Due to the coronavirus pandemic, we are hearing much about repurposing of assets and businesses altering their usual production to fulfil an urgent need in the community. The Asset Management Council has published on our website a number of posts (click here and here for just two examples) that highlight fluidity in assets, as well as the ingenuity from leadership to quickly respond and adapt their business function.
These are good news stories. And something we need to hear about at this time. But what pressure might this be placing on the asset itself, particularly if the volume of production is increased exponentially.
It is true that many engineering assets can be used for a variety of applications. But it is also true that assets can have hidden failures. As the name suggests, the failure of the part, or the asset itself, is not evident to the operator and, in some cases, such a failure does not even stop operation. Hidden failures can lie dormant and only reveal themselves when the asset is put under undue or excessive pressure.
Engineering assets are fit-for-purpose, and our members will know of the criticality for organisations perform regular, planned asset maintenance procedures in order to remain so. In this time, when you may be considering altering your business’s core function to respond to a need arising from COVID-19, it is crucial to remember that tangible assets still require rigorous maintenance procedures. Even more so, perhaps, especially if you are producing vast quantities. Let’s remember the value of assets, and effective asset management builds greater value for your business.
Let us know what your business is doing. We’d love to hear from you and highlight your good news stories throughout lock-down. Get in contact today by emailing communications@amcouncil.com.au