Assessing the impact of business model for predictive maintenance scenarios using multimethod simulation: a case study of centrifugal compressor.
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The oil and gas industry is an industry with complex and expensive equipment. Downtime from equipment failures can cost companies millions of NOK each day and pose a significant risk to employee safety. Through maintenance and replacement of parts before they fail, companies can ensure that the operation of assets remains safe, efficient, and uninterrupted. This approach can have a decisive effect when it comes to preventing catastrophic failure, costly downtime, and damage to machinery.
Master's thesis in Industrial Economics