In asset-intensive industries, accurately tracking maintenance costs is crucial for optimizing budgets, extending asset lifecycles, and making informed operational decisions. The IBM Maximo Application Suite (MAS) offers robust tools to manage and accumulate maintenance costs effectively.

Maintenance Cost Accumulation in Maximo Application Suite

The Role of Work Orders in Cost Tracking

In Maximo, maintenance activities are recorded through work orders, which capture costs related to labor, materials, tools, and services. When a work order is closed, these costs can be rolled up to the associated asset, providing a comprehensive view of maintenance expenditures.

Manual and Automatic Cost Rollups

Maximo allows for both manual and automatic maintenance cost rollups:

• Manual Rollups: Users can manually initiate cost rollups within the Assets application.
• Automatic Rollups: By setting the system property mxe.workorder.rollupMaintenanceCosts to 1, Maximo can automatically roll up costs upon work order closure. This automation ensures timely and consistent cost accumulation across assets.

Asset Hierarchies and Cost Aggregation

Maximo supports asset hierarchies, allowing organizations to structure assets in parent-child relationships. Maintenance costs from child assets will roll up to their respective parent assets, providing a consolidated view of expenses at different organizational levels. This hierarchy is captured upon closure of the work order. This is important for industries, such as transportation, where asset components can be swapped out routinely.

Utilizing Automation Scripts for Historical Data

For existing work orders closed before enabling automatic rollups, Maximo offers automation scripts to perform one-time rollups. These scripts update the total and year-to-date (YTD) costs for assets associated with previously closed work orders, ensuring historical data is accurately reflected.

Benefits of Effective Maintenance Cost Accumulation

Implementing structured maintenance cost accumulation in Maximo provides several advantages:

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·      Enhanced Financial Visibility: Accurate cost data supports better budgeting and financial planning.

·      Improved Asset Management: Understanding maintenance expenditures aids in making informed decisions about asset repairs, replacements, and lifecycle management.

·      Operational Efficiency: Automated cost rollups reduce manual efforts and minimize errors, leading to more efficient maintenance operations.

Effective maintenance cost accumulation is vital for operational excellence in asset-intensive industries. IBM Maximo Application Suite offers robust features for tracking and managing these costs efficiently.

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While Maximo provides powerful tools for maintenance cost management, maximizing its potential requires expertise and tailored implementation. Naviam specializes in helping organizations harness the full capabilities of Maximo Application Suite with a team of certified experts and 24/7 support available.

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Contact us today to ensure your investment in Maximo leads to tangible improvements in maintenance cost tracking and overall asset management for your organization.

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