ASSET MANAGEMENT KEY PERFORMANCE INDICATORS AND BENCHMARKING

• US 20140358645A1
• Filed: 05/30/2013
• Published: 12/04/2014
• Est. Priority Date: 05/30/2013
• Status: Abandoned Application

• Current Assignee: Id Systems Incorporated (PowerFleet, Inc.)
• Original Assignee: Id Systems Incorporated (PowerFleet, Inc.)
• Inventors: Ehrman, Michael, Ehrman, Ken, Jagid, Jeffrey, McGurran, Darren
• Application Number:
  US13/905,601
• Publication Number:
  US 20140358645A1
• Time in Patent Office: Days
• US Class Current: 705/7.39
• CPC Class Codes: G06Q 10/06393 Score-carding, benchmarking or key performance indicator [KPI] analysis

Abstract

Monitoring asset performance to identify key performance indicators (KPIs) is described. A method is described including receiving a set of asset performance information relating to at least one target asset associated with a company, calculating a KPI in view of the set of asset performance information, determining a cost benefit measurement based on the calculated KPI, and generating a report including at least one of the KPI or the cost benefit measurement. Additionally, the calculated KPIs and/or cost benefit measurements may be used to perform intra-company comparisons and inter-company comparisons.

Claims

1. A method comprising:

receiving, by a processing device, a set of asset performance information relating to at least one target asset associated with a company;

calculating, by the processing device, a key performance indicator (KPI) in view of the set of asset performance information;

determining, by the processing device, a cost benefit measurement based on the calculated KPI; and

generating, by the processing device, a report comprising the cost benefit measurement.

2. The method of claim 1, wherein the set of asset performance information comprises a number of days the at least one target asset is in service within a selected time period, and wherein the KPI comprises a days in service rate representing the number of days the target asset is in service divided by a total number of working days in the selected time period.

3. The method of claim 1, wherein the set of asset performance information comprises a number of activity hours of the at least one target asset within a selected time period, and wherein the KPI comprises an activity rate representing the number of activity hours divided by a total number of working hours in the selected time period.

4. The method of claim 1, wherein the set of asset performance information comprises a number of activity hours of the at least one target asset at a location within a selected time period, and a total number of assets in service at the location, and

wherein the KPI comprises a fleet utilization rate representing the number of days the number of activity hours divided by a product of the total number of assets in service at the location and a number of daily plant hours associated with the location.

5. The method of claim 1, wherein the set of asset performance information comprises a number of activity hours of the at least one target asset within a selected time period and a number of operators associated with the at least one target asset, and

wherein the KPI comprises an operator utilization rate representing the number of days the number of activity hours divided by a product of the total number of operators and a number of daily shift hours.

6. The method of claim 1, wherein the set of asset performance information comprises a number of overtime hours associated with a location and a total number of operators associated with the location, and

wherein the KPI comprises an overtime rate representing the number of overtime hours divided by a product of the total number of operators and a number of daily shift hours.

7. The method of claim 1, wherein the set of asset performance information comprises a number of sleeper hours associated with the at least one target asset within a selected time period and a number of login hours within the selected time period, and

wherein the KPI comprises a sleeper rate representing the number of sleeper hours divided by the number of login hours.

8. The method of claim 1, wherein the set of asset performance information comprises a number of simultaneous logins in an interval within a selected time period and a total number of active assets within the selected time period, and

wherein the KPI comprises a peak fleet usage rate representing the number of simultaneous logins divided by the total number of active assets.

9. The method of claim 1, wherein the set of asset performance information comprises a number of impacts within a selected time period and a total number of activity hours within the selected time period, and

wherein the KPI comprises a safety rate representing the number of impacts divided by the total number of activity hours.

10. The method of claim 1, wherein the set of asset performance information comprises a number of completed checklists within a selected time period and a number of non-compliance lockout events within the selected time period, and

wherein the KPI comprises an Occupational Safety and Health Administration (OSHA) compliance rate representing the number of completed checklists divided by a sum of the number of completed checklists and the number of non-compliance lockout events.

11. The method of claim 1, wherein the set of asset performance information comprises asset performance information associated with a first location associated with the company and a second location associated with the company.

12. The method of claim 11, further comprising generating an intra-company comparison comparing the KPI associated with the first location to the KPI associated with the second location.

13. The method of claim 1, wherein the cost benefit measurement comprises a return on investment percentile ranking.

14. A method comprising:

receiving, by a processing device, a set of asset performance information relating to a plurality of assets associated with each of a plurality of companies;

calculating, by the processing device, a KPI for each of the plurality of companies based on the associated set of asset performance information;

performing, by the processing device, an inter-company comparison in view of the calculated KPI for each of the plurality of companies; and

generating a report comprising the inter-company comparison.

15. The method of claim 14, wherein the KPI comprises at least one of a days in service rate, an activity rate, a fleet utilization rate, an operator utilization rate, an overtime rate, a sleeper rate, a peak fleet usage rate, a safety rate, or an OSHA compliance rate.

16. The method of claim 14, wherein the inter-company comparison comprises a quantified benchmark comparing the KPI of a first company of the plurality of companies and the KPI of a second company of the plurality of companies.

17. A non-transitory computer-readable medium storage medium comprising instructions that, when executed by a processing device, cause the processing device to perform operations comprising:

receiving a set of asset performance information relating to at least one target asset associated with a company;

calculating a KPI in view of the set of asset performance information;

determining a cost benefit measurement based on the calculated KPI; and

generating a report comprising the cost benefit measurement.

18. The non-transitory computer-readable medium of claim 17, wherein the KPI comprises at least one of a days in service rate, an activity rate, a fleet utilization rate, an operator utilization rate, an overtime rate, a sleeper rate, a peak fleet usage rate, a safety rate, or an OSHA compliance rate.

19. The non-transitory computer-readable medium of claim 17, wherein the inter-company comparison comprises a quantified benchmark comparing the KPI of a first company of the plurality of companies and the KPI of a second company of the plurality of companies.

20. The non-transitory computer-readable medium of claim 17, wherein the set of asset performance information comprises asset performance information associated with a first location associated with the company and a second location associated with the company, and further comprising generating an intra-company comparison comparing the KPI associated with the first location to the KPI associated with the second location.

21. A method comprising:

determining, by the processing device, at a first time, a baseline value for a key performance indicator (KPI) relating to a company;

receiving, by a processing device, a set of asset performance information relating to at least one target asset associated with the company;

calculating, by the processing device, at a second time, a second value for the KPI in view of the set of asset performance information;

determining, by the processing device, a return on investment metric based on a comparison of the baseline value for the KPI and the second value for the KPI;

generating, by the processing device, a report comprising the return on investment metric.

22. The method of claim 21, further comprising:

receiving, by the processing device, an indication of a target KPI; and

determining, a potential return on investment metric based on a comparison of the target KPI and the second value for the KPI.

23. The method of claim 22, wherein the target KPI is determined based on one or more KPI values associated with one or more other companies.

24. The method of claim 22, wherein the target KPI is determined based on one or more KPI values associated with one or more other assets relating to the company.