Equipment failure accounts for 42 percent of unplanned downtime and costs manufacturers $50B/year. Yet 52 percent of manufacturers use spreadsheets to manage equipment maintenance. A well-run predictive maintenance (PdM) program can have a dramatic impact on Overall Equipment Effectiveness (OEE). According to DOE1, implementing a PdM program can reduce equipment breakdowns by 70 – 75 percent, reduce maintenance costs by 25 – 30 percent, reduce downtime by 35 – 45 percent, and increase production by 20 – 25 percent. Key elements of a successful program include:
- Condition monitoring—Real-time insights into the health of the test system and test facilities is a necessity for being digitally aware.
- Predictive maintenance—Equipment is serviced based on actual wear and tear as well as need for service, reducing unexpected outages and overall costs.
- Correlation analysis—Connecting critical events on a system to the overall system health and state for accelerated root-cause analysis.
- Building and maintaining a “digital thread”—A proactive approach to understand what is happening on each asset and what is likely to happen.