Having the ability to identify, track, locate, and analyze physical assets can be a game-changer for pharmaceutical 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, a pharmaceutical company’s 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.