![]() This helps to reduce disposal and subsequent procurement costs to replace assets on the production line. With regular maintenance, an asset’s operation lifecycle stage is prolonged meaning ageing equipment and machinery can run longer before needing to be replaced. That’s due to high engineer call-out costs, a loss of production, and spare parts purchasing. Reactive maintenance – a maintenance strategy deployed to fix and repair an asset only when it has failed – has a 40% higher cost expectancy than preventive maintenance. 78% of companies who implemented preventive maintenance with a CMMS saw improvements in equipment life. This allows for greater availability of assets to limit any chance of production downtime. ![]() Improve Asset Availabilityĭeploying a preventative maintenance plan is designed to prolong the operational stage of an asset’s lifecycle, to keep either equipment or machinery in optimal performance for longer. By having set schedules to either change lubricants, replace bearings, or repair moving parts during planned downtime, the possibility of asset breakdown is significantly reduced. ![]() The objective of preventive maintenance management is to reduce the likelihood of equipment breakdowns. Data analysis can alert engineers to irregular asset performance drops, allowing them to check equipment before it unexpectedly fails and results in unplanned downtime – something that cost the automotive industry $22,000 each minute in 2015. Through scheduling servicing and repairs, an asset’s uptime will increase. Companies that are reliant on the performance and availability of their production assets can gain several benefits from deploying a preventive maintenance plan: Reduce Unplanned Downtime This is in preference to both reactive and predictive maintenance plans. What Are the Benefits of a Preventive Maintenance Plan?Ĩ0% of maintenance personnel see preventive maintenance as a top priority in their industry. It allows maintenance teams to collect analytical data surrounding performance, breakdowns, and repairs, enabling them to set performance thresholds that help to quickly identify and prevent future faults. When deployed alongside a computerised maintenance management system (CMMS), PM offers much more than simply performing routine maintenance. *Outages lasted an average of 4 hours and cost an estimated $2 million (Vanson Bourne Study, 2017)įor businesses without a proactive approach to maintenance, running an asset to the point of failure can cost them up to 10 times more in repairs and lost production than companies with a planned preventive maintenance strategy. Companies Experiencing Unplanned Downtime 2014-2017* Particularly those that are reliant on equipment and machinery for generating revenue. With 82% of companies experiencing unplanned downtime at least once every three years, implementing a preventive maintenance management plan should be of top priority for maintenance leaders. Ultimately helping businesses to reduce unplanned downtime and prolong asset performance. This strategic maintenance approach – also referred to as preventative maintenance – consists of scheduled maintenance, cleaning, repairs, and spare part replacements. Preventive Maintenance (PM) is a proactive maintenance strategy that involves regular and routine maintenance of equipment, machinery, vehicles, and other assets to reduce the likelihood of failure.
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