The value of condition monitoring reduces maintenance time and labor costs. Monitoring your assets' conditions using gauges and clipboards is no longer cost-effective. Today, the Industrial loT allows you to identify and address issues before failure occurs, and optimize your assets and processes to be more efficient.
See a 50% reduction in maintenance costs. This Includes costs normally associated with maintenance, such as labor and overhead, and actual materials cost of repair parts, tools, and other maintenance equipment.*
Time is money so if you can reduce mean time to repair by 60% you win. Better plan each repair and reduce MTTR by pinpointing precisely where the issues are in specific machines, thereby eliminating guesswork.*
A 30% reduction makes an impact on your bottom line. Rather than order and stock a full inventory of spare parts, condition monitoring provides sufficient lead time to order parts as needed.*
A 40% reduction in downtime. By performing maintenance only when needed, operators reduce the frequency of planned shutdowns, keeping assets in service more often.**
55% reduction in machine failure. Just during the two-year period after implementing the predictive maintenance program. With regular monitoring, projected reductions increase.*
Extend asset life by 30%. Based on five years of operation with predictive maintenance. Condition monitoring programs help prevent serious damage to
machinery and systems, increasing the operating life of assets.*
30% increase in asset availability. By monitoring asset health in real-time, operators can forecast degradation or pending failure, and modify maintenance or production schedules.**
Increase production by 25%. Through consistent, accurate condition monitoring , operators can avoid unplanned downtime and optimize assets to operate more efficiently.**
Check out our infographic on the 8 Reasons You Can't Afford to Ignore Condition Monitoring:
* Mobley, R. Keith. An Introduction to Predictive Maintenance. 2nd ed. Philadelphia: Elsevier Science. 2002. 70- 73. Print.
** U.S. Department of Energy
Learn more about condition monitoring from Parker Hannifin