With the government’s aim to make India the next manufacturing hub by 2020, it is imperative for us implement world class maintenance within the organisation so that we can excel in production output and serve on time operational excellence. The Economic Times World Class Maintenance Summit 2018 aims to bring forth the members of the industry to talk and deliberate on the challenges that the sector faces with new and innovative ideas that will enable and boost plant performance and reduce maintenance and operations costs. This gathering shall not just address the challenges and issues, but also offer practical thesis and workshops that will help you take back some learnings that could be applied in your day to day activities.
The Growing Importance of Maintenance is due to:
- Performing any work during a turnaround cost 250 – 350% more than when we perform the same work otherwise.
- Only 22% of the managers are satisfied with their maintenance programs.
- Regardless of the production & price, maintenance, reliability & safety are aspects that constantly need to be addressed.
- Reliability & Maintenance have gained a lot of importance in lieu of the current market conditions to ensure that the downtime is minimised, and the productivity graph is on a constant rise.
- 40% of the time the top management is not aware of the economic benefits of a robust reliability & maintenance program and the need to invest in it
- In the current challenging scenario, the need to lower the production and maintenance costs is even more, something that this summit will address
With a market of more than a billion consumers and ever-increasing purchasing power, Indian consumer market is at a boom. This coupled with the Government’s ‘Make in India’ initiative, India is Currently the sixth largest manufacturing nation and the biggest recipient of foreign direct investments (FDIs), with inflows touching $60 billion in 2016-17 and set to reach $100 billion by 2022. However, to keep up with the competition and manage the demand and supply to the ever-increasing market, it is a must for organisations to avoid unscheduled downtime. Lower revenues due to lower commodity prices have placed equipment life-cycle costs under the management spotlight like never before. The Major challenges these days is adhered to the most stringent safety standards with reduced cost for maintenance and keeping the production line up and running. Maintainers are faced with the challenge to deliver the same levels of equipment safety, reliability and availability with smaller budgets.
The government has announced the rollout of a new manufacturing policy to push its share to 25% of GDP by consolidating ‘Make in India’ and embracing Industry 4.0. These policies will help incentivise adoption of digital technologies, develop the requisite digital ecosystem, augment competitiveness, while meeting the requisite skill gaps. This change can be facilitated by a huge increase in the number and variety of physical assets (plant, equipment and buildings) with much more complex designs and lastly the adoption of new maintenance techniques.
The Economic Times – 2nd Annual World Class Maintenance Summit is designed to bring together leading operators to share best-practice and techniques for efficient maintenance and equipment reliability. The program will include multiple case studies from mega manufacturing plants from India and Internationally, address critical issues in equipment monitoring, Maintenance planning, scheduling, on time logistics, execution and manpower as well as cost and time effective methods.