Unexpected downtime due to equipment failure is one of the biggest concerns for the managers of the factory floors.
Can you guess how much cost an average business enterprise has to pay for single Hour of machine downtime? It is $100,000 – vouched by 98% of the enterprises surveyed ( Citation: ITIC’s 2017 Reliability and Hourly Cost of Downtime Trends Survey).
Most of this unplanned downtime, especially in the manufacturing industry, occurs due to undetected equipment failure.
Thus for business enterprises, preventing equipment failure and reducing unplanned machine downtime  is significant in order to safeguard the bottom-line.
Such a preventive approach can be enabled by anticipating the equipment failure and avoiding costly repairs.
It is the Industrial IoT (IIoT) powered Predictive Maintenance solution that is helping enterprises to switch from reactive to preventive approach.
Let’s find out more about a Predictive Maintenance (PdM) solution.
What Does the Term Predictive Maintenance Mean?
Predictive Maintenance helps enterprises to pre-determine and fix any potential equipment failures.
An IoT-enabled Predictive Maintenance system leverages the best of embedded software/hardware, cloud computing technology and Predictive analytics tools to:
- Perform 24/7 condition-based monitoring of your industrial assets
- Report any anomaly in the equipment behaviour
- Apply Machine Learning techniques to analyse the root cause of the failure
- Aid the maintenance team to schedule equipment maintenance, proactively
Why a Predictive Maintenance Solution a Value-Add for your Business?
Business in the manufacturing sector can leverage the following benefits of the IoT-powered Predictive Maintenance solution, in order to gain competitive advantage:
- Enhanced System Reliability
- Reduced machine Downtime
- Keeps Your Capital-Intensive Assets Up and Running
- Minimize the production hours required for maintenance
- Reduce instances of Costly Maintenance and Repairs
What to Expect in this Video:
Watch the video to understand how Predictive Maintenance solution works. This is explained with the help of a simple use-case. The video also offers answers to some relevant questions such as :
* What is the technology stack, behind-the-scenes, of a Predictive Maintenance system?
* How does Predictive Maintenance Technology add value to Industry 4.0?
Watch the Video Here:
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