IPEC Blog

Unplanned downtime and unforeseen maintenance intervals can be a significant cost for plant operators and rotating equipment operators, particularly those in the oil & gas industry where gaps in production can result in literally hundreds of thousands of dollars lost per day. 

An asset management program can be a valuable tool in helping plant operators achieve visibility into their operational efficiency and equipment performance. This helps industrial companies create more proactive maintenance schedules to reduce downtime and maximize the lifespan and precision of their equipment. 

Here, we’ll take a look at how an asset management program works, and then we’ll discuss the benefits this program provides in helping plant operators and equipment engineers to reduce annual maintenance costs. 

A big hurdle for industrial plant managers is finding ways to minimize maintenance costs without hampering productivity and efficiency. These costs can range between 20% to 30% annually, and, depending on the scale of production, unplanned downtime due to maintenance intervals can cost companies thousands upon thousands of dollars per hour. 

One key in helping to keep annual maintenance costs low is partnering with an authorized service center (ASC) for industrial equipment repair and troubleshooting, especially when it comes to ensuring the long-term reliability, precision, and durability of pumps and compressors. 

While working with a service center that a manufacturer does not back can help plant managers save money upfront, there can be significant ramifications over time, particularly in terms of equipment failure from using remanufactured parts. 

With this in mind, let’s look at a couple of ways that partnering with an authorized service center can help plant managers experience a greater ROI on their maintenance costs, and how choosing the right ASC can help you increase the service life of your equipment. 

The demands of modern manufacturing means plant operators need equipment that maximizes uptime, especially in today’s industrial environment where production takes place on a 24/7, 365 basis. While choosing industrial pumps and compressors that are designed for long-term, continuous use helps optimize productivity, it’s also important to understand the value of regular maintenance checks, on-site equipment inspections, and real-time troubleshooting.

The ability to optimize fluid management in several major industrial landscapes is based on pump systems that are engineered to be corrosive resistant. The two most common types of industrial pumps that can combat the use of highly corrosive fluids are fiberglass reinforced polymer (FRP) pumps and metallic pumps.