Improve Profitability of Revenue Producing Assets – New Whitepaper from USC Consulting Group

USC Consulting Group’s latest Whitepaper, ‘Proper Asset Maintenance Improves Safety, Reliability, and Profitability’, discusses a real-world example of establishing a maintenance strategy for critical assets and how it can improve bottom-line profitability.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
A successful maintenance strategy for any asset heavy industry is to ensure that equipment is running reliably for as long as possible, and that it does so at the lowest possible cost.

Tampa, Florida (PRWEB) March 20, 2014

USC Consulting Group (USCCG) has recently released a whitepaper from its Global Mining & Metals practice that details how to establish a strong maintenance program for critical equipment and how it can improve safety, reliability, and profitability. The whitepaper, Proper Asset Maintenance Improves Safety, Reliability, and Profitability, outlines the many benefits that come with implementing a robust asset maintenance strategy, such as lowering the cost of material repairs through reducing the number of breakdowns, and increasing productivity through improving equipment utilization. Combined, these results can provide benefits on both sides of the value equation, and are applicable to many industries that rely on revenue-producing equipment. The whitepaper can be downloaded from their blog, Metrics (metricsblog.wordpress.com).

“As technological advances in equipment continue, it becomes increasingly important to have a strong asset management and maintenance strategy in place to keep your revenue-producing assets running reliably,” says Dave Shouldice, VP and Managing Director, Global Mining and Metals Practice for USCCG.

Authored by USCCG Project Manager Jake Rivers after a multi-year project at a large underground precious metals mine, the whitepaper discusses how to improve the ratio of planned work to unplanned work through creation of a backlog, or a master list of all known repairs. One of the objectives of a maintenance program should be to maximize the percentage of time and resources spent on planned maintenance, and reduce the amount of unplanned maintenance, or repair work, resulting from unexpected breakdowns. Creating the backlog provides visibility into future repairs and allows for the ability to identify and predict equipment failures before they occur. Since it is inevitable that some breakdowns will be unplanned and unavoidable, a Root Cause Analysis is an effective method to analyze these breakdowns and eliminate the cause. Key performance indicators such as Mean Time Between Failure and Mean Time to Repair can be put into place to measure and monitor future performance. According to Rivers, “a successful maintenance strategy for any asset heavy industry, not just mining, is to ensure that equipment is running reliably for as long as possible, and that it does so at the lowest possible cost.”

About USC Consulting Group, LP
USC Consulting Group (USCCG) is an operations management consulting firm helping clients improve financial performance with a focus on operational excellence across the supply chain. Founded in 1968, the firm brings experience, enabling technology, and subject matter expertise to implement solutions, not just recommend them. With offices in the United States and Canada, and projects spread across the globe, USCCG has worked in many industries with companies of all sizes, including many in the Fortune 1000. For more information please follow us on LinkedIn, Twitter or visit http://www.usccg.com.


Contact

Follow us on: Contact's Twitter Contact's LinkedIn Contact's Google Plus

Attachments

Proper Asset Maintenance Improves Safety, Reliability, and Profitability