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Asset Management Best Practices In The Chemicals Industry

Posted by Harriet Schneider on Jan 27, 2022 7:31:25 AM

The average lifespan of assets in the chemicals industry has increased over time, and as a result, the associated maintenance work has significantly increased along with it. As per some estimates, 50% of fixed costs for a typical chemicals plant are the result of continuous maintenance work. This maintenance work can be classified into three categories: reactive, preventive, and predictive.

Reactive maintenance

As the name suggests, reactive maintenance is performed after something breaks down. When a company dedicates a significant amount of its time, money, and resources to conducting reactive maintenance, the company typically “pays for it” in the form of schedule interruptions, rescheduling, lost volume/sales, lost customers, lower pricing power to attract new customers, fines and charges, etc. While cutting maintenance costs may look profitable, a complete assessment of all side effects would likely prove otherwise. In fact, the total cost of reactive maintenance can turn out to be two to three times higher than a preventive maintenance approach.

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Topics: Manufacturing, Chemical, Supply Chain, Chemical & Life Sciences, Enterprise Asset Management, CloudSuite

Top 5 Reasons To Upgrade To Infor LX

Posted by Harriet Schneider on Oct 25, 2018 8:00:00 AM

Infor® LX is an ERP solution that offers deep industry functionality and flexibility to help you adapt to new manufacturing trends and industry changes. 

Infor LX is a comprehensive, flexible and advanced enterprise resource planning (ERP) solution for mixed mode and process manufacturers that operate with an IBM System i environment (formerly AS / 400 or iSeries). This solution improves the efficiency of the main business processes, including manufacturing, logistics, channel management, customer relations, relations with suppliers and financial management. With Infor LX, companies can improve their efficiency, agility, sustainability and profitability by improving their ability to manage variable demand and adapt to changing market conditions.

Why should you invest in this technology?

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Topics: Manufacturing, Food & Beverage, Industrial Manufacturing, Chemical & Life Sciences, Consumer Packaged Goods

About ICCG

Welcome to our Blog - ICCG Insights!

Embracing thought leadership as a pathway for growth, represents the true spirit of progressive change that will make a difference in technology-driven industries. As a consulting company, ICCG customers look to us as their value-added resource. They expect us to be proactive about solving their immediate challenges and we don’t take that responsibility lightly. It is this that drives us to share our best practices, knowledge-base, years of experience, and tried and true methodologies. These have been the hallmarks of our corporate brand.

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