Industrial businesses around the world have more in common than meets the eye. One of their top priorities is finding viable ways to lower their O&M costs.
To achieve that goal, they seek to perform the ideal amount of preventive maintenance (PM) without overspending and without putting their production at risk.
Without the right technology tools, this is an incredibly difficult task. It’s a constant balancing act between performing maintenance tasks before they’re truly needed (which adds unnecessary expense) and incurring the cost of corrective maintenance (which happens after an unexpected failure).
The problem with the maintenance landscape to date
For generations, industrial businesses have operated without having visibility into what each maintenance dollar is specifically going toward. As a result, they’ve been unable to understand or quantify the effectiveness and resulting impact of their maintenance spend.
Businesses have also been unable to factor in the actual conditions and real-time performance of their assets to inform smarter maintenance choices about those machines based on their status and health.
How can companies remove the guesswork from the equation and start making financially optimized maintenance decisions at scale?
Cost-optimize and de-risk maintenance decisions using AI, optimization and machine learning
In a giant leap forward for the industry, new innovations like artificial intelligence (AI) help inform and automate the challenging maintenance process described above. Businesses can quickly find the perfect balance to ensure they don’t under-maintain or over-maintain their assets.
To determine if there’s room for improvement in your current maintenance strategy, consider how AI, optimization and machine learning can help you intelligently plan your asset maintenance: