Knowledge-based asset management for WaveRiders

1. Knowledge-based asset management for WaveRiders Team B1 FotiniSavva Jarrett Robbins Oritseweyinmi Barber NatnichaTangkijngamvong Mohammad Waseem Sandouk ShijunJi

2. Contents Vision & Strategy Knowledge management strategy EFQM requirements How do we get there? Asset management strategy Facilities management Security management Health & safety management Environmental management Life-cycle management Maintenance Resource Utilization

3. Vision & Strategy Vision: To bring the most technologically advanced and reliable security and fun to European and UK waters Strategy: develop excellence in Waveriders through application of the EFQM excellence model criteria

4. Knowledge management

5. Knowledge management strategy • Where are we now? • No formal KMIS in use • Knowledge is transferred informally (verbal interactions and on the job learning) • No system on ground to support OL • KM is gaining increasing popularity in industries across Britain/Europe? • Technological advances are leading to more advanced KM tools

6. KM: EFQM requirements (4e) Provide Leader’s with info for decision making that allows them to predict future performance Transform data into info and then into knowledge that can be shared Provide access to info for employees and stakeholders while ensuring security of company data Establish networks to identify opportunities in the environment Use data on current performance and process capabilities to identify opportunities

7. KM: Where do we want to be? Transform tacit into explicit knowledge Create a culture that enables and encourages OL Develop a structured KM system

8. KM: How do we get there? Employ KM Tools: KM Information System, Skill Management, Intranet etc. Employ KM Model Improve availability and accessibility to knowledge Create culture of knowledge sharing Invest in Data Security

9. KM: Integrated strategic KM Model DETECT AND DISCOVER ORAGANIZE AND ASSESS INVEST DIVEST

10. KM: Phases of KM Activity • Detect and Discover • Existing knowledge within Waveriders • Organize and Assess • Knowledge Assets within the company • Invest • In structures and systems that will enable KM activities • Divest • Organizational Knowledge should be reviewed at intervals to confirm its relevance; obsolete knowledge must be discarded

11. Asset management

12. Facilities 1- Facilities management

13. Facilities Facilities management: Current Situation Distributor is overcharging Stock levels too high (raw materials, finished goods) Inefficient usage of floor space and equipment

14. Facilities Facilities management: Future Situation • Reduce distribution costs • Optimize stock levels • Review floor plan layout and equipment usage profile

15. Facilities Facilities management: Short-term Plan (1 year) • Revising the contract with the distributor (contract management/outsourcing) • Create detailed asset database (Park, 1998) • Create a detailed space allocation plan (space management) • Undertake a work station assessment (space management)

16. Facilities Facilities management: Mid-term Plan (1-3 years) • Assign project manager (contract management/ outsourcing) • Create an inspection plan of current property ensuring that they maintain safety standards (property and health & safety management)

17. Facilities Facilities management: Long-term Plan (3-5 years) • Review all the contracts with external contractors for quality issues (project manager) (contract management/outsourcing) • Expand the database to include critical to quality issues for equipment (property management) • Create requirements plan for any future expansion or diversification (property and health & safety management)

18. Security 2- Security Management Importance: To ensure the continuity of business operation before and during a crisis To ensure that both tangible and intangible assets are protected from any incident To protect workers from accidents and hazardous environment at workplace

19. Security Security Management: WaveRiders’ current security levels

20. Security Security Management: WaveRiders’ future security and action plan

21. Health 3- Health & Safety • Why is it Important? • Excellent organisations look after their people. • It's the LAW • What are the Benefits? • Protects your Assets – Workforce, Building and Equipment • Reduce Absence and Sick leave • Improved Staff Retention and Moral • Improved Productivity and Effectiveness • Reduced Insurance Premiums, Compensation Payouts & Legal Costs • Maintain Business Reputation

22. Health Health & Safety: Elements

23. Health Health & Safety: Current Concerns • Current Situation within Waveriders • Poor Use of PPE • Exposure to FRP Dust • Exposure to Styrene products and Fumes • Exposure to Iso-cyanate paint mist • Awkward working positions • Poor separation of Fire and Explosion Risk from ignition sources • Chemicals used during manufacture of FRP are highly flammable. • Dust released during trimming operations is combustible.

24. Health Health & Safety: Action Plan • Short-term (1 year): • Enforce correct use of PPE equipment. • Enforce correct working practices for spray booth. • Segregated Safe zone for FPR layup, grinding and trimming operations • Equipment used inside Safe Zones must be suitable for use in explosive atmospheres (IP54) • Immediate purchase of local exhaust ventilation systems/ Air flow benches. • Improved Clean up practices • Regular Health monitoring

25. Health Health & Safety: Action Plan • Mid-term (1-3 years): • Reduce dependency on Isocyanate paints • Improve overall internal working environments within workshop(s). (Heat, lighting and Ventilation) • Work with community to address external H&S concerns • Long-term (3-5 years): • Isocyanatefree paint systems • Revised construction methods reducing content of hazardous materials. • OHSAS 18000 Occupational H&S management systems integrated fully integrated with Quality management and Environmental management systems

26. Environment 4- Environmental management • Where are WaveRiders now? • Environmental Management is at it’s infancy in WaveRiders’ • Few formal procedures in place to manage the environment.

