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Life Cycle Management (LCM)

Life Cycle Management (LCM)

Life Cycle Management (LCM) can mean many different things, but in terms of what Scenic Acoustic and Vibration Engineering Ltd (SAVE) capabilities cover it is all about looking after an asset right through it’s life from conception to eventual scrapping and replacement. The benefits from Life Cycle Management (LCM) are reducing the cost of that asset throughout it’s life, Total Cost of Ownership (TCO), and surprisingly to some, the biggest influence on this cost is in the early stages of the cycle and not the operational area where most cost reduction focus and resources are implemented.

An asset’s life cycle, and how both the Original Equipment Manufacturer (OEM) and the End User (EU) can benefit, can be broken down in to the following main areas:

Specification – The greatest influence on TCO is the original idea
OEM: Gets a good recognised product that makes them money,
EU: If this is right they can get extra 15%reduction in TCO
Design – Streamlined attention to detail here ensures a reliable productive Asset
OEM: Gets it right first time saving money
EU: Saves money by getting a well designed trouble free asset
Manufacture/End of line testing – By fully implementing this
OEM: Improves their manufacturing margin and cuts down the pain of warranty/quality issues/costs
EU: Gets a reliable asset manufactured at lower cost, saving on start-up costs
Installation/Commissioning – Doing this right leads to trouble free – start up and operation
OEM: No incorrect Warranty claims & issues
EU: Vastly reduced start-up costs
Operate/Monitor – Correct operations maximise output
OEM: Learns from understanding how their Asset is operated in the field and saving on undue warranty costs and the ability to support more ‘on time’ spares
EU: Well known the benefits of monitoring in the after market
Maintain/Repair – Well practised this leads to reduced operating costs
OEM: Adds to their Service business and gives them knowledge to feed in to the next generation asset
EU: Often the difference between profitable or loss making production
Close the loop – by feeding back in to the next generation of an asset what has been learnt will have major benefits for all in an improved design.

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