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If this part is replaced hundreds of times per year, over the course of many years, then there may be an opportunity to save money by adjusting the repair process to leverage this economy of scale (reliability improvements, component repair, etc.). This analysis drives the maintenance support for each repairable unit analyzed.
Annualized failure rate – Probability that a device or component will fail during a year of use; Failure rate – Frequency with which an engineered system or component fails; Frames per stop – Term of reliability in the bowling industry; Mean time to first failure – Average service life for non-repairable components
Mean time to repair (MTTR) is a basic measure of the maintainability of repairable items. It represents the average time required to repair a failed component or device. [ 1 ] Expressed mathematically, it is the total corrective maintenance time for failures divided by the total number of corrective maintenance actions for failures during a ...
QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
A spare part, spare, service part, repair part, or replacement part, is an interchangeable part that is kept in an inventory and used for the repair or refurbishment of defective equipment/units. Spare parts are an important feature of logistics engineering and supply chain management , often comprising dedicated spare parts management systems.
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Maintenance personnel will formally "turn-in" unserviceable items for repair, receiving a funding credit in the process. These "turn-ins" will be fixed, reconditioned, or replaced. Maintenance personnel can also be issued repaired or new items back from inventory. These processes are assisted by automated logistics management systems.
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