PMMI’s (The Association for Packaging and Processing) OpX Leadership Network, a dynamic community of manufacturing, engineering, and operations professionals, has released the Asset Reliability Roadmap for the Consumer Products Industry tool.
Aiming to assist manufacturers to optimize investments in production equipment, this new tool will help Consumer Packaged Goods (CPG) companies and Original Equipment Manufacturers (OEMs) understand common definitions, key performance indicators (KPIs), calculations, and leadership guidance when developing an asset reliability initiative. Both CPGs and OEMs will gain an understanding of the necessity of providing their company’s leadership with a solid business case for calculating maintenance program costs, according to a statement.
“When developing this tool, our team of CPG and OEM maintenance experts shared their individual and varied experiences, insights and leadership guidance to identify and define a number of Key Performance Indicators that valuate asset reliability,” Bryan Griffen, director, Industry Services, PMMI said. “As a result of this collaboration, the OpX Leadership Network is excited to provide the industry with a unique, effective tool that will help businesses quantify the total value of asset reliability to the organization.”