Asset intensive organizations regularly struggle with keeping equipment, and different resources in compelling working conditions while likewise diminishing the expenses of maintenance and time-based inspection & fixes.
It becomes more complicated when asset management is done manually or when you have assets in abundance. Therefore, it is important to utilize an automated. Maintenance software such as predictive maintenance software or CMMS (Computerized Maintenance Management Software). These types of software are immensely helpful in increasing the productivity of the organization and assist in managing equipment more efficiently. In this blog, we will know numerous ways for increasing productivity with a predictive maintenance solution. So, without wasting any time, let us begin.
What Is Predictive Maintenance?
In predictive maintenance, condition predictive monitoring of each equipment is done frequently so that. Maintenance can be provided to equipment before asset failure can occur.
To avoid sudden failure, asset maintenance managers keep track of data and predict when asset failure can occur.
Predictive maintenance is implemented when you have a lot of asset data & information. It is helpful in detecting asset anomalies and helps in boosting asset performance.
The purpose of predictive maintenance is to decrease the maintenance frequency without jeopardizing asset performance so that productivity can be enhanced.
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According to the Research and Market, “The global predictive maintenance market size was valued at $4.45 billion in 2020, and is projected to reach $64.25 billion by 2030, growing at a CAGR of 31.0% from 2021 to 2030.”
Predictive Maintenance Software features are helpful in business. That is one of the main reasons why the predictive maintenance market size is growing.
What Are the Several Ways for Increasing Productivity by Predicting Maintenance Software?
Below we have discussed various methods for increasing productivity with predictive maintenance software:
1. Enhances Asset Performance
Boosting asset performance can be extremely helpful to businesses as it can increase productivity. Asset performance can be optimized when you provide maintenance on time and with calibration adjustments.
When asset performance is optimized obviously it will be long last than usual and will be to perform for long hours it will lead to better productivity.
2. Analyze Each Work Order
Analyzing each work order can give you intel about how much time your maintenance team is spending on maintenance and what is the result of that maintenance. With this data, you can get an idea about the average closing time for each work order.
Missed To Read: What Is the Difference Between Periodic and Predictive Maintenance?
3. Statistics and Reports
Accurate reports and data are helpful in making an informed decision. It means that you can set future goals based on solid numbers and not just based on assumptions.
You can know how much time your asset will require for the next maintenance. With predictive analytics & information, however, for this purpose, you need automated software such as CMMS.
4. Minimizing Downtime
When increasing productivity is your goal, then minimizing downtime is essential. Minimizing downtime means increasing asset availability, it means when assets are available then you can do more production Without investing in a new asset.
When assets perform more than baseline it means that your productivity is improving. Predictive maintenance software is specifically built for minimizing downtime and increasing uptime so that maintenance expenses can also be decreased.
5. Setting Asset Priority
To increase productivity, it is important that your asset get maintenance at regular intervals. Moreover, it is essential that you categorize and prioritize assets. It is specifically crucial for the maintenance team as they can schedule their daily operation based on the priority of assets.
If they do not know the priority of an asset, then they will work on any asset which will not be productive from a business point of view. With predictive maintenance software, you can easily do that.
6. Ensure Inventory Availability
One of the most important points for improving productivity is ensuring inventory is available in stock.
This is specifically crucial for the maintenance team, while performing maintenance it is essential that all the required inventory must be available if inventory is not available then the complete process will be repeated, and it will not be productive work at all.
That is why it is crucial to check inventory availability before performing maintenance.
Increasing productivity leads to business growth. Therefore, it is important to keep improving asset performance by increasing efficiency. When sudden asset breakdown occurs only leads to operation hindrance & employee productivity also suffers.
Nowadays, a lot of organizations are investing. In predictive maintenance software, the market size of predictive maintenance is growing at a great speed.
With predictive maintenance software, you can ensure that the maintenance is done before asset failure can occur. When asset failure occurs business operations slow, and productivity suffers.
Also Read: What Are the Equipment Management Best Practices?
Frequently Asked Questions (FAQs)
Q.1 - What Are the Benefits of CMMS Software?
There are several benefits of CMMS software. This software provides a strategic approach to manage assets efficiently and maintain them properly. You can keep track of the maintenance of each asset. It is helpful in scheduling asset maintenance for each asset. It provides data and analytics through automated reports and as per your requirement you can generate customized reports as well. You can take accurate decisions about assets. Overall, this software increases uptime decreases downtime, and maintenance cost decreases as well in the long term.
Q.2 - How Does Predictive Maintenance Software Work?
Predictive maintenance software. Monitors and tracks. Performance of each asset. And inspects condition as well. This software observes Equipment using advanced technology. And right before asset is about to fail maintenance is executed. This is not an easy task, for this purpose, data each day is collected and inspected for how much long equipment is idle or working.
Q.3 - Which Industries Can Use Predictive Maintenance? What Are the Techniques Used in Predictive Maintenance?
Industries can use predictive maintenance which is asset-intensive such as Manufacturing, Locomotive, Energy & Utilities, Oil & Gas, Aerospace & defense, Logistics, Healthcare.
A few of the main techniques that are used in predictive maintenance are vibration Monitoring, Electrical Testing, Oil Analysis, Ultrasonic Leak, etc.