Equipment Depreciation: What You Need to Know

Bar chart graph displaying equipment depreciation
Calculating equipment depreciation is a priority for many businesses. Whether you're planning to invest in new equipment or considering the retirement of older assets, it's essential to monitor both your equipment's depreciation rates, maintenance history, and real-time performance.  This blog will review the most common methods for calculating depreciation, providing insights into this important process. Learning more about this accounting method will help you manage your assets more effectively,  and make better financial decisions. What is Equipment Depreciation? Equipment depreciation is an accounting method used to measure the gradual decrease in the value of your assets over time (or its...

Predictive Maintenance in Pharmaceutical Manufacturing

predictive maintenance in sterile pharmaceutical manufacturing
In the arena of pharmaceutical manufacturing – where precision is paramount, and downtime can mean millions in losses – predictive maintenance has emerged as a game-changing practice. Because product integrity and production uptime are non-negotiable, embracing predictive maintenance is no longer an option to consider – it's essential.  Pharmaceutical manufacturers are turning to predictive maintenance as a key strategy for ensuring the perpetual operation of production lines, safeguarding drug quality, and adhering to industry regulations. A forward-looking, proactive maintenance approach optimizes equipment efficiency and facilitates compliance with stringent regulatory standards, making it indispensable to the pharmaceutical sector. What Is It?...

5 Parts Inventory Management Best Practices

Maintenance technician, main image, parts inventory management)
Your maintenance strategy will only be effective if your team has the necessary tools and parts to complete maintenance and repairs. The importance of part inventory management cannot be overstated. This process involves keeping up-to-date inventory levels, knowing where spare parts are located, and managing resources to stay efficient and limit costs. In this article, we’ll explore parts inventory management best practices and explain why using LLumin’s CMMS+ (Computerized Maintenance Management System) software can be pivotal in helping your organization streamline and improve its inventory management processes. What Is Parts Inventory Management? Parts inventory management is a foundational process of the...

How to Improve Production Efficiency: 5 Strategies

Gears that say production efficiency, how to improve production efficiency
Maximum production efficiency is the goal for many manufacturers, leading to reliable output, safer work environments, and improved customer experience. And it requires a concerted effort over time to achieve. This blog will explore how to improve production efficiency and how it’s measured. We’ll also explain why LLumin’s CMMS+ (Computerized Maintenance Management System) can help you track important metrics. Understanding Production Efficiency Production efficiency (PE) optimizes resources to achieve the best possible output with minimal waste. It’s a balance between quantity, quality, and resource utilization. To understand the concept, it’s important to understand how to measure it. The formula for...

Maintenance KPIs: The Complete Guide

Two maintenance workers tracking maintenance KPIs on a CMMS system
Maintenance key performance indicators (KPIs) are beneficial for determining ways to increase production, limit costs, and extend the service life of machines. They are frequently used to measure improvement in facility operations and may indicate ways to improve facility efficiency. By understanding these maintenance KPIs, maintenance and facility managers gain valuable information on how recent updates and future changes impact facilities and machine longevity. Today, we will discuss common maintenance KPIs, how to calculate them, the usefulness of each KPI to managers, and how LLumin's computerized maintenance management system (CMMS+) software can help improve maintenance KPIs. What Are Maintenance KPIs...

How to Calculate Production Efficiency

High-tech futuristic image, production efficiency formula
Key Performance Indicators (KPIs), like production efficiency, are metrics that help maintenance managers determine optimal operating conditions of people, processes, and equipment. The production efficiency formula will determine where your actual output and standard (or optimal output) intersect. This is important because it helps professionals understand the point at which they operate at maximum production levels and efficiency.  This article will introduce you to the production efficiency formula. We’ll provide some key steps for calculating it and best practices for improving your facility's production and efficiency levels before introducing LLumin’s CMMS+ (Computerized Maintenance Management System).  What is Production Efficiency? Production...

Predictive Maintenance in Automotive Manufacturing

An automotive factory line benefitting from consistent predictive maintenance
When dealing with critical equipment, it’s crucial to minimize uncertainties in maintenance planning and budgeting. The world of proactive strategies offers a game-changing approach: Predictive Maintenance (PdM).  PdM falls under condition-based monitoring (CBM) and utilizes machine-level sensors, Internet of Things (IoT) technology, and advanced data analytics to monitor and diagnose mechanical failures. It excels at spotting early signs of impending machine faults or failures.  This early detection, in turn, maximizes equipment uptime and substantially reduces maintenance expenses. In this guide to predictive maintenance within the automotive manufacturing sector, we'll explore the merits of PdM, the challenges and solutions it presents,...

What Is Scheduled Maintenance? A Guide for Maintenance Managers

Scheduled Maintenance written on a post-it note, scheduled maintenance for maintenance managers
Maintenance planning and maintenance scheduling are not the same thing. On the one hand, you can plan to carry out your maintenance schedule and then postpone actually scheduling it. Scheduled maintenance involves deciding on a certain task to be performed, determining the time or date the maintenance will occur, and then assigning maintenance to the right technician. Understanding and properly implementing scheduled maintenance can improve equipment uptime and performance, efficiency, and lower costs. This article will explain what scheduled maintenance is, how it works, how to calculate it, and how to improve it. What is Scheduled Maintenance? As previously mentioned,...

9 Facility Management KPIs to Measure & Track

Two engineers wearing safety gear reviewing their facility management KPIs in their facility management software.
As a facility manager, you want to keep your facility running smoothly and efficiently. But to do this, you need to track performance. Facility managers must track broad-level data (such as overall facility functions and efficiencies) and granular data (such as individual assets). And they need to synthesize this extraordinary volume of information into actionable insights—facility management KPIs help. If you've ever been confronted by a dense spreadsheet of numbers, you know there's such a thing as too much data. Facility management KPIs are specific metrics designed to tell you how your facility is performing. These KPIs will tell you...

What Is Asset Performance Management?

Image of the words Asset Performance Management, APM
Getting the most out of expensive equipment is a major concern for businesses of all sizes. As technology advances, more businesses are shifting away from break-fix maintenance and toward strategies that provide greater control over the operational life of business-critical assets, with the advantages of increased lifespan, reliability, and performance. This mini-guide will explain what Asset Performance Management (APM) is, how it works, the benefits of APM, and the best practices for effectively implementing it. We will also highlight how LLumin's advanced Computerized Maintenance Management System (CMMS+) can support the condition-based, predictive, or prescriptive maintenance required for this proactive management...

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