Having the ability to identify, track, locate, and analyze physical assets can be a game-changer for pharmaceutical, biotech, and medical device firms in several ways.
First, it can help avoid downtime. The average cost of unplanned equipment downtime is $260,000 per hour, according to research by Aberdeen. Therefore, the pharmaceutical, biotech, and medical device companies' ability to avoid failures can help to increase uptime, reduce costs, and guarantee quality.
It can save significant amounts of money on equipment too. Through real-time monitoring functionality, maintenance can be scheduled intelligently, ensuring a longer lifespan for tools, equipment, and machinery. What’s more, operators can be preventively alerted to potential issues before they cause damage and unplanned down-time.
AXP 365 EAM™ helps meet regulatory requirements. Effective asset management technology will deliver a full audit trail and increase traceability of maintenance events, spare parts consumption, and machine/equipment availability. It makes compliance easy enforcing life sciences industry standards and improving product and process quality at the same time.