Finally, those wishing to make use of the Office products such as Outlook or Projects can do so seamlessly by using the SmartAsset Office Deployment capability whereby jobs from either of the above planning options may be dragged/dropped into these products such that shared Outlook Calendars can be established to represent an agreed worklist or a project can be established to determine critical path dependencies in order to schedule and assign work.

 

SmartAsset offers several options for maintenance planning. Each level makes use of the schedules table, which is a repository for all maintenance activities including:

 

  • Job request/failure reports
  • Backlog jobs
  • Planned jobs including multiple level projects
  • Triggered and projected preventative maintenance tasks

Inventory Icon

Cataloguing, Purchasing & Inventory​

Cataloguing, Purchasing and Inventory functionality has been provided via an add-on module called SmartAsset (Contracts, Inventory & Purchasing System).

This separation is designed to facilitate those customers who already have some or all of this functionality within their own existing IT capabilities and who wish to have SmartAsset interface with those existing systems.

In addition, the separation also accommodates those customers who have separate organizational departments to perform these support functions for their maintenance area.

It should be noted that the interface between SmartAsset and SmartAsset is seamlessly transparent to the user as is the case with interfaces between SmartAsset and other third party packages performing the same functions.

The functions provided by SmartAsset include the following:

 

  • Definition of Catalogue Items that make up stocked and non-stocked items that may be consumed during the construction and subsequent maintenance of asset, equipment and other general assets.
  • Definition of Source of Supply information including Suppliers of goods and services, with provision for performance monitoring.
  • Addition and review of contracts for the provision of goods and services.
  • Selection and processing of Purchasing Requisitions that may be raised within SmartAsset or within the job-related material/resource allocation functions within SmartAsset.
  • Addition and review of Purchase Orders for the provision of goods and services, including electronic transferal services and on-line Internet-based access to Vendor information.
  • Inventory Control functions including Stock Cycle Counting, Stock Adjustments, Receipts and Issues that may be the result of requisitions raised within SmartAsset or within the job-related material allocation functions of SmartAsset.
  • Entry of Vendor-generated Invoices for the purpose of matching with originating Purchase Orders and identifying variations.
  • Identifying and tracking financial variations that result from international currency fluctuations.
  • Checklist items that may require a response during completion of this activity, such as inspection readings

Asset Tracking Icon

Asset Tracking

 

Some installations require the ability to individually track items of asset & equipment as they ‘move’ from one host location to another. Within SmartAsset, this capability is referred to as ‘Rotable Item Tracking’.

 

The basic identifying code used to represent an item of asset in SmartAsset is called the ‘asset code’. This code is assigned on the basis of the location and function performed by the asset item. Some customers refer to this type of code as a ‘Tag’ number.

 

In addition to this code, SmartAsset provides for a secondary identifier. The serial number is used to identify the physical item of asset that is currently installed at the location and performing the function designated by the associated asset code. When jobs are raised against a asset item as identified by its asset code, the related serial number is also recorded in the job and ultimately, in job history. This enables historical inquiries to be performed using either the asset code or the serial number. Using the former will retrieve all jobs performed on a specific asset location, irrespective of the installed physical item. Using the latter will retrieve all jobs performed on a specific physical item, regardless of where it had been used within the asset item hierarchy.

 

By nominating a asset item as being ‘trackable’, additional functionality is provided during entry of job completion data. A frame that displays the trackable item, its current host and any others attached to this location is included in the completion process. Using ‘drag and drop’ techniques, the user may remove a ‘failed’ rotable item from its host and send it to a nominated ‘repair’ workgroup by raising an associated ‘repair’ job, or return the item to the store (if repair is not required) or simply ‘scrap’ the item. A new rotable item is then expected to be assigned to the vacated ‘host’ item.

 

On completion of the repair job, the repaired rotable item may be returned to store and subsequently issued to another host location.

 

Audit trails are retained for these transactions including current meter readings (operating hours, etc) for subsequent historical tracking.

Contract Management Tracking Icon

Contract Management

 

The Contracts module of SmartAsset has been designed to enable the user to raise contracts for the following activities

 

  • Supply of maintenance services with reference to asset, equipment & assets within SmartAsset
  • Supply of construction services with reference to master projects, projects and sub-projects within SmartAsset.
  • Supply of materials for inventory replenishment

When the capabilities of the Workflow module are combined with this module, the user has a powerful tool for raising, reviewing and monitoring Contracts.

 

Functions available within the Contract module of SmartAsset include the following:

 

  • Entry, updating and review capabilities of contractor details, using the ‘supply_source’ table, which is additionally used to identify other sources of supply such as Manufacturers, Vendors, Importers and Agents.
  • Entry, review and monitoring of contracts established in order to secure the supply of goods and services. SmartAsset makes use of the ‘contract’ table to store master information about the contract and, depending on the type of contract, makes use of several ancillary tables to retain variable information such as the goods (catalogue items) and services (maintenance jobs, construction projects) that are to be supplied under this contract.

 

These ancillary tables may be interrogated during review processes in order to monitor contract performance and cost status in terms of estimated versus delivered contract value for the associated material purchases, asset & equipment maintenance and project activities.

 

Workflow definitions may be used to automatically notify nominated users of contract variations, proximity to budgeted limitations and other occurrences that may require user intervention.

Risk Management Tracking Icon

Risk Management

 

Risk Management is widely recognised in both the public and private sectors as an integral facet of effective business practice as it provides management with a deeper insight and wider perspective for the effective management of the organization within a dynamic changing environment.

 

The SmartAsset Risk Management Module enables determination, assignment and utilisation of a Risk Rating for an Asset based on:

 

Consequence of Failure assignment at a facility group level and the Likelihood of Failure by Failure Mode assignment at a unit/component level.

 

The underlying principles of the SmartAsset Risk Management system are derived from the Australian/New Zealand Standard 4360:1999 on Risk Management and allow an organization to apply a Risk Management Process as defined by theis standard which is the systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, assessing, treating, monitoring and communicating risks.

 

When implemented benefits of Risk Management include:

 

 

  • Provides a structured framework for more effective strategic planning to ensure maximising of opportunities and minimisation of losses
  • Widens management perspective and encourages initiative and pro-active behaviour
  • Contributes to improved organisational efficiency and effectiveness
  • Optimises the use of resources
  • Promotes greater openness in decision-making and improves communication
  • Provides senior management with a concise summary of the major risks affecting the organisation and a mechanism to ensure that appropriate resources are directed towards areas of high risk
  • Provides a framework for ensuring that unavoidable risks are adequately insured
  • Provides an effective and systematic approach which enables management to focus on areas of risk in their operations
  • improves the level of accountability in the organisation

Strategic Planning Icon

Strategic Planning

 

Capital Replacement programs including allowance for depreciation, condition assessment and other mitigating factors can be captured in SmartAsset and applied to user-defiend formulae as applied via the SmartAsset Addin for Excel.

 

The huge advantage of this approach is that the vagaries in this area as may be required in different industries can be more readily accommodated.

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