The outbreak of the COVID-19 pandemic has affected every business and individual across geographies. Nationwide lockdowns and social distancing norms have reduced both demand and supply. This has forced businesses to halt their production facilities or work with reduced capacity.
In these crisis times, it may be tempting for businesses to cut down maintenance costs but this is a short-sighted approach and it might hurt in the future with unplanned downtime when demand is expected to rise.
Why Maintain Assets during Downtime?
Routine maintenance reduces unplanned downtime, keeps assets running, and reduces the risk of complete equipment failure. Regular inspections ensure that equipment is in peak condition maximizing productivity and minimizing safety risks.
COVID-19 is a short term issue and lockdowns will not be there for too long. Reports have stated that social distancing and remote working will slow down the spread of the virus which will allow the countries to exit lockdowns and restart economic activities. Businesses that retain the capabilities and keep their plants and equipment well maintained will be positioned better to respond to recovery. This downtime is the time to do equipment upgrades and shutdown maintenance which have been long overdue.
Invest in Digital Technologies:
This downtime is an opportunity to invest in digital solutions to shift from reactive to predictive maintenance, and possibly even achieve near-zero downtime. If you have not yet mobilized asset inspections, work orders, safety checklists, or work permits, you are missing out on significant benefits including cost savings and productivity.
As per a McKinsey Study, asset management leaders who leveraged digital technologies as their competitive strategy have reduced costs over 56% and have more than 50% better-operating profit than their industry peers.
Key Takeaway:
Keep your assets maintained well to remain agile and achieve maximum production to meet demand when recovery happens.
Unvired has built a suite of mobile apps for SAP enterprise asset management / Plant Maintenance that customers are using across the globe. If you would like to discuss more on how to improve your asset maintenance processes, contact us today for a live demo or send an email to sales@unvired.com.
