About the client
Our client is a leading utility authority, established in 1999, responsible for the provision of electricity and water services across a significant region in the UAE. The organization focuses on balancing production and distribution costs, studying consumption behavior, and promoting resource conservation.
Problem Statement
The client faced considerable challenges in managing and maintaining accurate records for approximately 600,000 linear and non-linear assets distributed across the UAE. The absence of a structured asset management system resulted in inefficiencies, discrepancies, and operational risks, impeding effective decision-making and resource allocation.
Scope
CODA Technology Solutions was engaged to undertake a comprehensive project that included:
- Conducting a physical audit and conditional assessment of all assets.
- Creating Bills of Materials (BOM) and capturing/linking images to specific assets.
- Managing and cataloging data.
- Updating Functional Location (FLOC) of assets.
- Systematically classifying assets.
Solution Provided
We deployed a robust master data management strategy to address the client’s challenges. Our solution included:
- Organizing assets into a structured Asset Master, adhering to Noun-Modifier conventions, ensuring consistent and standardized asset descriptions.
- Implementing a thorough document tracking system to monitor and verify all base documents, thereby maintaining data integrity.
- Aligning asset codes with international standards using UNSPSC codification, facilitating seamless integration and interoperability.
- Identifying and consolidating duplicate codes, which streamlined the asset database and reduced redundancy.
- Verifying material codes and quantities through meticulous data validation processes.
- Capturing and linking images of nameplates and tag plates to corresponding material codes, providing visual verification and enhancing data accuracy.
- Collecting mandatory missing data to fill critical gaps in the asset records, ensuring comprehensive asset profiles.
- Conducting discrepancy checks to identify and resolve inconsistencies, thereby improving data reliability.
- Verifying the operational status of assets, ensuring that all records reflect current and accurate information.
- Developing a Functional Location (FLOC) hierarchy template to establish a clear and organized asset structure.
- Building a detailed asset register, which served as a central repository for all asset-related information.
- Systematically classifying assets to facilitate easy retrieval and efficient management.
Outcome
The implementation of our master data management solution resulted in a highly structured and comprehensive asset management system. The project, currently ongoing and set for completion within the 12-month timeframe, has already delivered significant improvements in asset visibility and management.
Asset management framework that significantly streamlined maintenance planning and resource allocation, driving down operational costs and enhancing overall efficiency
Unified Asset Master with real-time synchronization, ensuring a single source of truth that bolstered data accuracy and reliability across the enterprise.
Dynamic risk management through precise asset records and a comprehensive FLOC hierarchy, empowering strategic decision-making and minimizing operational risks.
Benefits
- Enhanced planning and scheduling of maintenance activities, leading to increased operational efficiency.
- Reduced operational costs through better asset management and optimized resource allocation.
- Lowered operational risks due to accurate and up-to-date asset records, enabling proactive risk management.
- Real-time updates and synchronization ensured a single source of truth, enhancing data integrity and reliability.
- Streamlined operations through systematic classification and discrepancy checks, contributing to overall operational excellence.
