DECEMBER, 20206 Importance of Optimizing Maintenance StrategyEditorialMaintenance Managers across the world are faced with a huge variety of challenges every day, many of which can significantly impact the effectiveness of maintenance programs, reduce production and risk the safety of their team. As an asset begins to age, a significant challenge Maintenance Managers face is ensuring they spend the optimum level of expense money (OPEX), at the right time, to maintain the highest level of integrity and reliability that ensures continuous production and the safe operation of the facility. The key to overcoming this challenge requires not only assessing the risk associated with each element of the plant, but also determining how these risk rankings come together to form the basis of your planned maintenance and inspection programs.Knowledge, experience and preparation vary according to the profile of the maintenance organization. Thus, collaborative work is of vital importance. It is important that the maintenance manager helps facilitate communication channels and integrated work between different parts of the organization (e.g. engineering, production, procurement, stores, safety department etc.) as well as within the maintenance organization itself, including, various disciplines, support workshops, service providers etc. Maintenance managers are also expected to contribute / function as part of the senior management team, responsible for making key business, operational and financial decisions. While it may in theory be possible to deploy a perfect technical maintenance program, maintenance managers face the very real challenge of financial budget constraints that limit their planning options. As a result, maintenance managers continually need to balance operational expenditures on technology, labour, parts and service costs, while keeping in mind the impact of these decisions on the long-term productive value of the installed asset base. This require maintenance managers to consider all cost types, including fixed, variable, direct or indirect costs as well as the corresponding depreciation and tax implications. In this regard it is critically important for maintenance managers to understand the business context of the assets under their care, and the commercial impact of maintenance related decisions and trade-offs, both in the short as well as over the long term.We hope this edition will help you in making an informed decision about the Maintenance Management consulting/service providers.Let us know your thoughts!Rachel SmithManaging Editoreditor@appliedtechnologyreview.comCopyright © 2020 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorRachel SmithEditorial StaffJoe PhilipLaura PintoMatthew JacobMerlin WatsonDaniel HolmesLeah JaneVisualizerJohn Gotham*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEmail:sales@appliedtechnologyreview.comeditor@appliedtechnologyreview.commarketing@appliedtechnologyreview.comPhone:510.722.8394Contact Us:DECEMBER, 2020 , volume 03 - Issue 06 Published by ValleyMedia Inc. To subscribe to Applied Technology ReviewVisit www.appliedtechnologyreview.com
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