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In today’s high-tech era, mechanical equipment plays an increasingly important role in production activities; therefore, scientific management of such equipment is particularly crucial. Equipment management is based on the production and operation objectives of an enterprise; it employs various organizational, technical, and economic measures to manage equipment throughout its entire life cycle – from planning, acquisition, installation, use, renovation, and upgrading to eventual disposal – in order to improve its overall economic efficiency. Throughout this entire cycle, management is primarily reflected in two aspects. The first is the management of the physical form of the equipment, that is, the physical management of the equipment from the time it is purchased, through installation, commissioning, acceptance, registration, use, maintenance, repair, replacement, and eventual disposal (also known as technical management) ； Another aspect is the value-oriented approach to equipment management, which involves managing various costs that arise throughout the device’s lifespan. When a device is purchased, installed, and put into use, there is an initial investment cost. During its use, in order to maximize its efficiency, additional costs are incurred for training on how to use the device, maintenance, repairs, and upgrades. When the device reaches the end of its useful life, there are also costs associated with its disposal; moreover, for devices that pose environmental risks, costs for addressing those environmental issues are required. It is important to compare these costs with the value that the device can generate. The ultimate goal of equipment management is to achieve the highest possible value at the lowest possible cost ； And these two aspects complement each other. Based on the analysis above, we must consider from the highest level of an industry how to create infinite value with limited equipment; this is the ultimate goal of our company’s equipment management. To achieve this goal, we implement comprehensive management of equipment. Based on equipment maintenance, and with the aim of improving the technical level of equipment management and achieving good economic benefits, this approach addresses a range of new issues arising from the use of modern equipment. It builds upon the achievements of equipment engineering and comprehensive equipment engineering, draws on modern management theories—particularly management theory and decision-making theory—and integrates the latest advancements in modern science and technology to create a new type of equipment management system. Specifically, it includes the following aspects: First, implement full-life-cycle management of equipment to ensure and improve its reliability, maintainability, and cost-effectiveness, while achieving safety, energy savings, and environmental protection, as well as avoiding inventory buildup and waste. Breaking free from the narrow scope of maintenance imposed by traditional equipment management systems, it undertakes comprehensive management of the equipment’s entire life cycle in order to achieve the best economic benefits over that lifetime. II. Achieving optimal efficiency of equipment – This is the ultimate goal of equipment management. The life-cycle cost of equipment represents the total cost over its entire lifespan, and it serves as an economic indicator corresponding to the physical movement of the equipment. It is required that in the evaluation of options for equipment management decisions, optimization of the equipment’s life-cycle costs should be pursued, rather than focusing solely on the economics of a single phase (purchasing, maintenance, and repair). On this basis, it is also required that the overall efficiency of the equipment be as high as possible. III. Carrying out equipment management tasks Equipment management is an important aspect of company management, and all its activities must, without exception, serve to implement the company’s business policies. Thus, the relationship between equipment management and the company’s business policies is as follows: the company’s business policies determine the direction of equipment management, its main aspects, as well as the technical and economic outcomes ； Equipment management, on the other hand, provides material, technical, and economic guarantees for implementing the company’s business policies. To meet the ever-changing demands of the market, the equipment department promptly provides various technologies and equipment necessary for production, ensuring that the company maintains sufficient competitiveness for its sustainable development. IV. Conduct comprehensive research on equipment management: To keep up with the constantly evolving aspects of science and technology as well as management concepts, it is necessary to carry out comprehensive research on the engineering techniques, financial and economic considerations, and organizational measures related to equipment. Mastering knowledge in these three areas is an intellectual prerequisite and a guarantee for managing modern equipment effectively. First is engineering technology: as the level of technological modernization of equipment continues to improve, more and more aspects of science and technology are reflected in such equipment. Therefore, we must constantly learn new scientific knowledge in order to be able to manage modern equipment effectively. Secondly, it is necessary to learn and master the financial and economic knowledge related to equipment, in order to improve the economic efficiency of equipment management, including striving for the most economical costs over the equipment’s life cycle ； Economic analysis of equipment selection ； The economic standard for fair use ； The economic threshold