Industrial maintenance has evolved over the years to become a key element in achieving maximum production with the best quality at the lowest cost.
For any operator who is part of the maintenance team, knowing in detail the state of the machinery is almost a utopia. Knowing when certain parts need to be replaced, being able to predict when a breakdown is going to occur… there are many aspects that an industrial business must control if it wants to keep its equipment in optimum condition at all times and with minimum disruption to the production process.
Since there really is no magic formula for guessing when a machine will fail, maybe you wonder how the service life of an asset can be calculated.
What is the service life of an asset?
We understand the service life of an asset as the time during which an asset is operational for the company and works in perfect condition. In other words, during the useful life of an asset it is expected to operate at peak performance.
For this reason, it is possible that the service life of an asset has ended, but the asset continues to function. However, it will not be doing so at maximum efficiency, running the risk of unexpected breakdowns that can interrupt the production chain at any time.
When an asset reaches this point, it often ceases to be economically profitable for the company, as it will require more and more maintenance and reprocessing with its consequent interruptions.
Therefore, the service life of an asset should not be taken into account when it is only in operation, as it should do so in the most optimal conditions.
The life cycle of an asset
To fully understand how an asset functions, it is necessary to understand its life cycle. This can be divided into 4 phases:
- Planning. In this phase, a need is identified and the purchasing process begins.
- Procurement. After comparing suppliers, calculating the investment and other aspects, the asset is purchased to be installed in the factory.
- Operation and Maintenance. Once installed, the asset will be in use, benefiting the company’s performance and production process.
During this stage, maintenance is a must. This will help to extend the service life of all the machinery involved in the production chain, reducing costs and preventing irreparable damage to the facilities.
- Disposal. When the asset stops functioning normally and needs constant repairs, it is time to replace the asset to avoid total loss of functionality.
How to calculate the service life of an asset?
In reality, there is no universal formula with which to calculate the service life of an asset, as there are a number of external factors that will influence its longevity. Frequency of use, environmental factors such as temperature, humidity or quality of maintenance are some of them.
However, there are 3 ways to estimate the service life of the asset:
- Ask the manufacturer about the approximate service life of the asset you have purchased. They will be able to provide approximate data on the number of cycles or uses that the asset can withstand. From this data, a calculation can be made taking into account the use that will be made of it in the business.
- Access the history of equipment with similar characteristics. This method can be very service if you are looking to make an estimate taking into account the real use of the asset.
- Adjust annually and make forecasts. It is important to review the estimates and analyse whether the asset is becoming obsolete or no longer operates with the expected performance.
Predictive maintenance to extend the service life of an asset
Companies, especially in industry, want to optimise maintenance in order to achieve the highest levels of availability and reliability at the lowest possible cost.
Establishing a predictive maintenance plan will be the best guarantee for extending the service life of the machines and equipment of an industrial business to the maximum. Predictive maintenance will improve the availability of equipment, produce fewer losses and reduce the expense of replacing parts, stopping machinery to repair the asset, etc.
Reach your company’s digital maturity with Nexus Integra
Nexus Integra is the integrated operations platform that will allow you to drive the digital transformation of your business.
You will be able to connect all your assets and information systems, processing them through Big Data technology, obtaining a single operations framework for monitoring, management and analysis. In addition, with Nexus Integra you will be able to carry out an effective and automated maintenance strategy, which will allow you to considerably extend the life of your assets, increasing the rate of production without interruptions or reprocessing.
Contact the Nexus Integra team to digitise your company and achieve operational excellence in your business.
