Innovative Maintenance Strategies: Balancing Costs and Enhancing Value

How can companies balance reducing costs and improving the value of maintenance activities?

Michiel van den Boomen: The industry is under pressure and budgets are restricted. So it is easy to see that we need to reduce maintenance costs because it is a major cost driver. But it is always important to have a value creation lens on maintenance.

Companies in the chemical industry are looking for ways to be more efficient in the use of new technologies, to reshape the way they develop asset strategies and to execute them at the lowest possible cost. But if you only do the latter and don't do the former, assets become increasingly vulnerable.

To avoid this risk, it is critical to redefine what value means to the business—whether it is improving asset availability, reducing risk or supporting broader goals such as sustainability.

How does Efeso help chemical companies define their maintenance strategy?

M. van den Boomen: We understand the role that asset care plays in the overall manufacturing process and bring a holistic view.

Our approach involves aligning stakeholders around a vision and strategy for the future state, and then implementing both short-term cost optimization and long-term capability development initiatives. This includes system and process optimization and the use of new technologies.

We do understand what is required for effective integration of these technologies into new ways of working. We support leaders and the workforce in adopting these changes.

This makes us a unique kind of holistic player that can integrate all of these facets in the short and long term in the domain of asset care.

What is the impact of new technologies on maintenance?

M. van den Boomen: When considering new technologies, it's crucial to address both the technical capabilities and the human factors involved.

We need to consider which technologies, such as predictive analytics, AI, and data analytics capabilities, to deploy in future asset care strategies. Leveraging new technologies helps reduce reliance on manual labor. Consider the use of mobile systems, mobile applications, and augmented reality tools—not only to increase the effectiveness of training, but also to reduce error rates during execution.

Then there's the human dynamic. Introducing new technologies into a maintenance organization can be a big change, especially in a conservative industry. Older workers may be intimidated and need support, while younger workers expect these technologies. They ask, 'Why are we still using paper? Why not use an iPad where I can enter data right into the system? They want to avoid the cumbersome process of handling paperwork and entering it later.

Efeso provides consultants who understand these challenges and can help facilitate the adoption of these technologies, ensuring a smooth transition for all employees.

Which companies benefit most from implementing value-based maintenance (VBM) and what results can they expect?

M. van den Boomen: Companies in all segments of the chemical industry, especially those with less mature operations and a significant need for improvement, benefit the most from adopting VBM. In particular, companies that have not yet deployed state-of-the-art technologies or reviewed their asset strategies and maintenance execution stand to gain the most. This includes companies facing significant cost pressures, such as those trying to remain competitive in Europe despite high energy costs.

For these companies, implementing VBM can lead to significant improvements in overall equipment effectiveness (OEE), with potential gains ranging from 8% to 30%. The range depends on the maturity of their operations—companies with already high OEE can see an increase of around 8%, while those with less mature processes can see gains of up to 30%. Typical results also include reduced unplanned maintenance, improved safety and better alignment of maintenance activities with long-term strategic goals.

 

Sponsored by