A Smart Solution to Maintain your Equipment!
Do you know that you can lose up to $50 billion annually, if you follow inadequate maintenance strategies? You can also improve overall plant capacity utilization by 5% to 20% by ensuring that the maintenance strategies that you follow are appropriate. This is critical for minimizing opportunity costs and staying ahead of your competitors!
A lot of organizations tend to rely heavily on traditional maintenance strategies like breakdown maintenance and preventive maintenance, both of which are proving to be ineffective in the present scenario. Breakdown maintenance is associated with unplanned downtime, which is very expensive and leads to huge opportunity costs, whereas preventive maintenance is associated with increased replacement costs over time, coupled with an increase in the number of times of maintenance and disruption to operations.
Predictive maintenance, on the other hand, can offer organizations the potential to strike a balance between opportunity costs due to downtime and excessive repair costs owing to early repair, by predicting potential equipment failures, well in advance, by leveraging advanced predictive analytics and statistical techniques.
Unsure of whether your current equipment maintenance strategy is effective or not? We are here to help you! Download our whitepaper on predictive maintenance below, in order to know more.
Download this whitepaper as a PDF