Improving the Efficiency of Cost Management in Industrial Plants through the Implementation of Reliability Engineering Techniques

Abstract

Industrial facilities encounter increasing demand to enhance operating efficiency while minimizing expenses. A primary issue in attaining this equilibrium is the appropriate management of equipment dependability and maintenance operations. This research article analyzes the impact of reliability engineering methods on improving cost management performance in industrial facilities. Organizations may shift from reactive to proactive maintenance strategies by using methodologies such as Failure Modes and Effects Analysis (FMEA), Reliability-Centered Maintenance (RCM), and statistical reliability modeling. The paper includes a case analysis of a manufacturing facility, whereby the use of these strategies resulted in a significant enhancement of equipment availability and a marked decrease in unscheduled downtime and maintenance costs. The results indicate that integrating reliability engineering into plant operations enhances asset performance and yields quantifiable cost reductions, establishing it as an essential element of contemporary industrial cost management techniques.