Finances Associated with Implementation of Condition Monitoring System and Its Payback Duration
Journal Title: International Journal of Modern Research In Engineering & Management. - Year 2019, Vol 2, Issue 4
Abstract
Most manufacturers are facing a push on cost due to few factors. These tough times on our economy plus global recession has cornered the manufacturers in either reducing the quality of product or in some cases reduction in some services. The impact of this is highly observed in markets like ours where we already have to face cost deviations and sudden cost jumps in industrial utilities such as, (gas, electricity, oil) and even the availability at times is hard to maintain which increases cycle time, down time thus inducing extra labor cost and co-related increases, so in order to compete internationally we need to use advanced systems which reduces costs rather than cutting back on things. Condition based monitoring have achieved greater acceptance over the years but the actual returns and payback is not understood clearly which puts the idea and adoptability at doubts this research work has marked the importance of understanding need, benefits and payback of the implementation cost of condition-based monitoring system including buying the equipment Vibxpert 2. This work is based in manufacturing organization and after calculating all the costs which were incurred in implementing conditionbased monitoring. It was found that in 5 years and 2 months the cost of implementing condition-based monitoring will be paid off.
Authors and Affiliations
Engr. Sajid Nawaz Khan
Keywords
Related Articles
- EP ID EP647493
- DOI -
- Views 119
- Downloads 0
Effects Of 600 Microns Particles of Eggshell on Tensile Strength of Zinc-Aluminum (ZA27) Alloy
The study investigates the effects of eggshell particulate and particulate sizes on tenstile strength of ZA27 MMC where eggshell served as particulate reinforcement. ZA27 MMC was produced by melting and casting ZA27 allo...
Thermodynamic Analysis of Solar assisted vapour absorption air conditioning System
In This study thermodynamic modeling is presented for an air conditioning system by using waste heat of CNG station, also assisted by solar collector. The continuous compression of Natural gas at CNG station results huge...
Modelling and Simulation of Shell and Tube Heat Exchanger Using different Types of Fluids
The shell and tube type of heat exchanger module is to be used for simulation study of various fluid systems on rate of heat transfer. The ionic fluids are used to see the difference in outlet temperature of fluid as com...
Analysis of eggshell powder as a partial replacing material in concrete
In this research, eggshell powder (ESP) was used as a partial substitute for cement in concrete to decrease the usage of cement in concrete production. The main objective of the study was to determine the workability and...
Management Theories in Modern World
management theory is a collection of ideas which set forth general rules on how to manage a business or organization. Management theory addresses how managers and supervisors relate to their organizations in the knowledg...