RELIABILITY DYNAMICS
Reliability Dynamics is an engineering and technology company specializing in equipment reliability and maintenance solutions for corporate software. The company has been in business since September 1, 2010.
OUR MISSION
We are committed to making asset-intensive industries safer and more profitable. We believe the answer lies in better decisions for equipment assets. Better decision-making requires better information, better information requires better data. So that is where we focus. We develop revolutionary tools that enable our customers to obtain and use high-quality equipment failure data to optimize their facilities.
BUSINESS CONCEPT
Our Industry Standard Solution for Plant Maintenance (ISPM®) is a standard solution for SAP software. A standard solution is cheaper, more effective, is tried tested and refined through actual application in industry, and can be rapidly deployed. There is less risk for customers with tried and tested solutions.
Equipment maintenance and reliability methodology and practices are fundamentally the same across different industries and companies. Industry standards give us prescriptive methods for ensuring equipment mechanical integrity and safe, productive, and sustainable operations. Use of them demonstrates good engineering practice. Industry standards also give us a “template” for how to manage equipment reliability and maintenance in corporate software systems.
VALUE PROPOSITION
Reliability Dynamics helps companies obtain and use high-quality data to make better decisions for their equipment assets. With Reliability Dynamics’ ISPM product, companies can quickly identify and address bad-actor and pattern equipment failures that affect production or cause hazards. Whereas traditional solutions account for only actual equipment repair costs (approximately 10 percent of revenue loss), ISPM gives companies the tools to account for all consequences related to each equipment failure: production loss, health, safety, and environmental incidents, and repair costs. With ISPM, companies can also account for potential “near-miss” consequences.
ISPM greatly improves equipment reliability data quality and accessibility with standard data collection processes and by structuring data in relational format. High-quality structured data enable fast and comprehensive analyses. Whereas non-relational failure data (typical of traditional solutions) must be analyzed one record at a time, with ISPM, thousands of failure events can be queried simultaneously. This gives companies the ability to make data-driven decisions.
