End-of-Life Planning for Equipment Is Crucial for Keeping the Plant up and Running
Over 80% of process manufacturers acknowledged the use of electrical and automation equipment beyond the manufacturer's obsolescence date, according to a study from one of the leading research group of Industry Automation segment. In the same study, 58% of users acknowledge having no formal plan for managing the lifecycle of their equipment. Production facilities that continue to operate aging equipment without a plan for addressing and managing end-of-life systems face a variety of risks that threaten to drastically increase downtime & maintenance cost and decrease profitability. So it crucial of keeping your legacy system unaffected due to obsolescence from the manufacturers. Therefore, the availability of emergency spare parts & services need to be extended beyond the end of life cycle while your control systems installations are the backbone of your critical plant & machine operation. A Spare part management strategy should involve a process ...