Ways to improve the MTTF for your assets
Conduct a failure analysis
Whenever an unexpected failure occurs, it can prove to be valuable to conduct a Root Cause Failure Analysis (RCFA) or a Failure Mode Effects and Criticality Analysis (FMECA) to help understand why an asset is experiencing a and how to prevent premature failures from happening in the future.
FMECA is a common method used to find problems with the design of a product, the manufacturing process, the materials used, or the installation method.
Consider the quality of the replacement parts used
Consider the context of a personal “asset” like your vehicle. Although there are certain replacement parts that are “good enough,” it can sometimes be counterproductive to use a cheaper or inferior replacement just to cut costs. For example, if you live in an urban setting but replace your city tires with all-terrains, you will lose a significant amount of MPGs which can add up to more fuel costs.
Similarly, using quality replacement parts for your assets, specifically OEM parts, will lead to greater reliable because these parts are manufactured to spec for the asset and use the verifiable materials and processes. In general, a quality replacement part is unlikely to fail due to wear or inadequate manufacturing materials.
Download our “MRO Inventory Best Practices Checklist” to make sure you are ready when it is time to replace parts.
Maintain your assets to keep them in good working order
Preventive Maintenance can often be overlooked due to the common misconception that it only applies to large or complex machinery. However, small motors, pumps, valves, fans, heat exchangers, and other pieces of equipment can all be subject to PM. Scheduled maintenance helps to reduce the risk of unplanned downtime, improves efficiency, and decreases costs.
Predictive maintenance is a strategy that uses sensor technology to monitor and predict the health of the asset before it breaks down. These sensors can provide information about the condition of the asset and allow you to take steps to avoid breakdowns. This same predictive technology is used to detect the future failure of a non-repairable asset, which can allow for proper planning for its replacement.
Test new assets on an engineering project
An idea to consider for improving the MTTF of your site is to test a new asset on an engineering project to monitor it and evaluate its true performance and cost-effectiveness.
For example, if your site is considering a new centrifugal pump that is a more expensive replacement, then a new engineering project would be the best testing ground to decide whether it is worth the investment. If the pump is more expensive but lasts longer, then this performance could translate across the entire site.