April 24, 2007
Study Shows 90% of Preventive Maintenance (PM) Programs Fall Short
“Ounce of prevention” could cure future maintenance headaches
Wilsonville, OR—April 24, 2007—A preventive maintenance (PM) benchmark study conducted across multiple industries, found that over half of the facilities managers rated their current PM program insufficient in reducing costs and extending the life of equipment and assets, while another 37% ranked their current program less than optimal.
In an effort to promote best practices within facilities maintenance, Corrigo, a leading provider of on-demand maintenance management software, surveyed over 140 facilities managers across the real estate, retail, field services, restaurant, government and education industries. While respondents stated that reducing operating costs and controlling spend were top goals, less than 10% felt that their PM program was optimal.
Recognizing the need to proactively manage assets and equipment, the majority (59%) of respondents stated that they document preventive maintenance tasks. However, 66% did not have a system in place that provided important service details to the field in real time, such as the condition and service history of an asset, preventing most field techs from accessing information when they need it most.
“Extending asset life can be critical to achieving cost reduction goals,” noted Richard Michaux, president of Corrigo. “Proactive asset management reduces costs, extends asset life, and allows small issues to be fixed before exploding into costly issues. Having a PM program that goes well beyond documenting task lists is key to achieving an optimum balance of equipment performance to expenses.”
The study also revealed the lack of visibility into scheduled maintenance, which ultimately has a negative affect on field productivity and operating costs. Supporting this statement, the majority of respondents (54%) said that they do not have the ability to make field service technicians aware of scheduled, assigned work located in the vicinity near the tech. In addition, a large majority (70%) of respondents reported that they do not have a process to provide escalation of overdue work or work due. Companies who do have systems in place providing this type of real-time insight reported that they are able to maximize field productivity and minimize operating costs in this area.
“These results indicate that many organizations still have a ways to go in terms of implementing automated tools and real-time reporting in order to drive optimal asset management,” said Michaux. “Once an optimal program is in place though, it can have an immediate impact on an organization’s broader strategic initiatives such as reducing costs and increasing service levels.”
Details of the results were reviewed during a Corrigo Best Practice Webinar, Proactive Asset Management. The Preventive Maintenance Benchmark Study is also available by visiting this link on Corrigo’s website.
About Corrigo
Corrigo, Inc.® is the leading provider of on-demand maintenance management software for maintenance, installation and repair organizations. The company offers a complete portfolio of web and wireless field service applications including timecard, job and location tracking, work order dispatch, maintenance management and enterprise service management enabling a seamless, real-time flow of communication between customers, service personnel, management staff, vendors, suppliers and senior management. Corrigo products integrate with all popular financial systems including JD Edwards, Microsoft Great Plains, Oracle Financials, Peachtree, Intuit QuickBooks, Best Software MAS 90, SAP, Geac Starbuilder and Timberline. Corrigo is headquartered in Wilsonville, Oregon. For more information, visit http://www.corrigo.com
