Learn about the benefits of benchmarking in maintenance and reliability for your company. Better understand how this practice can increase efficiency, improve maintenance, and increase product quality.

Benchmarking in maintenance and reliability is an extremely important analysis strategy for any company that wants to achieve optimal results and improve its processes, services and products.

In this article, we’ll explore the benefits that implementing benchmarking practice can bring to a company, as well as examples of use in asset management.

What is benchmarking?

Benchmarking is the process of evaluating the performance of a product, service or process in relation to best market practices. It is a useful and extremely important analysis tool for any company that wants to improve its processes, services and products.

In practice, the company adopts as a reference numbers practiced by the market or by companies in the same sector to make a comparison with its own business.

What are the main benefits of benchmarking in maintenance and reliability?

Benchmarking can be extremely beneficial for asset management as it allows companies to compare their performance with that of their competitors. This means that organizations can identify and correct inefficient processes and procedures and reduce the time and costs associated with processes. Better understand these gains!

Increased efficiency

Benchmarking is a tool that allows companies to compare their own performance with that of other companies. This serves as an important market parameter for determining whether or not its production falls short of what is expected.

This means that companies can identify and correct inefficient processes and procedures, resulting in better operational efficiency.

For example, a company might find ways to reduce production time by researching new technologies and machinery used by the competition. This can represent a great opportunity for growth and increase in production.

Better maintenance

Another benefit of benchmarking is the improvement in product maintenance. In this process, you can compare the required maintenance levels in your products to those of similar products.

This helps companies identify failures and place improvements in products and processes that reduce the volume of interventions needed to maintain high asset availability.

Increased reliability

Reliability in asset management is the ability of a system, equipment or product to meet user expectations for a specific time, and to maintain its correct quality, safety, and performance.

Benchmarking also helps in this sense, as it leads to the comparison between the best maintenance and reliability practices of different companies.

This also increases customer confidence in companies, as it expresses the brand’s commitment to doing everything it can to ensure high quality products.

Benchmarking in maintenance and reliability is an extremely useful tool for any company that wants to improve its products, processes and services. It enables companies to compare product performance, efficiency, maintenance, and reliability levels with other companies’ levels, allowing companies to identify and fix problems before they become serious problems

For a good benchmarking strategy, it is essential to have tools that help you collect and analyze metrics about your asset management processes. Manusis4 is the ideal solution! Request a demo and understand how to do this in practice!