Reaping the rewards of strategic maintenance
here’s much discussion these days about the need for strategic maintenance, but what does it really mean and more importantly, how can it benefit your organization? This White Paper addresses those concerns and concludes that maintenance has never been more directly tied to business performance than it is today.
While most maintenance professionals understand the massive amount of untapped value hidden in plant assets, the concept of strategic maintenance is typically not on the radar of those making plant-wide business decisions. This oversight is difficult to reconcile, especially when you consider that automation control system components – controllers, drives, motors, interfaces – are the lifeblood and productivity engine in most manufacturing plants. Nevertheless, maintenance remains one of the few business areas where even a modest improvement can provide a significant boost to the bottom line, as well as product quality.
In this sense, maintaining uptime has become the fundamental value proposition of the maintenance department. In relative terms, the value of uptime can be calculated by using the following formula: minimize unplanned downtime + maximize quality + minimize time to implement changes / the cost of maintaining uptime at the desired level. If any of the components of the uptime formula are not at the desired level, business performance can be impacted in the form of reduced revenue, decreased customer satisfaction, ongoing recovery costs and increased maintenance and capital costs.
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