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In the world of business you will be aware of the fact that all system or equipment is prone to failure at some point of time. Such failures can lead to loss in productivity and revenue for any business. Failed equipment can also raise safety issues for your employees and in worst situations lead to a catastrophe. In such an event it becomes important to identify the reasons for the equipment’s failure and take corrective measures to prevent future failures. This demands a well-organized study into the reasons for failure and putting them through tried and tested method of analysis. Experts then come out with what we known as Failure Analysis Reports. Breakdown Analysis is one of the methods that are applied to study the reasons for the breakdown of the system of equipment. In this kind of study experts take into account even the smallest of factors that could have led to the failure. The result of such an analysis is that it allows the experts to pinpoint of on the exact reasons for the failure and gives the business actionable intelligence on cause of the failure and how to control and finally eliminate the cause of the failure. This analysis also uses an appropriate time series method to forecast failure of an equipment or system that helps businesses stay prepared for all eventualities. Along with the Breakdown Analysis, Weibull Analysis is another tried and tested method that is used for the study of failure. Here historical failures and repair data are matched on appropriate Weibull distributions and gives businesses a well-defined formula that helps in preventing failures in the future. One of the highlights of Weibull distributions is that the distributions offer you insights into the failure or repair characteristics of equipment or system. Thus you can foresee the failure of the equipment or system which gives you a strong chance of negating it. Failure Analysis Reports play a vital role in helping you identify the reasons for the failure of equipment and preventing it in the future. This analysis should be handled by an expert consulting company.
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Failure Analysis Reports, Breakdown Analysis, Weibull Analysis,
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