In today’s competitive business environment, reliable equipment operation is crucial for uninterrupted operations and increased productivity. On the other hand, saving on maintenance costs can be a perilous path to tread.
Maintaining a balance between the two factors can have far-reaching effects, potentially even raising maintenance costs. The solution lies in optimizing equipment reliability, making it the bedrock of maintenance efforts.
It may be difficult to accelerate double-digit percentage cost reductions in some industries, such as pharmaceuticals and nuclear. Nonetheless, the primary focus should be on improving equipment reliability, which could lead to lower maintenance costs. [Read more…]