What is Smart Predictive Maintenance and What Makes it Smart?
Predictive maintenance (PdM) is maintenance that monitors the performance and condition of equipment during a routine operation to reduce the probability of failures. Also known as condition-based maintenance, predictive maintenance has been utilized in the industrial sector since the 1990s.
Ideally, predictive maintenance allows the maintenance frequency to be as low as possible to prevent unplanned reactive maintenance, without incurring costs associated with doing excessive preventive maintenance.
How Does Predictive Maintenance (PdM) Work?
Predictive maintenance uses historical and real-time data from different parts of the operation to anticipate failures before they materialize. There are three main areas of the system that factor into predictive maintenance:
- The real-time asset monitoring of condition and performance
- The analysis of work order data
- Benchmarking MRO inventory usage
There are several critical factors to predictive maintenance with technology and software being one of these crucial pieces. For example, the Internet of Things (IoT) and integrated systems empower different assets and systems to connect, collaborate and share, analyze, and utilize data.
Deep Diving into Maintenance Operation Framework – Fundamental to Advanced
A comprehensive maintenance program includes an integrated set of people, process, tools and technology elements. By employing advanced accelerators and enablers, we can augment, rather than replace, programmatic elements. It allows better robust and rapid leveraging of information to facilitate step-function improvement.
Smart Predictive Maintenance: Unlocking Value
By employing the integrated approach of maintenance performance, Smart predictive maintenance can capitalize on the hidden value potential which is left on the table with traditional maintenance.
It’s Time! – Why You Should Deploy it Now?
Predictive Maintenance (PdM) has been around in the industry for years, but the reduced cost and advanced analytical capabilities have made it worth pursuing now. Collecting, storing and processing large IoT data used to be a deal-breaker considering the cost associated with it, but presently, the advanced Industrial IoT has unlocked immense data-driven operational decisions, saving high operational costs.
Modern technological advancement like IoT, artificial intelligence, Big Data, cloud computing, NLP, Machine learning has far surpassed the traditional spreadsheets, graphs and methods utilised in earlier maintenance practices. According to one Harvard Business Review study, the early adopters of IoT has seen 58% improvement in their internal collaboration.
Where is the Money – Benefits Derived from Smart Predictive Maintenance
Smart predictive maintenance drives real values that can be achieved in weeks instead of months or years.
Augmented Benefits of Smart Predictive Maintenance
- Enhanced customer experience with the improved ability of timely delivery or to deploy smarter MRO aftercare service
- Better forecasting of planned shutdowns with fewer panic situations and increased wrench time
- Enhanced spares planning and inventory optimization
- Reduced buffer WIP due to increased reliability
- Lower spend on expediting parts
- Lower OEM spends
- Better and effective resource management, with less unplanned overtime
- Improved safety and sustainability