10 Maintenance Statistics That Drive Your KPI Selection
All the best-in-class companies use KPIs to understand the direction of the business – for good or for worse - and to facilitate optimum decision-making.
Maintenance departments are no different.
As a strategic activity, maintenance helps align an organization’s objectives with its broader business goals. KPIs provide a way to measure the success of your company’s maintenance performance in achieving those goals.
Five of the most common KPIs or maintenance performance indicators are:
Maintenance Statistics
Let's delve into maintenance statistics sourced from industrial surveys. This serves as a valuable starting point to establish a connection between the performance of maintenance management and the metrics acquired for informative purposes. Presented here are ten maintenance statistics aligned with five pivotal KPIs.
KPI = Work Order Cycle Time
1. Almost 37% of maintenance managers say their biggest challenge is getting people to use the CMMS properly (Add Energy 2022).
KPI = Maintenance Costs
2. 53% of companies spend more than 30 hours a week on maintenance?(Plant Engineering 2021).
3. 34.7% of maintenance managers say the biggest challenge is budget/resources?(Add Energy 2022).
4. 37.2% of maintenance managers say budget restraints have become more challenging over the last 5 years?(Add Energy 2022).
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KPI = Reactive Maintenance Work Hours
5. 8% of companies have a PM program in place?(Plant Engineering 2021).
6. 39.9% of maintenance managers say?equipment reliability?is their biggest challenge?(Add Energy 2022).
KPI = Unscheduled Down Time
7. Only 24% of companies surveyed use an RCM strategy?(Plant Engineering 2021).
8. 54% of maintenance managers say uptime is the most important measure?(Add Energy 2022).
KPI = Mean Time Between Failure (MTBF)
9. 67% of companies believe aging equipment is their key challenge for improving maintenance?(Plant Engineering 2021).
10. 57.5% of maintenance managers selected reliability as an important KPI?(Add Energy 2022).
The statistics above have shown that maintenance really needs to be measured.
When maintenance data is transformed into information, it becomes valuable, solid business intelligence. Swift insight into maintenance performance and KPIs is crucial for maintenance decision-makers and stakeholders, enabling them to gain a competitive advantage and change course quickly when required.
Gathering the data is a step, yet the real power lies in its utilization!
This article was originally published here: https://www.dynaway.com/blog/10-maintenance-statistics-that-drive-your-kpi-selection