Predictive maintenance, an emerging trend in the manufacturing industry, is helping companies cut down on machine downtime and pinpoint solutions to repairs. By utilizing data collection through the IoT (Internet of Things), companies decide which metrics they want the machine to report on. From there, they can gather predictive intelligence and real-time reports regarding system failures and when maintenance will be needed in the future. Usually, these monitoring tests run while machines are operating, saving time and money by avoiding shutdowns.

The numbers 

• • According to Information Technology Intelligence Consulting, 98% of organizations say a single hour of downtime costs over $100,000.
  • McKinsey & Company reports that adopting maintenance technologies, such as IoT, will help reduce maintenance costs by 20% and reduce unplanned outages by 50%.
  • Asset productivity can increase by as much as 20%, reports McKinsey & Company. 
  • McKenzie & Company also says “…10-20% reduced waste: Sub-optimal operation that is not detected, can result in wasteful production. Raw material, energy, labor costs and machine time get wasted in such instances. Predictive maintenance systems can uncover issues that can result in waste before they arise.”

How to begin implementation

Hitachi Solutions offers six tips to help you and your manufacturing organization get started using predictive maintenance programs:

1. 1. Small, early pilot programs
   2. A technology suite for aggregating data 
   3. Algorithms to monitor patterns and events in real-time
   4. Effective workflows
   5. Service management 
   6. A change management agreement  

To learn more, check out our courses covering predictive maintenance and how to implement and operate a program. For more information, make sure to review our courses covering IoT and other ways it can benefit your business.

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