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Finding Obsolescence Risk in Your Manufacturing Operations

Obsolescence occurs when a component is no longer available in the marketplace due to the original equipment manufacturer discontinuing its production. This can have significant impacts on manufacturing operations, as critical components within operating assets become unavailable. Left unchecked, obsolescence can extend downtime, strain maintenance resources, increase costs, and reduce profitability.

The risk of obsolescence becomes highly visible when companies do not have a plan to monitor parts availability, especially as assets age. To mitigate these risks, it is crucial to proactively monitor the availability of components, understand the criticality of each component, and plan for last-time buys or alternative solutions before components become obsolete. By doing so, manufacturers can maintain Overall Equipment Effectiveness (OEE) and minimize disruptions in their operations.