By Kay Jenkins, Director, AssetPoint
Chemical manufacturers have invested heavily in their assets, which can be a significant portion of the
capital invested in a plant. The top two pressures often faced are maximizing the return on these assets (ROA) and managing and mitigating risk due to the failure of critical assets. Unscheduled asset downtime results in lower production efficiency and higher maintenance costs, directly impacting profitability. In the chemical industry, unscheduled downtime can also incur the costs of wasted product that must be disposed of when a production process halts and cannot be completed. Aberdeen Group has identified the following Key Performance Indicators (KPIs) of Best-in-Class companies.