PdM Business Outcomes

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Predictive Maintenance - Business outcomes and benefits

Organisations need their critical equipment to be running at peak efficiency and utilization to realize the return on their capital asset investments. 

These assets could range from vehicle engines, turbines, elevators, or industrial chillers – that cost millions – down to everyday appliances like photocopiers, coffee machines, or water coolers.

There are a wide range of benefits that can be realised from implementing PdM impacting both costs and quality across many common business activities.

Through predicting failures and actively monitoring performance PdM can save both time and money. Once committed to a PdM programme organizations can expect to realise significant improvement in asset reliability and efficiency. For example:

  • 10x Return on Investment (ROI)
  • 25-40% reduction in maintenance costs
  • 70-75% elimination of breakdowns
  • 35-45% reduction in downtime
  • 20-25% increase in production

The time taken to achieve these benefits varies of course but often positive returns start within a year. The most successful preventative maintenance programmes take time and effort to develop, implement, and tune but the payback makes those investments very worthwhile.

Business Outcomes

Reduction in Component Downtime

Effective regular monitoring of equipment condition and of processing systems can significantly reduce the incidence of unexpected equipment failures which lead to downtime. The operational risk on mission critical assets can also be reduced.

Reduction in Maintenance Costs

Reduction in unplanned activities; increased precision of activities required, including parts needed and when to undertake the maintenance, will lead to a reduction in overall maintenance costs. Reduction in inventory and storage costs can also be achieved by predicting the re-order point in alignment with the maintenance schedules.

Improved Maintenance Efficiency

Using sensors and monitoring to identify maintenance actions and planning accurately when they occur will reduce overall time taken and will improve the efficiency of the team undertaking the actions. For organisations with a fleet of assets, additional improvements in scheduling work across the fleet can also be achieved.

Improved Product Quality

Monitoring detailed sensor data enables early identification of issues as well as the observation the impact of interventions made. This creates a virtuous cycle of experimenting and learning. Quality will increase as machines and processes are tuned and outcomes improved.

Reduced Environmental Impact

Machines which are in use for longer periods and have their efficiency increased through monitoring and tuning will result in less wastage of natural resources.

Reduced Waste

Inefficient operations often result in wasteful production. This wastage can be raw material, energy, workforce, machine cost, and time. Using PdM systems to identify and remedy these inefficiencies will maximise operations and reduce waste.

Improved Worker Safety

PdM when applied to machines and systems will reduce the risk of unexpected, destructive failures which can put employees at risk of injury. Preventing such failures will improve employee safety.

Increased Component Useful Life

Preventing failures and breakdowns alongside early detection of machine and system problems will increase the useful life of machines and components.