Keeping your assets and equipment running at peak performance is critical to any organization. In today’s world, asset and equipment breakdown and failures still occur. It is essential for companies to have a process in place to track all of their assets and equipment that are prone to failures in order to maximize uptime and keep disruptions at a minimum.
With the proper management of failures, you can reduce the negative impact to your organization. To help you manage these failures, there are a number of important metrics that have been put in place to help you monitor these failures.
Some of the industry’s most commonly tracked metrics are MTTR (mean time to repair), MTBF (mean time before failure), and MTTF (mean time to failure). We’ll discuss what each of those acronyms means and how you can use them to improve your operations. Read more…