Published 10-10-2024
Keywords
- Predictive Maintenance,
- Reducing Downtime,
- Manufacturing
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
How to Cite
Abstract
There is evidence that there continues to be an ongoing revitalization of American manufacturing. Still, the U.S. appears to have lost a significant part in the global market related to products with thinner profit margins (staple products). While producing a larger amount of staples often leads to increased profits, it tends to lead to decreased profit per unit. Cutting corners in staple production, however, adds an even greater cost. Because of the lower profit margin for each part, the greatest cost in making these products is often downtime to repair or maintain aging machinery, rather than the cost of equipment failure itself. Given that American companies may never be able to compete on price alone for large runs of standard products, this essay focuses on some ways to reduce the downtime involved in fixing and maintaining aging machinery.
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