Predictive Maintenance — The Next Revolutionary Shift in Manufacturing

In Industry Europe, Igor Ilunin, head of IoT at DataArt, explains why predictive maintenance is the next major shift in manufacturing.

“Through the application of a sophisticated PdM solution, all data processing, monitoring, and predictions are conducted intelligently by individual devices, which are capable of providing suggestions about the ideal methods and timeframes for maintaining equipment and business processes. PdM optimises every aspect of operations while providing massive savings and ensuring maximal productivity through intelligent predictions and effective actions.”

“Artificial intelligence makes machines capable of harnessing their computing power to provide suggestions for decisions that optimise the maintenance of all machinery, thereby greatly reducing downtime while increasing the longevity of machines. The financial savings are sizeable – estimates show US manufacturers losing $50 billion a year due to unplanned downtime. In addition to saving money and reducing production interruptions, PdM improves reliability to ensure the smooth delivery of products in a timely fashion.”

“According to research by McKinsey , the application of PdM techniques can result in EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin improvements of an incredible 4-10%. McKinsey also reports a reduction in machine downtime of 30-50% and an increase in machine life of 20-40% through the application of a PdM solution.”

“One of the most compelling features of predictive maintenance is the exceptionally low effort required from a company and the minimal cost necessary to build a system.”

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