Maintenance as a key part of overall strategy can improve profits by reducing the costly effects of machine downtime. “Indeed, maintenance should be seen as a profit centre,” according to Greg Sassen, SKF asset reliability consultant.
The correct implementation of hardware and software will assist companies in realising a return on their investment by reducing mean time between failures (MTBF), extending equipment life, improving uptime, plant availability, production and profitability.
It is essential for companies to identify key business goals and set associated performance targets in order to remain competitive and profitable. “The overall objective in this effort should be to create a strategy aligned to business goals and then follow a well-defined process to drive down total costs of ownership whilst maintaining or even increasing production time,” suggests Sassen.
Maintenance is usually seen as a necessary cost of doing business. “Neglecting maintenance results in equipment failure, unplanned downtime and a drop in production levels,” continues Sassen. “However, one train of thought suggests that manufacturers could make a return on their investment in maintenance and even that maintenance should be seen as a profit centre.”