March 3, 2022 | Divya Khare
According to a Preventive Maintenance report from Market Research Future, the global Preventive Maintenance market is expected to grow to 23B by 2025. The highest number of implementations are happening in the manufacturing sector, but all businesses with high capital are tied up in their equipment and are very much interested in Preventive Maintenance.
Preventive Maintenance is an effective maintenance strategy that employs monitoring systems tools to detect various signs of deterioration, discrepancies, and equipment performance issues. Based on those measurements, the organization can run pre-programmed predictive algorithms to predict when a piece of equipment will fail, allowing maintenance work to be performed just before it fails.
Types of Preventive Maintenance
Preventative maintenance is proactive and carefully planned to perform routine maintenance at predetermined times to avoid asset failure. Organizing a preventative maintenance schedule entails manually tracking data to determine when servicing is required. It can be broken down into two basic categories: time-based and meter-based.
Time-based preventive maintenance:
This type of preventive maintenance is performed at predefined intervals of time and is most beneficial for equipment that must be serviced on a routine basis. Depending on the task, you may need to arrange maintenance and inspections to take place daily, weekly, monthly, semi-annually, annually, or at any other time interval.
Meter-based preventive maintenance:
This type of preventive maintenance is performed at a predefined meter reading rather than at a predefined interval of time. Preventive maintenance tasks are initiated for an asset after a certain number of hours, miles driven, or production cycles have been accomplished.
Preventive Maintenance is not a novel concept. For many years, the technology for implementing Preventive Maintenance has been available. The advantages are well understood, especially given the high cost of downtime in most industries. Despite these benefits, adoption has been slow, particularly between many end users.
Certain types of Preventive Maintenance modeling can be addressed with relatively simple, even manual, computations. The true value of deep learning is its ability to analyze large amounts of data from a variety of sources in the context of complex machine dynamics and real-world operations to obtain a greater understanding of asset operation and health.
Machine learning is an effective tool for implementing a Preventive Maintenance programme on the shop floor. Starting with the business case and devoting considerable time to developing a thorough understanding of the data will help ensure high-quality results. In general, today’s ML tools for Preventive Maintenance are intended to automate the ability to extract insights from data in order to improve business operations.
AI for Preventive Maintenance can also adapt to a rapidly growing environment by utilizing supply chain planning algorithms. This assists the company in foreseeing market changes, allowing management to shift from a reactive to a strategic mindset.
AB InBev is the company brewing some of the world’s oldest and most popular beer brands. This global corporation is all set to embrace innovative and competitive technology. To understand the mechanism of machine learning and its implementation they partnered with Pluto7, a technology solution provider using Google Cloud Platform (GCP) to improve the overall operations at the manufacturing sites.
Solutions provided by Pluto7 not only reduced the cost of filtration and let the beer lovers acquire the best taste by increasing the barrelage per run by 44% to 80% through longer filter runs but also succeeded Ab InBev in bagging the 2019 Gartner Award.
Despite all the drawbacks, Preventive Maintenance is expected to grow, implying that the benefits outweigh the dilemmas. We won’t go over them again because the picture above does a good job of summarizing them. The bottom line is that Preventive Maintenance can provide a significant ROI in the long run, making it a risk worth taking.
Pluto7 is well versed with the technology trends being evolving constantly and the challenges that the industry faces to implement a supply chain.. Organizations tend to resist themselves or adapt a slower approach for transforming to new environments when there are a lot of technology options and lack of understanding to choose the best.
Pluto7’s Preventive Maintenance provides predictive capability to forecast failure and determine remaining useful life. Current prescriptive rule based solutions are unable to maximize equipment capacity.
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