Posted on 05/04/2015

By Lora Mays, Product Marketing Manager

The manufacturing industry suffers from a talent gap. For the past three years, skilled trades have topped the list as the most challenging jobs to fill. On top of that, experts predict that the skills gap will only continue to grow.

In fact, a survey from ESMI found that more than half – 53% – of skilled-trade workers in the U.S. were over the age of 45, and nearly 20% were between the ages of 55-64.

There’s a lack of manpower in today’s manufacturing industry, and chances are it’s only going to become worse. Add to that the demands of doing more with less resources – both from a people perspective and a budget standpoint – and we’ve got a potential crisis.

For maintenance teams responsible for the production equipment, and often times the building shell as well, this lack of manpower can be debilitating to their success. However, technology solutions like an automated asset management system can improve the efficiency of the existing team by helping them work smarter, not harder.

Automated asset management solutions track all data related to assets within the facility, including warranty details and service history. In addition, it can automatically generate preventive maintenance schedules and assign to the associated technician. In the event of a breakdown, it can kick off a reactive work order request and notify the technician that it’s a high-priority item.

Throughout the entire process, it collects essential data points that can later be analyzed through reporting. Understanding how much time your technicians spend on preventive maintenance versus reactive maintenance activities can highlight key gaps and areas for improvement. In addition, by tracking all data related to an asset – including how often it breaks down and at what cost – you can make data-driven decisions on whether you should replace or repair the asset.

Beyond that, automating your asset management routine can help you handle budget constraints. In fact, they can help you reduce your maintenance costs by as much as 35%.

While the talent gap in the manufacturing industry may be growing, there are ways that organizations can prep for the future without feeling the pains of lacking manpower. Investing in an automated asset management solution serves as one piece of the puzzle, and can not only help with manpower deficiencies, but can also help with other issues facing the maintenance department.

Learn more about the benefits of automated asset lifecycle management software solutions, including how it can save you time and money, in our whitepaper.