Predictive Maintenance – how to prevent outages and failures?

By June 6, 2019 Artificial Intelligence
predictive_maintenance

Cost efficiency rules the world – that’s a fact. Companies in sectors such as manufacturing, medical, oil, and gas, energy and utilities, telecoms, distribution, logistics, and transport, etc. try to reduce the costs however they can by preventing failures and outages actively. As we all know, there are some incidents that cannot be predicted and you just can’t avoid losing money. Or maybe you can?

First, let’s look at some numbers. According to a study conducted by Vanson Bourne of GE Digital, After The Fall: Cost, Causes and Consequences of Unplanned Downtime:

82

of companies have experienced unexcpected downtime over the past 3 years

70
are unaware of equipment assets due for maintenance or an upgrade
260
per hour – the average cost of unplanned downtime
1
that’s the cost of an average downtime of 4 hours

How can you avoid these situations?

There are 3 main practices when it comes to maintenance:

  Reactive maintenance: conducted when an issue arises. It means accepting the risks and performing forced maintenance when it’s a necessity. Also, reactive maintenance means exposing equipment for malfunctions and its consequences.

  Planned maintenance: maintenance completed at scheduled, regular intervals. This practice is wasteful and you cannot predict malfunctions that happen between the intervals.

  Predictive maintenance: preservation is conducted to prevent the problem before it occurs, based on a prediction analysis. If conducted correctly, predictive maintenance allows maximum efficiency and minimum downtime. Looks like we have a winner here!

Implementing the correct predictive maintenance model is not an easy feat. In our upcoming article, we will guide you through this process. Stay tuned – follow us on LinkedIn and sign up for our newsletter. We’ll keep you posted!