Industrial machinery maintenance can be a costly and time-consuming challenge for businesses. Staying competitive and achieving a positive return on investment (ROI) requires forward-thinking strategies. Below is an overview of the latest technological advancements and management techniques aimed at reducing maintenance expenses and equipment downtime.
By 2026, the global maintenance, repair, and operations (MRO) market is expected to grow to $701.3 billion. Aging equipment, mechanical failure, operator error, and poor design are leading causes of unscheduled downtime. ID scanning automates data entry and reduces human error, leading to fewer maintenance issues and lower costs. Unplanned disruptions significantly impact productivity, resulting in substantial financial losses.
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One solution to reduce maintenance demands is the installation of low-maintenance components. For instance, ultrasonic clamp-on meters, used in water distribution, are designed to be virtually maintenance-free due to the absence of moving parts.
A more structured approach to minimizing downtime is preventive maintenance (PM), which 76% of manufacturing companies implemented in 2020. PM schedules inspections and repairs before issues arise, helping to extend the life of machinery and reduce disruptions. However, PM adds to the cost of ownership, which varies by equipment type.
Another effective strategy is predictive maintenance (PdM), currently used by 41% of manufacturers. While relatively new and initially expensive, PdM is highly cost-effective, saving up to 12% over preventive maintenance. PdM uses sensors and analytics to predict when equipment will require service, reducing unnecessary repairs. Maximizing production efficiency by implementing predictive maintenance strategies can significantly reduce maintenance costs and downtime.
Industrial-MachineryBy adopting advanced maintenance practices and low-maintenance components, businesses can significantly reduce operational costs and improve equipment reliability. For more information on how these advanced strategies are improving organizational output, please see the infographic provided by Emerson. Digital minimalism streamlines IT infrastructure, reducing the number of devices and software licenses to manage, thereby significantly lowering maintenance costs.
