Having the right machinery and equipment can make or break a business. That’s why it’s so important to regularly inspect and maintain these assets.

Machines empower employees to shift their focus to more strategic or creative endeavors by automating mundane tasks. They can also ensure that a company adheres to strict quality standards and industry regulations.

Industrial Assets

Machinery and equipment are assets that can be grouped together under the category of industrial property. This is a broad category that includes everything from a luxury car dealer’s showroom to an EV charging station manufacturing plant. This type of real estate is typically heavier-duty and requires a greater amount of maintenance than commercial property.

These types of properties are used to store, ship and distribute products. They include distribution warehouses, general warehouses and truck terminals. Distribution warehouses are primarily designed to hold goods before shipping them out, while general and truck terminals mainly house trucks and trailers. One of the primary benefits of industrial asset management in manufacturing is minimizing downtime and production delays. This is achieved through the careful evaluation, planning and implementation of maintenance schedules for all machinery & equipment. This reduces costs in several ways, including reduced labor and materials costs. The process also helps ensure regulatory compliance. Lastly, it improves the overall efficiency of the facility.

Machine Tools

Machine tools are an essential component of manufacturing processes, transforming raw materials into complex components and parts across industries. Their precision and versatility have made them the backbone of industrialisation, allowing for rapid production with a high level of accuracy and quality.

They come in a wide range of forms, with each type tailored to specific functions and operations. Lathes, for example, are used for machining rotary parts by rotating the workpiece against a cutting tool. Planers are designed to cut flat and angular surfaces, while drill machines create holes in materials by exerting a force on the material.

Most modern machine tools are computerised, leveraging computer systems to automate and optimise the machining process. Their precision and accuracy are unmatched, making them ideal for use in critical applications where even small deviations could have costly consequences. They also allow for greater flexibility, enabling businesses to adjust production capacity as demand fluctuates. They can be further enhanced by integrating with smart manufacturing and IoT systems, providing real-time monitoring and predictive maintenance capabilities.

Chemical & Process Equipment

Chemical processing equipment includes machines that are used to turn raw materials into a variety of chemicals. The toxicity of these materials necessitates rigorous health and safety standards, and it is important to maintain this equipment so that they can continue to function safely.

Maintenance procedures can include cleaning, lubrication, and inspection. Performing these routine tasks will reduce the risk of corrosion and prolong equipment lifespans. Calibration is also essential for the proper operation of chemical equipment, especially in labs that deal with volatile substances or pressurised operations. Research in the field of industrial engineering has focused on developing techniques that can improve the reliability of chemical process equipment. One such technique is the use of a maintenance schedule based on risk assessment. This approach prioritizes maintenance activities by quantifying the risk of failure for each piece of equipment. It has been applied to long-term maintenance optimisation for a multipurpose chemical process plant, and it has demonstrated significant improvement in the expected reliability of the equipment.