Every organization how valuable equipment maintenance is yet there are still lots of organizations that are not using equipment maintenance. However, now as we are rising from this pandemic asset management software has evolved and so are equipment maintenance trends!
So, what are those trends, and how this evolved software is changing work procedures in this pandemic! We will know in this blog. But first, let us know what equipment maintenance software is! So, without wasting any time let us begin!
What Is Equipment Maintenance Software?
Equipment maintenance software is used for monitoring and tracking the health of equipment and keeping equipment in the best condition. This software is useful when your organization has assets in abundance.
We know it becomes to keep track of which asset got the maintenance, and which does not. That is why this software helps in keeping track of each asset for maintenance purposes.
This software is also helpful in improving asset performance with calibration adjustments.
What Are the Main Trends of Equipment Maintenance?
Equipment Maintenance trends are discussed below:
1. Decreasing Downtime
Downtime decreasing and keeping minimized downtime is not a simple task. When downtime decreases it results in wastage of resources and it hinders productivity especially those industries which are asset intensive such as construction, manufacturing, oil & gas, etc.
In order to avoid downtime, it is important to understand why downtime is occurring because of sudden equipment failure which can be eliminated by ensuring schedule maintenance.
2. Accentuating on Proactive Maintenance
Proactive maintenance can help the organization in various ways from decreasing maintenance expenses to increasing asset life, from minimizing asset failure chances to increasing production work.
Proactive maintenance has been there for a long time, but a lot of organizations do not invest in it thinking that it will be a waste of resources. On the contrary, it can be very beneficial for business. Proactive maintenance can assist you in organizing maintenance work.
3. Remote Maintenance
Remote maintenance means that software that plans, schedules, supervises, and controls maintenance from a remote location.
This can be done with the help of cloud computing technology, and it is one of the significant equipment maintenance trends that has helped a lot of organizations in this pandemic.
Thanks to the cloud-based equipment maintenance software! There is no doubt that this software has been very productive and useful to the organization that is working remotely and collaboratively.
4. Increasing Asset Life
When equipment is costly then you would like to asset run longer and break down do not occur. Otherwise, it will be not only expensive repair, but it may impact the overall productivity of the organization and also might slow the process.
By providing maintenance on time, you would like to increase the life of an asset. Obviously, increased asset life means more production which helps organizations in maximizing return on investment (ROI).
5. Maintenance Insights
One of the evergreen equipment maintenance trends is maintenance insights. It can be very useful when you are planning for the long term.
For instance, with the previously collected data you can use it to know how much asset is utilized and how frequently it is utilized, and for how long asset work in one go and once an asset is provided with maintenance then after how many days or month asset needs maintenance again.
With this data, you can plan future goals.
Other than this equipment maintenance software provides real-time analytics that makes it simpler to react when the asset is not working as per the requirement.
6. Inventory Tracking
After scheduled maintenance and while performing maintenance if required inventory is not available in stock then it will not be considered as effective maintenance. Why? Because the whole process will be repeated. It also leads to a waste of time and resources.
That is why inventory is essential for delivering effective maintenance. Obviously, when inventory is so important it needs to be tracked so that out-of-stock issues shall be eliminated.
This equipment maintenance software can be used for keeping track of inventory in order to avoid stock issues.
Remote asset management is one of the most requirements including equipment maintenance trends.
According to the Reports of Markets and Markets, “In Asia Pacific (APAC), the market is projected to grow at the highest CAGR of 17.3% during the forecast period due to the demand for remote asset management solutions and services in countries, such as China, Japan, India, and Rest of APAC.”
From now on remote asset management and equipment maintenance will be in trend because lots of organizations are working remotely and working remotely is the new normal.
Nowadays equipment maintenance is not complex as this cloud-based asset management software has simplified the process. Moreover, there are several other technologies that are used for enhancing productivity.
Frequently Asked Questions (FAQs)
1. Which Are the Main Industries That Are Using Equipment Maintenance Software?
Any organization that has lots of assets can utilize this software. However, industries are manufacturing, retail, construction, energy, and utilities, transportation and logistics, Oil & Gas, etc.
2. What Shall Be the Main Focus Points While Working Remote Maintenance?
A. Spot anomalies for asset health monitoring
B. Check asset performance criteria
C. Specific part not working properly checking with asset history
D. Analyze patterns to detect the failure and adopt real-time information to avoid equipment failure
E. Use asset tracking technique for maintenance tracking Real-time information
These are the main points that should be in focus while remote maintenance.
3. What Are the Other Technologies That Are Used for Boosting Productivity?
Along with cloud technology organizations are using IoT (Internet of Things), NFC (Near field communication), Barcode, QR Code (Quick Response Code), RFID (Radio-frequency identification), etc. We know cloud technology allows us to access data remotely and changes can be made as per the priority.
On the other hand, IoT, RFID, etc. Are helpful in providing real-time information accurately. These technologies are also used for asset tracking. It means that it is always aware of asset location all the time.