Midas Asset & BOM

Midas asset management module enables users to capture and record the master data essential for plant asset management activities. This allows multi-site asset-intensive companies full visibility of assets and hierarchies, plant maintenance routines, Bills of Material and linkage to spare parts. The Midas asset hierarchy is structured in accordance with ISO 14224 standards, configurable for the specific layout of each company and operating plant. The elegant and interactive Midas GUI records individual asset criticality, risk and impact assessment. The Midas asset module’s SPIR component replaces traditional SPIR spreadsheets with a highly configurable portal, linked to assets, spares and dictionaries, allowing spare parts records to create accurate data at source. Based on the ISO 14224 compliant equipment classification structure, Midas enables the structured classification of all assets and equipments, captures documents, and displays the asset hierarchy, Bills of Material and functional location.

The Midas plant maintenance module incorporates all fields essential to capturing maintenance activities, including job plans, routes, task lists, labour, materials, tools and services, together with failure modes and repair strategies, allowing you to build preventative maintenance work orders. Midas asset module acts as the MDM tool to master your data, allowing for compliant asset information to be syndicated to your ERP.

The “as-is” situation

  • Inventory ask “why do we hold this spare part?” and maintenance ask “what spare parts or kits do we need to repair this asset?”
  • Spare parts not linked to assets or parent equipment in structured Bills of Material.
  • Missing key operating information such as criticality, impact and likelihood.
Midas Asset & BOM

Our Approach


  • Gap analysis to identify missing Bills of Material and equipment identification information.
  • Build the repairs and spares strategy.
  • Define the assets which require Bills of Material.
  • Define the required location and equipment supporting data such as criticality, class codes, descriptions, manufacturer and model number.

Standardise data

  • Build the functional hierarchy and asset register.
  • Obtain missing equipment information such as make, model number and serial number.
  • Allocate and store critical information relating to tags and equipment.
  • Develop and maintain interchangeability.
  • Combine existing and newly built Bills of Material.
  • Structured Bills of Material text as per defined standards.
  • Build single and multi-line Bills of Material based on the defined repairs and spares strategy.
  • Create new material master records for selected spare parts.


  • Know why spare parts are stored and on what equipment each part is used.
  • Improved preventative and corrective job plans and maintenance routines with detailed and structured Bills of Materials.
  • Reduced operational risk and increased asset uptime with reliable spare parts and asset data.
  • Improved spare parts holdings and inventory levels.
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