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Critical Component Failures

Submitted by Luis Morinigo, VP Business Development & Strategic Partnerships at TwinThread
It’s a cliché, but bears stating nonetheless - no one piece of equipment is made to last for an eternity. Like everything else, an asset has an expiration date. The key is to get the most out of that piece of machinery as you possibly can – to squeeze every last drop that it has to give. Not only that though. To be totally efficient, you need to be fully apprised of when that last drop will be squeezed. You need to be able to accurately pinpoint when you’ll need to plan a transitioning phase from the aging asset to the replacement. Getting a lot of functional years out of an asset is great.
However, the benefits you experience from a piece of equipment that gives you longevity will all be undone if one of its critical components finally gives out and, because you didn’t have the insights to see it coming, your operation suffers from a period of lower productivity – waiting for the replacement to be installed and made operational. The reality is this, the best resource to draw upon for achieving your profit potential is your in-house know-how.
They know what goals you should be targeting to achieve the greatest level of optimization. The only thing standing between your subject-matter experts and acting on those goals is undiscovered insights that are buried within your existing data.
They need a platform that removes the barrier created by the depth and breadth of your operational information. A solution that puts in their hands a quick-to-insight predictive asset life application will allow them to get closer to your data than they’ve ever been before. Being all the more acquainted with the finer details of what the insights are saying, they will be able to determine when an asset transition plan should be triggered. This ensures your operations won’t be left in the lurch by an unsuspected component failure or asset expiration. Your domain experts will be able to see, in real-time, any deviations or dips in performance, informing their decisions to plan component change-out or total asset transition procedures in the most efficient manner possible.
If you’d like to learn more about what a comprehensive Predictive Operations Platform looks like and how easy it should be to implement and use, schedule a demo today.
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