GMS 401 Lecture 3: the strategic importance of maintenance and reliabity

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Payman Ahi

Document Summary

Lecture 3: chapter 3&6 strategic importance maintenance and reliability. The (cid:373)ai(cid:374) o(cid:271)je(cid:272)ti(cid:448)e of (cid:373)ai(cid:374)te(cid:374)a(cid:374)(cid:272)e a(cid:374)d relia(cid:271)ility is to (cid:373)ai(cid:374)tai(cid:374) the (cid:272)apa(cid:271)ility of the (cid:862)syste(cid:373)(cid:863) Systems should be designed and maintained to reach expected performance and quality standards. Good maintenance removes variability (i. e. variability corrupts processes and creates wastes) Maintenance is all the activities involved in keeping a systems equipment in working order. Reliability is the probability that a machine, part, or product or system will function properly for a specified time under a stated condition. The term failure regards situations in which a machine, part, product or system does not perform its function. Possible implications in result from system failures include: reputation, profitability/profits becoming losses, dissatisfied customers, reduced value of investment in plant and equipment. Disastrous consequences of system failure include: safety hazards, possibly damaging the environment, causing injury or death to employees, customers or surrounding residents. Reliability improvements can be made using a proper preventive maintenance.