Study on Equipment Failure and Loss Estimation through Taguchi Method with Risk Management
L.Savadamuthu1, S.Muthu2, S.Gunasekharan3
1Savadamuthu.L, Department of Mechanical Engineering, SNS College of  Technology, Coimbatore, India.
2Dr. Muthu.S, Principal, Sri Vidhya College of Engineering and Technology, Virudhunagar, India.
3Gunasekharan.S, Department of Mechanical Engineering, SNS College of Technology, Coimbatore, India.
Manuscript received on January 17, 2012. | Revised Manuscript received on February 05, 2012. | Manuscript published on February 29, 2012. | PP: 174-182 | Volume-1 Issue-3, February 2012. | Retrieval Number: C0216021312/2011©BEIESP

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Abstract: In the highly competitive business environment, manufacturing organizations are seeking new strategies to improve the quality of product reduce product cost, eliminate loss producing events and reduce wastage arising out of manufacturing system, and the cited subjects are aggressively discussed in the present days. Processing equipments are playing important role in achieving the high quality product and productivity in manufacturing organizations. The equipment failures may occur on various accounts during the manufacturing process. The cost of special and sophisticated manufacturing equipment are high and their idle time or down time becomes more expensive. Hence the effective maintenance system is most important for better utilization of resources. A case study has been taken up from preventive maintenance department at M/s Premier Instruments and Control Limited (PRICOL) to develop effective maintenance system. One of the risk management techniques has been used to predict the probability of occurrence and severity of failure events for prioritizing the risk. In identifying the root causes of the failure, the common tools like fault tree analysis is made use of. The losses due to risks are computed using Tauguchi method. Further evaluated and risk control measures like reduction, risk avoidance, risk transfer and risk retention are effected on critical failure events.
Keywords: Failures, FTA, Risk Management, Taguchi Loss Function.