What we do

Asset-intensive companies demand predictable production at the lowest sustainable cost, starting with a clear picture of an enterprise’s overall asset health.   Using intelligent asset strategies, Meridium’s Asset Performance Management (APM) software and solutions can help your organization reduce operating risk and improve reliability by predicting and preventing asset failures. 

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Clients

Joy Global Achieves 100% ROI in the First 9 Months of an APM Implementation

APM Failure Elimination helps Joy Global optimize performance for mining customers

Challenge & Opportunity

Joy Global is a leading worldwide provider of advanced equipment, systems and direct services for the underground and surface mining industries. Joy Global’s products and services are used extensively for the mining of coal, copper, iron ore, oil sands, gold and other mineral resources. With 153 locations across six continents, its mission is to solve mining’s toughest challenges.

Joy Global works directly with its customers to provide equipment and services. That direct service business model allows it to be a leader in life cycle management. Partnering with its customers, the company both preserves the function of an asset long after it’s purchased, and helps deliver the highest production rates. Joy Global’s solutions reduce total cost of ownership by optimizing mine performance to achieve the lowest cost per ton.

To optimize performance, Joy Global analyzes data produced by its smart connected products. The company was in search of a solution that would support its life cycle management processes by allowing it to better use the data available.

At the time of implementing the Meridium solution, Joy Global was in the midst of a companywide merger of its surface and underground business lines, for which it had adopted Prosci’s change management program. Joy Global also employed Meridium APM’s metric user and root cause analysis.

The resulting ROI objectives for the implementation were aggressive and presented their own set of challenges:

  • Executive ROI expectations. The team was tasked with achieving 100% ROI in 12 months.
  • Cultural differences. Implementation occurred in several areas across the globe, regional and cultural differences needed to be considered, plus differences when working with surface versus underground mining.

The change management plan adopted by Joy Global to help achieve these objectives and assist in the implementation had three phases:

  • Phase 1: Prepare for change. Develop a sponsorship model. Identify “what’s in it for me” at every level and communicate those messages through the local leadership team.
  • Phase 2: Manage change – how changes are communicated to how they are rolled out.
  • Phase 3: Reinforce change. Remind the team of overall goals and purpose. Don’t allow teams to slip back into doing things the old way.

The Joy Global team approached these challenges by identifying the implementation “must-haves” and defined a rollout strategy. As part of the rollout strategy, the team obtained support from the highest level of influence in each of the rollout locations. It took a look at the existing structures in place and developed a strategic plan with them in mind.

Conclusion

The implementation was successful in part to the benefits afforded by working with Meridium. As a global company, Meridium understood Joy Global’s need to look at things from a worldwide perspective. Meridium’s system integration capabilities took into consideration current and future software needs. Meridium actively participated in mapping Joy Global’s processes during the solution design.

Overall keys to success included:

  • Adapting the implementation approach to cultural norms.
  • Prioritizing areas of greatest opportunity.
  • Allowing the business to run the project.
  • Balancing proven methodologies and business needs.

Joy Global has several hundred machines under life cycle management contracts, a percentage of which are supported by Meridium. In nine months Joy Global achieved 100% ROI. Joy Global recorded 115% ROI in 12 months, and it continues to grow as the implementation is rolled out to other regions. Its partnership with Meridium has allowed Joy Global to fully engage customers about getting more involved in their operations and optimizing their entire business strategy and systems.

Meridium solutions used:

  • APM Strategy
  • APM Failure Elimination