Asset Reliability Transformation: The Maintenance Perspective

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Asset Reliability Transformation The
Maintenance Perspective

• Persistent volatility in global trade and
  evolving geo-economic climate have propelled even
  the more conservative businesses towards
  digitalization and asset optimization. With
  better control of production costs and seamless
  visibility of the supply chain, even the harshest
  market conditions can be toughed out. As more
  and more manufacturing leaders come to realize
  this, asset reliability has taken center stage
  in Industry 4.0-related technologies and
  production best practices.
• But what does asset reliability mean for
  operation and maintenance managers? How does the
  concept translate into viable strategies? In this
  article, we will discuss asset reliability
  transformation, how more reliable plants can be
  built and maintained, and what it would mean for
  the asset maintenance teams of tomorrow.
• What is Asset Reliability?
• Reliability as a term often revolves around
  adherence to defined standards, a set of
  expectations, and consistent performance. For
  most industrial assets, reliability means
  performing within pre-defined operating
  conditions and delivering expected results. In a
  production environment, therefore, an increasing
  focus is shifting toward asset reliability
  management. Reliable assets
• Experience lesser breakdown and component
  failures
• Are available whenever they are required in the
  production process
• Safer and more sustainable to operate
• Adhere to regulatory and quality standards
• Minimize net maintenance costs and effort

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Although, throughout Industry 4.0, there has been
a gradual buy-in from manufacturing leaders for
prioritizing asset reliability, the how part of
it has been remiss. Operations and maintenance
managers understand the need for reliable assets
in their production plants, but how to make
available assets more reliable is still not well
understood. With asset reliability
transformation, the status quo is changing and
manufacturing industries are beginning to
develop scalable and sustainable strategies to
improve asset reliability.
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