In January 2020 our lives changed forever. Over the past few months, the coronavirus pandemic has proved to be a black swan event that has had a deep impact on our daily lives and the way we do business. While the war against COVID-19 has not yet ended, countries worldwide are moving on to the new normal.
Industries across the world are struggling to re-organize their strategies according to the new normal. The major questions facing managers now are how to conduct incident free start up, minimize breakdowns and economize operational cost.
4 Point Strategy for Success
For managers to achieve their goals in this new normal, following 4 points need to be kept in mind:
- Minimize losses with pre-emptive checks to ensure smooth operations
- Ensure compliance to avoid legal implications
- Focus on cost saving not cheap solutions
- Maximize gains with customized and innovative technology solutions
1. Minimize losses with pre-emptive checks to ensure smooth operations
The gas leak at the LG Polymers plant in Vishakapatnam, India in May has claimed at least 44 human lives and livestock while also leading to disruption of business and irrevocable financial losses. This tragic accident emphasizes the fact that as industries re-open, there is a need to go back to basics by ensuring electrical safety and reliability checks before starting full scale operations. As the Governor of New York has very aptly said “As we begin the process of “un-pausing”, restarting our economy and bringing our state into a new normal, our decisions and actions must be guided by science and facts, not politics or opinions.”
2. Ensure compliance to avoid legal implications
Governments around the world are preparing for the new normal with new rules, guidelines, compliance requirements. The National Green Tribunal (NGT) of India has imposed an interim fine of approximately $ 6.6 million (Rs 50 crore) on the owners of the chemical factory that faced the gas leak accident. It was noted that the incident appeared to be a result of “failure to comply” with rules and other statutory provisions. For SMART MANAGERS it is required to get ahead of these problems and ensure minimum disruption to ongoing activities
3. Focus on cost-saving not cheap solutions
It is essential that industry majors focus on opting for cost-effective electrical safety and reliability solutions that provide long-term worry-free operations instead of opting for cheap replacements. Cost effective solutions provide massive benefits with respect to operational cost, health of expensive assets, inventory cost and safety to human life comprehensively.
4. Maximize gains with customized and innovative technology solutions
Adopt customized solutions based on the latest advancements in technology and design. For example:
- Upgradation of Electrical earthing systems from conventional to organic maintenance free systems to achieve improvement in earthing system quality and reduced operational cost of maintenance
- Digital transformation using remote monitoring of Electrical safety systems – Smart monitoring of earthing will reduce manual checks and achieve pre-emptive corrections
The global impact of this pandemic will be felt for many months to come. The one who wins will be the one who is better prepared.
Manav Energy is the world’s leading end to end electrical safety and reliability solution provider. To know more write to us at firstname.lastname@example.org