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Failure consequence refers to the impact of a certain failure mode, primarily used in evaluating assets when using reliability centered maintenance (RCM).
Benchmarking is a process of evaluating a company’s performance by comparing metrics and processes with those of other companies.
Lockout/tagout also known as LOTO refers to safety practices and procedures that ensure dangerous machines are properly shut off.
A function describes the intention of a piece of equipment, while functional failures detail conditions that would prevent equipment from peak operation.
IRS Publication 946, Appendix B, lists useful life estimates by industry and application. These estimates can be used as a baseline.
Scheduled maintenance critical percent (SMCP) is an effective way to prioritize inspections, checks, repairs, and more.
Mean Time Between Failure (MTBF) is a metric that defines the average time that equipment is operating between breakdowns or stoppages.
Risk-based maintenance addresses risk-sensitive systems and machinery. RBM determines the most economical way to distribute resources to repair a system.
A programmable logic controller, PLC for short, is the brain of a modern-day facility that depends on various machines and equipment.
The theory of constraints looks at what's holding back an objective in manufacturing and supercharges a team to make necessary changes to revitalize progress.
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Use this guide to help navigate asset operations management software selection to capitalize on digital-first efficiency gains where data and workflows are automated and connected.