for preventive inspections and repairs, etc. Thirdly, it is necessary to improve equipment management and also master modern management knowledge, as modern equipment management essentially involves the combination of modern management theories, methods, and technological achievements with modern equipment. V. Strengthening equipment maintenance work: The comprehensive management of equipment breaks away from the traditional approach that confines equipment management to maintenance tasks. However, this in no way undermines the importance of equipment maintenance; on the contrary, it is necessary to further improve maintenance efforts and treat them as a key aspect of equipment management. The principles of comprehensive management should be used to guide and enhance these maintenance activities. VI. Implementation of TPM activities: Currently, TPM management – that is, Total Productive Maintenance – is highly regarded in the industry. It is a system for equipment management and maintenance that was developed in Japan by building on American production maintenance practices and integrating them with Japanese management traditions; it centers around PM activities and is based on the 5S practices. Total production maintenance refers to a device inspection and maintenance system in which all employees are involved in the management, aiming to improve equipment efficiency by establishing a production maintenance system that covers the entire life cycle of the equipment. In summary, to carry out equipment management and systematically oversee devices, the management process ranges from the selection and evaluation of devices to their renovation, upgrading, and disposal. It is briefly described as follows: 1. The selection and evaluation of devices involve three main aspects: 1. Device selection ； Types of equipment to choose from, factors influencing equipment selection, key points for equipment selection. 2. Investment evaluation of equipment ； The payback period method, cost-effectiveness method, and cost-equivalence method are used to evaluate the advantages of equipment. 3. Evaluation of equipment usage ； Usage evaluation ； Evaluation of maintenance costs. II. Management of Equipment Installation and Use 1. Equipment acceptance ； Acceptance of ordered equipment, acceptance of equipment after major repairs. 2. Equipment installation ； The procedures for equipment installation, the methods of equipment installation, the detection and adjustment of the installation location of the equipment, the trial operation of the equipment, and the handover of the equipment for use. 3. Use of the equipment ； Preparations before using the equipment, procedures for using the equipment, key points for using the equipment. 4. Equipment usage management system ； The system of \"fixed assignment for equipment\" (assigning numbers to equipment, designating responsible persons for management, and assigning specific individuals for storage), the system of designated responsibilities for each position, the inspection system, the shift handover system, the safety production management system, and the three-level maintenance system. 3. The inspection and maintenance of equipment include the following three aspects: 1. Inspection of equipment ； Pre-startup inspections, routine patrol inspections, and random checks by management personnel. 2. Equipment maintenance ； Determine the principles for equipment maintenance, outline the contents of equipment maintenance, establish the levels of equipment maintenance, and identify the key areas for equipment maintenance. Lubrication of 3 devices ； Selection of lubricating materials, methods of equipment lubrication, and establishment of a management system for equipment lubrication. IV. Six aspects of equipment maintenance 1. Patterns of equipment wear and failure ； Identify the types of equipment wear, determine the patterns of such wear, and summarize the patterns of equipment failures. 2. Types and techniques of equipment repair ； Classify the types of equipment repair, establish a system for equipment repair, and summarize the methods and techniques used in equipment repair. 3. Equipment repair complexity coefficient and quota ； Determine the complexity coefficient for equipment repair, establish the standard repair cycle time for equipment, determine the standard labor hours required for equipment repair, set the standard downtime associated with equipment repair, fix the standard costs associated with equipment repair, and determine the standard consumption of materials needed for equipment repair. 4. Preparation of equipment repair plans ； Annual equipment repair plan, quarterly equipment repair plan, monthly equipment repair plan, annual major repair plan. 5. Implementation of equipment repair ； Inspection before repair, preparation of repair materials, organization and implementation of equipment repair, and quality management of equipment repair. 6. Management of equipment repair spare parts ； Identification of spare parts, classification of spare parts, contents of spare part management, work process for spare part management, reserve of spare parts, control of spare part inventory, ABC classification management of spare parts. 5. There are four aspects to the fault management of equipment: 1. The forms and patterns of equipment failures ； Classify the types of fault forms and patterns, analyze their impact on equipment, and discuss preventive measures. 2. Types of equipment failures and criteria for identification ； Distinguish types, classify levels, identify causes, and establish judgment criteria. 3. Detection of equipment failures ； Analyze the characteristics of the equipment’s operating status to determine the detection method. 4. Prevention of equipment failures ； Analyze the test results to eliminate faults at their root cause.