Maintenance strategy from the executive level: An investment in your bottom line

Most drivers take their vehicles in for maintenance every few months or few thousand kilometres to keep them running smoothly. Regular maintenance also reduces the risk of a breakdown — especially during a critical point of a journey such as in a remote area or on a busy highway.

Maintaining assets is no different. Asset intensive industries such as mining and power have thousands of maintainable assets. A breakdown in any one piece of equipment can have far-reaching implications across the chain of production, causing delays that cost time and money. Employees’ health and safety are also at risk if an asset fails unexpectedly.

Yet, despite the importance of a good asset maintenance strategy, we often hear from clients that the journey to implementation isn’t straightforward. For this series, we look at how best to introduce maintenance strategies to your organisation, practical tips for implementing a strategy and lessons learned from decades of global experience. We’ll cover:

  • Determining asset criticality
  • Building a new maintenance strategy and making it effective
  • Understanding the true cost of your strategy from a budget perspective
  • Determining the efficiency of your maintenance strategy
  • The challenges of creating effective maintenance strategies using traditional tools

Before we get into the details of how to implement a maintenance strategy, we first need to gain the buy-in of the organisation. How do you communicate the importance of an effective maintenance strategy to decision makers? What can you do to help business leaders understand the role and impact that an optimised asset maintenance strategy can have on the organization’s bottom line? 

Read the full article here.

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