Machine failure or downtime can cause a loss of thousands of millions of dollars across various industry sectors. As per the recent Deloitte study, unplanned downtime costs approximately $50 billion every year to manufacturers. Apart from this, companies have to face loss in productivity and failure in meeting deadlines. Here, preventive maintenance lends a helping hand and acts as a preventive measure to reduce the risk of sudden downtime with digital solutions.
Manufacturers who want to give a seamless customer experience while maintaining the quality of products and services need to use preventive maintenance software. It is because even a slight unwanted outage can bring significant damage to processes and even the company’s reputation. Remote monitoring of the equipment at regular intervals can help companies eliminate risks associated with machine dysfunction and outage.
An official survey has revealed that companies that deliver high-quality products and services have a greater or equal to 85% rate of preventive maintenance. Many companies have already integrated preventive maintenance software to avoid unprecedented loss and stay ahead of the curve. We can classify preventive maintenance strategy into three broad categories- schedule-based maintenance, predictive maintenance, and condition-based maintenance.
Let’s go through the importance of preventive maintenance in modern enterprises irrespective of their size and business model. We will also understand the ways preventive maintenance will assist companies to reduce downtime.
Importance of Preventive Maintenance Strategy for Companies
- Scheduled assessment for assets to reduce their maintenance costs
- Decrease the risks of sudden outage and injuries
- Ensure the safety of employees and technicians
- Enhance reliability and reduce downtime
- Increase the overall success rate and productivity
It is fair to mention that a preventive maintenance strategy should be in line with the company’s goals. This concept is designed to offer companies a competitive edge over peers by monitoring equipment and assessing maintenance procedures.
Here are some of the major benefits of preventive maintenance software-
With this, digital transformation solutions with the predictive maintenance feature can increase the life-cycle of the machinery significantly. Let’s dig deep into the ways preventive maintenance reduces downtime.
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