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Measure the ‘Size of the Prize’ via Asset Reliability

Work product focuses on relationship between overall equipment effectiveness and three key performance indicators for asset reliability: people, operating, and financial.

This graphic provides a more traditional continuous improvement model regarding the asset reliability journey. It is important to note the critical value of engaging stakeholders from all relevant functions.
This graphic provides a more traditional continuous improvement model regarding the asset reliability journey. It is important to note the critical value of engaging stakeholders from all relevant functions.

Asset reliability is the focus on planned and unplanned downtime reduction—or, put another way, “Is the machine doing what it is supposed to do, when it is supposed to do it?”

The OpX Leadership Network, in conjunction with PMMI, The Association for Packaging and Processing Technologies, and the FSO Institute, recently released a work product called “Asset Reliability Roadmap for the Consumer Products Industry,” created to assist with calculating asset reliability and improving communications between CPGs and OEMs during this process.

The work product focuses on the relationship between overall equipment effectiveness (OEE) and three key performance indicators (KPIs) for asset reliability: people, operating, and financial. It provides an asset reliability “roadmap,” as well as a calculator, to help quantify the total value of asset reliability to an organization by determining missed opportunities, in addition to the potential value gained by improving the reliability of a line and reducing unplanned downtime.

As the report states, seeing maintenance as more than just a cost of doing business but rather a tool in meeting desired and expected performance in the asset and financial expectations is key to seeing positive and effective results in profitability and requires ownership from all levels in an organization.

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