How do you estimate the Return On Investment (ROI) of every Augury sensor?

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Antonio Muniz
edited April 2023 in Ask a Question

Hi everyone! #Predictive#Prescriptive Maintenance has the potential to revolutionize the way we maintain our facilities and operations. By collecting data on current maintenance and operations costs, analyzing the types of sensors and analytics available, and determining what areas may be improved by Maintenance, we can get a better idea of the Return On Investment (ROI) we can expect. How do you estimate the Return On Investment of every Augury sensor in your facilities?

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  • Kevin Loos
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    This is a great question and one I would also like to understand. How we can assess potential/real ROI on the assets we have in the Augury at the end of our contract year? We are nearing the end of our second contract year and expanded from 20 to 38 asssets under management from year 0 to year 1. Now I need to assess if/what we continue for year 3.

  • Samantha Isin
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    @Kevin Loos and @Antonio Muniz

    There are many methodologies that our partner organizations follow to assess value. This is highly dependent on the maturity of your organization.  Downtime avoidance is a strong indicator but ultimately relies on theoretical value.  Longer-term M&R reduction, PM optimization (machine touch reduction or lifetime extension between PMs), and an increase in planned activities against unplanned ones are among some of the more common assessment strategies. Ultimately, your Customer Success Manager is in place to help you determine the correct business case use and design an overview of your program that is suitable for your business goals.  Your CSM can help with content creation, showcasing materials, etc.

    Very interested in additional responses from customers here to see how they've estimated ROI. This is also somewhat connected to @Ed Ballina post last week about justifying Augury.

    @Ed Ballina Any thoughts here?

  • Ed Ballina
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    I completely support your comment about maturity. I would bet some folks might bristle at the assessment of their level of organizational maturity, so be it. If your operation is in Breakdown mode it is hard to get people to think about the ESG benefits of an improved operation or the impact on safety stock inventory levels in the warehouse. They are fighting a battle for survival every day, they want to hear how someone is going to help them keep their line from breaking down constantly. And by the way, it's Whack A Mole day every day. The failures happen frequently, in different parts of the proces, of seemingly different causes and you get to do it all over again tomorrow…

    A customer at a different stage of development (sometimes a term better accepted than maturity) will immediatly see the gains as a lifting of the whole Supply Chain, from raw material ordering accuracy to lower inventory levels in the warehouse to delighted consumers and appreciative customers.

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