Embedding Risk in Total Productive Maintenance Model

Abstract This study highlights the significance of integrating risk considerations into Total Productive Maintenance (TPM) practices to enhance machine performance reliability and maintenance. While TPM is acknowledged for its effectiveness in addressing various issues, current methodologies lack a theoretical foundation that incorporates risk into the Overall Equipment Effectiveness (OEE), a key performance indicator. Identifying this gap, the research introduces a novel approach to embed risk into OEE, particularly focusing on economic risks associated with breakdown failures. Real machine failure data from the meat industry are utilized to estimate reliability parameters and coefficients for loss value estimation. The proposed risk-based OEE framework is compared with traditional approaches, demonstrating its versatility across manufacturing sectors. By incorporating economic risk into TPM, decision-makers gain insights into the financial implications of breakdown failures, facilitating informed decision-making in asset management and enhancing overall risk management within the TPM framework.