Beyond the Basics: Implementing a Holistic Approach to Asset Management for Optimal Performance
#PlantMaintenance #assetmanagement #PMAMIndore #PMAM“A good asset management strategy is based on three key factors - asset inventory, asset tracking and lifecycle maintenance approach.”- Dipankar Dutta, Business Head & Vice President, Symphony Limited
May 2024 : At the Plant Maintenance and Asset Management Summit- Indore Edition a panel of industry experts came together to deliberate on the implementation of a holistic approach to asset management. Moderated by Niranjan Mudholkar, Editorial Director of Pro MFG Media, the discussion centered on the theme, ‘Beyond the Basics: Implementing a Holistic Approach to Asset Management for Optimal Performance.’
A holistic approach is necessary for organizations to maximize the utilization of their assets to their fullest potential. “A good asset management strategy is based on three key factors - asset inventory, asset tracking and lifecycle maintenance approach. It requires rigorous training to ensure all these key factors are in place,” observed Dipankar Dutta, Business Head & Vice President, Symphony Limited.
“In the traditional approach to plant maintenance workers work in silos, there are shortfalls in addressing complexities and often the maintenance strategy is not executed properly due to either over maintenance or under maintenance. On the other hand, holistic maintenance is all about integrating the latest technology and assets with the maintenance philosophy and training the workforce accordingly and doing all of these with a growth mindset," stated Aadarsh, Assistant Vice President, Hindalco Industries Limited.
“A holistic approach implies a balanced mix of human intelligence and AI is deployed for asset maintenance,” mentioned Dinesh Bhatt, Vice President - Works & Complex Head, SRF Limited.
Developing a holistic approach to plant maintenance involves integrating various aspects of maintenance practices to ensure comprehensive and effective management of assets. “To develop a holistic asset maintenance strategy for optimal performance, it is necessary to move to a proactive approach to reactive approach. However, cost plays a key role in determining such a move. Given the cost constraint, one needs to figure out a combination of conditional monitoring, time-based maintenance and predictive maintenance along the entire value chain,” said Satendra Tiwari, Director Manufacturing, Case New Holland Construction Equipment
The key to a holistic approach is fostering a culture of continual improvement. “Only through such a culture can organizations realize tangible and sustainable benefits,” opined Dinesh Bhatt, Vice President - Works & Complex Head, SRF Limited.
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