IMPROVE mapped on
Economic sustainability

General desciption of Economic sustainability:

Economic sustainability is the component of sustainability where the focus is on commercial competitiveness and the ability to do be successful from the business perspective.

Relevant:

Comment:

Unpredicted breakdowns of a plant are often very costly as production stops. The fault has to be identified and spare parts have to be ordered and installed before the production can continue. Condition monitoring can be used to detect wear and therefore schedule maintenance before a complete failure. In case of breakdown a root cause analysis can aid the experts in finding the error cause. Both of these approaches can decrease downtimes significantly and decrease costs.