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How to Improve Plant Reliability and Reduce Maintenance Costs with Prescriptive Maintenance

Prescriptive maintenance is equivalent to predictive maintenance, but the attempt to automate the maintenance process goes one step further. Rather than merely tracking and offering suggestions, the goal is to leverage Machine Learning and AI to enable the machine to make its own choice on maintenance measures.

Existing Maintenance Approaches Create Excessive Costs

It is critical for manufacturers to limit maintenance costs and prevent downtime. Even brief periods of downtime can massively impact revenue, waste materials and require additional labor. Yet, many manufacturers take traditional maintenance approaches that often fail to prevent downtime and lead to unnecessary costs.

  • A reactive maintenance approach is where you let assets to run until they fail and only then perform maintenance, inherently resulting in downtime.
  • A scheduled maintenance approach is based on a calendar instead of a need, leading to unnecessary maintenance on healthy assets or a larger, more expensive failure occurring in between services.

Insufficient Maintenance Approaches Cost Your Business

  • 800 hours Amount of annual downtime manufacturers often face.
  • 20% Of production lost by many factories due to asset downtime.
  • $30-$50k Typical cost of downtime in many industrial settings per hour.
  • 42% Of unplanned downtime is the result of equipment failure.

MindSphere Users Have Been Able to Realize Up To:

1

cost savings compared to scheduled repairs

1

reduction of overall maintenance cost

1

reduction in asset breakdown

Prescriptive Maintenance Prevents Downtime and Accelerates Remediation

Prescriptive maintenance using MindSphere can help you not only predict when asset failure might occur but gain a thorough understanding of the best way to respond.

  • Track the condition of your critical assets in real-time to identify faults and better predict failure.
  • Understand the outcomes and ramifications of potential remedial actions to make more informed decisions.
  • Gain alerts with the optimal remedial actions to take, accelerating time to response.
  • Proactively respond to asset faults to prevent potential failures and unplanned downtime.

By implementing a condition monitoring solution using MindSphere, you can:

Gain meaningful insights

Make informed maintenance decisions based on real-time data analysis and maintenance simulations.

Reduce maintenance costs

Better understand the health of your factory assets, when remedial action is needed, and what action to take.

Improve asset and plant reliability

Ensure all critical assets are running at proper operational conditions and accelerate time to response.

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