Knowledge Management Improving Assets Failure Rate

This Manufacturing Insights Perspective discusses the impact of knowledge management practices on the failure rate of capital assets.

The financial crisis and economic uncertainty drive companies to put great emphasis on maximizing the utilization and value of their manufacturing assets. Manufacturers put plans to modernize or expand existing fixed assets on hold and, instead, scrutinize their fixed asset portfolio and seek to decommission underperforming holdings, while increasing the utilization of the better-performing assets. Asset owners now pay more attention to equipment operation, maintenance, and life-extending practices.