FAQ: The AssetWorks CAM Analytics Module

These days, it wouldn’t be a surprise to find a fleet organization struggling with collecting and analyzing asset data. As a result, the ability to manage the planning, procurement and disposal processes of fleet assets is hindered. AssetWorks’ Capital Asset Management (CAM) application is the first software solution on the market that is specifically created to help fleet managers and software users to do their jobs in the most efficient way they can.

In total, CAM has four primary modules: Analytics, Planning and Budgeting, Procurement and Remarketing. Each module is linked to a database, which is integrated with the maintenance system. Additionally, CAM can be integrated with an Enterprise Resource Planning (ERP) system, such as SAP or PeopleSoft, to support financial and fixed asset management functions. In this blog, we will spend a brief time looking at the primary benefits and features of the Analytics module.

What can the CAM Analytics Module do?

Cost analysis is key to effectively and economically managing fleet assets. CAM’s Analytics module is designed to help asset managers with those decisions. Included in the Analytics module are a number of specific analytic functions and an integrated reporting solution that develops custom reports and analytics based on each organization’s identified needs.

The features within CAM Analytics that we will be going over are:

  • Life-Cycle Calculation
  • Maintenance Forecasts
  • Asset Life-Cycle, Forecasting and Scoring
  • Custom Analyses
Life-Cycle Calculation

The Life-Cycle Cost Model tool uses cost and operating data extracted from the linked maintenance system to calculate a Mean Equivalent Annual Cost (MEAC) based life-cycle, which models costs over the life of similar assets to identify the optimal replacement point. CAM generates two types of Life-Cycle Cost Models (LCCM): periodic Category Reference Models and on-demand Custom Models.

Category Reference Models are scheduled to run monthly to update the life-cycle data and model for each asset category set up in CAM. These models use parameters and assumptions set up within the category.

Custom models allow you to customize the selection of assets based on a category taxonomy, specifications, organizational assignments, and model parameters and assumptions, as needed. Model assumptions include the ability to remove data outliers and to apply trends when the model data may be incomplete.

Additional life-cycle analysis tools include:

Cost Trend Analysis

Cost Per Use Model

Data Distribution Analysis

analytics
Maintenance Forecasts

Using the category reference model results, CAM can generate trended maintenance costs and Maintenance Repair Units (MRU) for each category and year in service. The Maintenance Forecast Rate Card calculates target and non-target maintenance costs as well as labor hours for each year of an asset’s life and can be used in setting rental rates for equipment. There are three separate forecast options that estimate what the maintenance costs and labor hour budgets for the following year or more will be, based on the planned age distribution of assets in each month and the estimated costs for that distribution.

Asset Life-Cycle, Replacement Forecasts and Scoring

CAM has several tools to help with the analysis and the evaluation of specific assets. These tools rely on an asset’s historic operating and capital-cost data extracted from the maintenance system. Each asset has its next replacement date forecasted based on when it meets the replacement planning guidelines set for its current category. Depending on the replacement criteria, CAM estimates the optimal month that the asset is eligible and its resulting replacement cycle for subsequent replacements.

CAM ranks assets based on your weighting of one or more of the over fifty different asset-specific measures. Each asset’s calculated values are turned into normalized scores based on distribution of the values for all other assets in a comparable group. Each measure is then weighted and summarized to determine the asset’s overall score. A radar graph displays the results for each of the selected measures for that asset for easy identification of high-scoring measures.

Custom Analyses

CAM has an integrated reporting tool that allows users to write and share reports. Using a wizard-based user interface, CAM Business Intelligence lets users select data from a set of specialized reporting views. Users can build basic list reports or pivot tables, include links to sub-reports, and add summaries. Additionally, the charting tool allows users to add multiple charts and gauges to a report as well as create interactive visualizations of the data. Any user-developed report can be saved and shared with other CAM users, exported as Excel and PDF files, or emailed as a link to another CAM user.

Conclusion

CAM Analytics has a robust set of a features that organizes and optimizes the total asset replacement process. If you would like to see an in-depth study of both the Analytics and Planning and Budgeting modules, please check out this white paper.

To see a demo of CAM Analytics and more, please fill out the form below:

2021-04-09T14:22:28-04:00

Share This Story, Choose Your Platform!