Asset Management helps NASCAR Drive Down Costs
Hendrick Motorsports wanted to coordinate information across 6 warehouses, track usage of approximately 150 components on each car and get the system up and running within four months.
Schneider ElectricSchneider Electric is a leading global manufacturer of equipment for electrical power distribution and for industrial control and automation. The company helps power generators distribute electricity; designs automation systems for the automobile and water treatment industries; builds electric networks and utility management systems for energy, water treatment, oil and gas, and marine applications; and manages electric power in residential, industrial, and commercial buildings.Year founded: 1836Revenue: $26.0 billion (2014)EPA: SUFeatured Subsidiaries/ Business Units:- Avantis- Wonderware
Hendrick Motorsports, originally named All Star Racing, is a current American auto racing team created in 1984 by Rick Hendrick. The team currently competes in the NASCAR Sprint Cup Series.
- CONNECTIVITY PROTOCOLS
Schneider Electrics provides a solution which includes Avantis Asset Management Software and Avantis Industrial Rapid Implementation Methodology (InRIM). Software Components - Avantis EAM solution
- DATA COLLECTED
Asset Location, Asset Status Tracking, Asset Utilization, Inventory Levels, Operating Cost
- SOLUTION TYPE
- SOLUTION MATURITY
Mature (technology has been on the market for > 5 years)
- OPERATIONAL IMPACT
Impact #1 [Process Optimization - Real Time Asset Tracking]
Multi-site asset management capabilities track inventory in all six warehouses.
Impact #2 [Cost Reduction - Operation]
SAP integrated with existing business and financial operations resulted in $100,000 savings.
- QUANTITATIVE BENEFIT
Reduced cash outlay for inventory saves $400,000.
The solution saved $1,000,000 through reduced inventory by consolidating warehouse management.
Reduced overhead for single instance, multifacility management and saved $65,000.
- USE CASES
Asset Health Management (AHM)Asset Health Management refers to the process of analyzing the health of an asset as determined by operational requirements. The health of an asset in itself relates to the asset's utility, its need to be replaced, and its need for maintenance. It can be broken down into three key components:Monitoring: Tracking the current operating status of the asset.Diagnostic Analysis: Comparing real-time data to historical data in order to detect anomalies.Prognostic Analysis: Identifying and prioritizing specific actions to maximize the remaining useful life of the asset based on analysis of real-time and historical data.