MOUNTAIN VIEW, Calif., Oct. 11, 2012 /PRNewswire/ -- Based on its recent analysis of the enterprise asset management (EAM) solutions market, Frost & Sullivan recognizes IFS with the 2011 Global Frost & Sullivan Award for Customer Value Enhancement. IFS's vendor-agnostic EAM solution seamlessly integrates with automation solutions from other vendors, thereby improving asset management capabilities.
IFS's overall equipment efficiency (OEE) and corporate performance management tools aid in analyzing production disruptions, determining the causes of maintenance issues, inadequate training, and design faults. Once end users identify the scope of improvement, IFS costing tools can gauge their cost-effectiveness. The data harvested from IFS's costing tools reduces decision-making time and improves operational efficiency.
Max OEE, a tool from IFS with a graphical interface, is much easier to use than competing units and adapts to existing systems. It has built-in analysis tools and integrates with the plant's work order system. Further, IFS's integrated asset design application helps in the planning and design of production plants from the conceptual stage to commencement."The asset design information is integrated with IFS purchasing, project, document management, and maintenance applications, which facilitates the planning of maintenance activities at the beginning of the plant design stage rather than after its completion," said Frost & Sullivan Research Analyst Vinay Pujari. "This leads to shorter lead time and more efficient use of internal and external personnel in new construction or rebuilding projects." IFS provides EAM solutions with the configurable functionality of enterprise resource planning (ERP), as required by customers, and can manage the complete life cycle of an asset—from design to decommissioning. IFS Applications is a component-based extended ERP suite, built on service-oriented architecture, which takes care of four core processes: service and asset management, manufacturing, supply chain, and the project.