Mike Sondalini — Thought Leader

WHAT IS THE DIFFERENCE BETWEEN A CRITICAL SPARE AND A STRATEGIC SPARE, AS WE NORMALLY COMBINE BOTH AS ONE. IS THIS RIGHT OR NOT?

—

We are facing difficulty in developing a definition of Critical Spare Part Inventory. No one is able to define it in its true essence. The situation is further confused with the difference to strategic spare parts. Any guideline or standard where we can find it ?

In the past, every Plant Manager had their own definition of Critical Inventory which changed with time. In optimization of Inventory, the first step is to establish a definition of Inventory considering all factors like production loss, redundancy, safety hazard, failure frequency, and of course, the lead time? Still I am stuck in this phase. I cannot progress, and don’t know what to do 1st, 2nd, and so forth to proceed further in this journey?

AN ASSET LIFE CYCLE WELLNESS CURVE SHOWS HOW PLANT AND EQUIPMENT RELIABILITY IS LOST AT EACH PHASE ALONG AN OPERATING ASSET’S LIFE CYCLE

—

In some industries, 40% of maintenance repairs result from original equipment manufacturing failures. And up to 35% of maintenance is traceable to design engineering mistakes. That totals 75% of maintenance costs during operation can be from prior life cycle process blunders

To get utmost operating plant and equipment reliability, you need to purposefully design and build your business processes to guarantee maximum reliability from each and every phase of the asset life cycle

“Chance-of Success-Mapping” is probably the most revolutionary concept used in Industrial and Manufacturing Wellness. It is certainly one that will help managers most when they want the best choices for their organization

This article outlines key concepts that an organization needs to be aware of to bring about optimal asset health by removing risks and managing their causes. The Plant Wellness Way EAM methodology focuses on the relationship between asset health and business performance. It contains the processes and analysis tools to develop a system-of-reliability that fully supports operating asset health for the greatest ROI from each asset throughout its life cycle.Risk is the total losses suffered when any asset’s components may fail. The causes of failure are the environmental and operating stresses that affect a component’s microstructure. This means that world class reliability is the effective, complete remove of the causes of failure, also known as risks, from your operations.

Adopting the business strategy of intentionally tightening process and work quality standards will drive operating profits higher. You get most operating profits when process and work quality variables are sitting on their optimal cost points. The Taguchi Loss Functions of your operation show the connection between your operating costs and your process and work quality.

Keywords: Taguchi Loss Function, quality verses cost, Quality Cost Function

Companies end rat-race problems fast and get world class reliability by using the simple Plant Wellness Way EAM methodology to slash operational risk and make your plant and equipment world class reliable

How to get a Plant Wellness Way EAM system-of-reliability that ends your Production and Maintenance rat race is shown in the image below. It’s a simple strategy and plan for building a truly effective life cycle asset management system that purposely replaces old production and maintenance rat-race causing systems.