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You are here: Home / Articles / How to Save Your Company Millions in 2020

by Robert Kalwarowsky Leave a Comment

How to Save Your Company Millions in 2020

How to Save Your Company Millions in 2020

As I’m writing this, it’s December of 2019 and you should be putting the final touches on your reliability plan for 2020 before the holidays.

What should you include in your reliability plan?

If your data quality is average or better, you should be able to make a bad actors chart for the last 12 months.  Most people do the chart like the following:

This chart is useful because you can see the units that are causing you the most downtime and create your plan around tackling those units (in this case, Gearbox A & Diesel Generator A).

But you’re forgetting cost

I recommend doing it like the following chart.  What’s the total cost of these failures?  In total cost, I’ll include lost production (opportunity cost), maintenance cost (labor, spare parts, etc.) and social benefits (safety incidents, environmental incidents, reputation, etc.).  How does it compare?

In this, made up, example, you would work on the hydraulic units (B, C & potentially A) versus Gearbox A and Diesel Generator A, that have higher downtime.

Putting it all together

Once you have your selection of the top bad actors, you’ll have to estimate how much time it would be to work on them and the type of work (RCA, RCM, defect elimination, etc.).  Fit those into your schedule, get to work and save your company millions in 2020.

Reliability Never Sleeps,

Rob

 

Filed Under: Articles, on Maintenance Reliability, Rob's Reliability Project

About Robert Kalwarowsky

Robert Kalwarowsky joined Fluid Life in the spring of 2014 and currently focuses on machine learning, lubrication & reliability audits and reliability product development. Previously, Rob worked as a Reliability Engineer at Teck Resources and his work focused on condition-based monitoring analytics, failure prediction, risk analysis and spare parts optimization. He also has consulting experience in financial modeling with an emphasis on optimization and cost benefit analysis. Prior to that, Rob graduated from the Massachusetts Institute of Technology (MIT) with a Bachelor of Science degree in Mechanical Engineering with a minor in Management.

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