How Do Industries Decrease Downtime To Increase Profitability?

Many industries have their own processes in place to combat downtime, as this affects the production to a great extent. In today’s scenario, predictive maintenance is taking the forefront in many industries. It is replacing reactive maintenance. The Predictive maintenance techniques implemented effectively in industries are showing that it is one of the best methods to reduce downtime as well as increase the profitability. It also reduces the phenomenal costs of operation downtime/shutdown.

Downtime affects manufacturing productivity

Any unplanned event leads to a major downtime. Unplanned events could be in the form of equipment failures (breakdowns), material shortage issues, unscheduled maintenance or even shortage of staff/operators, or unscheduled maintenance. Due to one or more factors, the downtime increases as the process in not running.

This downtime, by far is the most significant factor that affects productivity to a huge extent. Equipment breakdown and failure is highly visible and has to be addressed immediately as the repercussions are many, sometimes having a cascading effect.

Predictive maintenance – its importance

Manufacturing industries with extensive operations are now using technology to predict machine maintenance. Information technology can help a lot in predictive maintenance of machinery by using predictive analytics.

Predictive maintenance technique analyses the equipment sensor data and predicts any equipment failure. This helps in increasing the uptime and also reduces the costs of production. All the data is generated by sensors. Most of the industries that operate any form of machinery can benefit from this analysis. Some of these industries are building automation industry, transportation industry, all forms of manufacturing industries etc.

Predictive maintenance adds value in terms of empowering the decision makers to see and acknowledge the time of intervention well in advance before any critical failure strikes. The world over, many industries are using predictive analytics to increase profitability and productivity.