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Saving $1.2M in Transport by Enhancing Asset Availability
How a transport authority in the Middle East improved its operations and asset maintenance with midas360
Client
- Client
Challenge- Solution
- Impact
Client
The client is a major transport authority in the Middle East. The organization has two major divisions: rail and bus. The rail division operates 70+ trains while the bus division operates 1400+ buses on 100+ routes, carrying around 7 million riders on nearly 179,000 trips a month. Carrying out public transportation at such a massive scale requires seamless execution of everyday operations while also dealing with various technical and other challenges.
Challenge
The client faced numerous operational challenges in managing its vast transportation network. The lack of on-demand KPI reports hindered stakeholders' ability to promptly assess asset health and efficiency. Integration issues among applications like fuel management, vehicle monitoring, and asset management led to data discrepancies, complicating accurate analysis and decision-making. Variations in data formats for costs and maintenance details further disrupted standardization processes, affecting efficiency and reliability. Additionally, a high frequency of corrective maintenance highlighted a reactive approach to asset management that increased downtime and operational costs. These challenges collectively impacted the client’s ability to maintain seamless and efficient public transportation operations.
1
Lack of on-demand KPI reports, which made it difficult for stakeholders to promptly assess the health and efficiency of assets.
2
Integration issues among different applications such as fuel management, vehicle monitoring, and asset management leading to data discrepancies, hindering accurate analysis and decision-making.
3
Variations in costs and maintenance data formats, affecting the standardization of processes along with the efficiency and reliability of the assets.
4
High frequency of corrective maintenance due to a reactive rather than proactive approach to asset management, leading to increased downtime and operational costs.
Solution
To address the operational challenges faced by the client, BCT deployed its analytics-driven asset management platform, midas360. The solution provided tailored insights and recommendations for implementing smart maintenance practices, enhancing efficiency in maintenance operations for both buses and trains. At the fleet and model levels, BCT developed unified preventive maintenance plans, streamlined maintenance schedules, and conducted comprehensive lifetime maintenance data analysis. Advanced analytical methods, like case-based reasoning and reliability analysis, made it possible to find potential failures before they happened. Monte Carlo simulation predicted failure scenarios, which made it easier to plan preventative maintenance and improve the management of resources and inventory. Predictive maintenance algorithms generated timely alerts with a 78% accuracy rate, minimizing unexpected failures and downtime. This comprehensive approach significantly improved asset visibility, availability, and operational efficiency, along with asset performance trends and long-term decision-making.
1
Provided tailored insights and recommendations for smart maintenance practices.
2
Developed unified preventive maintenance plans and streamlined schedules.
3
Conducted deep analysis of lifetime maintenance data at fleet and model levels.
4
Used Monte Carlo simulation to predict failure scenarios and corrective maintenance at the subsystem level.
5
Implemented proactive alerts based on predictive maintenance algorithms.
6
Applied advanced analytical techniques like case-based reasoning and reliability analysis to predict potential failures.
Impact
Implementing midas360 transformed the client’s everyday operations. Unified preventive maintenance plans optimized resource utilization and minimized operational disruptions, leading to a smoother maintenance schedule. The transition from a reactive to a proactive maintenance approach resulted in a significant reduction in corrective maintenance instances, improving operational reliability. The client saved $1.2 million in annual costs and increased asset availability by 1.2%. A comprehensive analysis provided useful insights into performance trends, facilitating informed strategic decision-making for long-term asset management. The solution helped improve the preventive maintenance work order ratio from a 45/55 ratio to 70/30, signifying a shift towards proactive maintenance. This helped the client optimize inventory management and resource allocation. Overall, the solution bolstered the client’s overall service quality and customer satisfaction.
1
A seamless maintenance schedule and enhanced resource utilization.
2
An annual cost saving of $1.2 million and a 1.2% increase in asset availability.
3
Improved decision-making for long-term asset management.
4
Enhanced efficiency with optimized inventory management and resource allocation.
5
Greater proactive maintenance, reducing reliance on reactive maintenance.
6
Improvement in asset visibility, availability, reliability, and performance.
7
Greater overall efficiency and increased customer satisfaction.
The deployment of midas360 effectively addressed the client’s operational challenges. BCT’s solution enabled application integration, data standardization, and implementation of predictive maintenance, thereby enabling real-time KPI reporting and asset health monitoring. It also ensured annual cost savings of $1.2 million, a 1.2% increase in asset availability, and a shift from reactive to proactive maintenance. Enhanced asset visibility and planning, coupled with reduced corrective maintenance instances, resulted in smoother operations, improved reliability, and increased customer satisfaction.
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