Predictive maintenance is a need for every business, not a luxury. Predictive maintenance has recently gained popularity in several sectors, including manufacturing and the automotive industry. Proactive maintenance, which includes preventive and predictive measures, has emerged as a vital tenet of the Industrial 4.0 transformation with the rise of Internet of Things (IoT) technologies. While predictive maintenance can revolutionize a business, is it available for all businesses?
Benefits of Predictive Maintenance
Failure is likely to occur much earlier when maintenance and fixes are carried out as part of a successful predictive maintenance program. Highlighting problems that lead to inefficient device performance also aids in optimization. This makes it possible to perform targeted maintenance, which lowers the need for pointless inspections and repairs and enables early intervention to stop severe and complicated issues in the future.
lower expenses for maintenance
Reactive service calls after equipment breaks are, on average, three times more costly than proactive calls. That amounts to about $400 more per conversation on average. These savings are even more significant when using a predictive maintenance approach because it helps optimize the maintenance frequency. When appropriately used, predictive maintenance can almost wholly eradicate unforeseen reactive maintenance while lowering the price of preventive care.
increased frequency of regular maintenance
The machine learning (ML) technology behind predictive maintenance can improve regular maintenance tasks when given real-time data. This is accomplished by offering data-driven fault detection and diagnostics capabilities and a sophisticated and precise device performance evaluation. Revealing the problem’s underlying causes reduces technicians’ and contractors’ time to find and evaluate issues.
Prolonged asset life
The typical service life of facility machinery is increased by 30% using machine learning to identify machine and system issues early. Organizations reduce damages’ severity and defects’ spread after adopting a predictive maintenance strategy. This is because a problem with a cheap component could harm a crucial component, shortening the asset lifecycle.
Maintenance teams can spend less on equipment and services by preventing complicated machine breakdowns. Technicians and supervisors can also increase work productivity as they have more time to concentrate on crucial maintenance duties.
Maintenance managers no longer have to waste time poring over work order data analytics thanks to CMMS software that uses the internet of things (IoT) to access PdM sensors data.
Additionally, improving the conditions of the machinery lowers machine downtime, directly impacting the bottom line.
While no one can deny the gravity of predictive maintenance on a business, the model needs a severe overhaul. Most of the firms which need such technology for the long term can only afford it on a short time basis. Predictive maintenance is one of those solutions a business pays for with capex, and for most small businesses, it is a luxury they can’t afford. Keep in mind these businesses need predictive maintenance the most. There is an immense need to democratize predictive maintenance. Businesses deserve a fair shot at success.