27. Environment Environmental management What do we need to do? • EFQM 4C • Develop an active Environmental Management System. • Aim to exceed legal requirements long term. How do we get there? • Develop and Implement a 5 year action plan for WaveRiders’ Environmental Management

28. Environment Environmental management: Short term(1 year) Short-term (1 year): • Improve waste disposal techniques/system • Improved protection against accidental discharges into Drainage System. • Segregation of Hazardous Waste. • Complete review of Clean-Up procedures. • Improved Stock Control (Hazardous materials). • Target 5-7% reduction in Utility bills • Equipment standby procedures • Waste Reduction – packaging

29. Environment Environmental management: Mid-term(2-3 years) Mid-term (2-3 years): • Reduce content of Hazardous materials . • Integrate End of life initiatives into design processes. • Review delivery scheduling with outsourced logistic company • Implement Odour Reduction policy (through filter ventilation). • Develop Robust Emergency Response Plan (See Portfolio) • Target 10-15% reduction in Utility Bills • Target 25% reduction in waste • Replace all lighting with energy efficient solutions

30. Environment Environmental management: Long-term(3-5 years) Long-term (3-5 years) • Manufacturing process should Go as green as possible • Review potential benefits of renewable energy solutions, e.g. solar panels • Complete Review of usage and substitution of hazardous materials where technically feasible. • Review potential for ‘Brown water’ recycling for use in manufacturing processes. • Integrate Environmental Management system with Quality and H&S systems • Target 25% reduction in Utility bills.

31. Life-cycle 5- Life-cycle management Current situation: Cost estimation is based on expert judgment Costing activities are not documented Forecasting is done on a yearly basis End of life disposal is not considered for raw materials selection

32. Life-cycle Life-cycle management: Future situation Linking life cycle management action points to the EFQM criteria for

33. Life-cycle Life-cycle management: Short-term (1 year) • Reduce forecasting intervals to a quarterly basis • Hazardous materialsto comply with current and future legislation • Do a ‘parametric analysis’ for the costs of raw materials • Documentand review

34. Life-cycle Life-cycle management: Mid-term (1-3 years) • Monthly forecasting • Consider strategies for end of life disposals • All materials to comply with current and future legislation

35. Life-cycle Life-cycle management: Long-term (3-5 years) Reduce forecasting intervals to a weekly basis Total lifecycle costing and analysis (depreciation, purchase price, disposal, maintenance, etc.)

36. Maintenance 6- Maintenance management • Importance: • Efficient utilization of resources • Minimize asset operation failures • Maintain and improve service levels

37. Maintenance Maintenance management: Current level

38. Maintenance Maintenance management: Action plan Short-tem (1 year) • Create a maintenance plan • Assign 2 operatives and 1 supervisor to be in charge of maintenance • Finished maintenance tasks should be reported and, then documented in the knowledge management system Mid-term (1-3 years) • Review the maintenance plan • Reconsider number of member in the maintenance team • Run an annual inspection of maintenance (maintenance team, works manager) • Initiate preventive maintenance project Long-term (3-5 years) • Apply the preventive maintenance plan

39. Utilization 7- Resource utilization • Problem • Waste material in production process • High inventory volume • Outdated demand plan? (Entry Euro Market) • Action plan • Understand the constraints in production process • Combine forecasting plan with Just-In-Time (JIT) production

40. Recommendations Create a team (one to three people) with the specific purpose of managing company’s assets Create greater awareness and benefits of knowledge and asset management within the business

41. Conclusions The success of the asset management plan is highly dependent on achieving management buy-in Plan will require careful change management

42. References • Mertins, K; Heisig, P; & Vorbeck, J(2003)Knowledge Management: Concepts and Best Practices. 2nd Edition. Springer-Verlag. • EFQM Excellence Model (2010). EFQM Publications. • Pan, S.L & Scarbrough, H (1999)Knowledge management in practice: An exploratory case study. Technology Analysis & Strategic Management. 11 (3), Pp. 359 • Frost, Alan (2010) An Integrated Knowledge Management Framework. [Online] www.knowledge-management-tools.net. Access Date: 19/04/2012 • Jennex Murray (2005) Case Studies in Knowledge Management. Idea Group Publishing. Hershey: USA. • Campbell, J.D., Jardine, A.K.S & McGlynn, J. (2010). Asset Management Excellence: Optimizing Equipment Life-Cycle Decisions, Second Edition. CRC Press 2010 • Gordon Sinnamon and Susan Milner, 1996, ”Just-In-Time Schedules For The Small Make-To-Order Shop”, Canadian Journal of Administrative Sciences, vol. 12, issue 4, pp. 340-351 • R.J. Tersine, 1994, “Principles of inventory and materials management”, Englewood Cliffs, N.J.; London:Perntice-Hall International