Adding Corrective Maintenance to Your Asset Management Strategy
Asset management is integral to the core business operations of most organizations. Improving and effectively managing assets helps augment productivity, reduce costs, and streamline operations. One strategy that has been gaining significant traction in recent years is the incorporation of corrective maintenance into your asset management strategy.
Understanding Corrective Maintenance in Asset Management
Corrective maintenance, as the name implies, refers to the actions taken to rectify and fix the issues in an asset. These actions may include minor adjustments, part replacements, or complete overhauls. The idea is to bring the asset back to its ideal operational state where it can function properly and efficiently.
Why is it Important to Add Corrective Maintenance to Your Asset Management Strategy?
Incorporating corrective maintenance into asset management is critical in ensuring that your assets continue to perform optimally. This strategy helps prevent sudden breakdowns, increases the reliability and lifespan of your assets, and ultimately, reduces costly downtime. The longer an asset is out of commission, the higher the cost to your organization in terms of lost production, sales, customer satisfaction, and even employee morale.
Benefits of Adding Corrective Maintenance to Your Asset Management Strategy
- Reduced Downtime: The timely repair or replacement of faulty components can significantly reduce the overall downtime of your assets.
- Improved Asset Life: Regular corrective maintenance extends the life of your assets and machinery, postponing expensive replacements.
- Cost Savings: Consistent maintenance can help identify small problems before they become large-scale issues, resulting in significant cost savings in the long run.
- Increased Productivity: Well-maintained assets operate at their peak capacity, directly affecting productivity rates.
How to Effectively Implement Corrective Maintenance in Your Asset Management Strategy?
The effective implementation of corrective maintenance requires a structured and organized approach. Here are a few steps to guide you:
- Asset Inventory: Start with a thorough inspection of your assets and develop an inventory that includes the age, condition, lifetime service, and repair history of each asset.
- Develop a Maintenance Plan: Based on the asset inventory, develop a maintenance plan. Include periodic inspections, routine servicing, and plans for part replacements.
- Train your Team: Ensure your maintenance team is well-equipped with the knowledge and skills to administer effective corrective maintenance.
- Evaluate and Adjust: Continuously monitor the effectiveness of your maintenance plan and adjust as necessary.
When Should Corrective Maintenance be Conducted?
Corrective maintenance should ideally be conducted as soon as an asset shows signs of malfunction or decreased performance. However, for non-vital assets or in situations where planned, periodic maintenance is conducted, corrective maintenance may be scheduled during non-peak operational hours to minimize downtime and disruption.
Conclusion
With the importance of asset management stepping into the spotlight in today's demanding business environment, a well-crafted corrective maintenance strategy could be the key to unlocking operational efficiency, cost savings, and a higher return on asset investment. It’s time to give your assets the attention they deserve.
