Condition monitoring is one of the most innovative ways that businesses and manufacturing companies can save money. It revolves around the principle of predictive maintenance, which is a proactive way of fixing malfunctioning equipment before they cause problems. A study by Oneserve recently came to the shocking conclusion that faulty machinery and broken components cost British manufacturing companies over £180 billion every year. That’s a discernible amount of wasted productivity and money for something so avoidable.
If that statistic alone isn’t enough to convince you of the benefits of condition monitoring, we’ve compiled 5 more reasons why predictive maintenance is the future of manufacturing.
Lowering Maintenance Costs
The main benefit of condition monitoring is the lowering of maintenance costs. Although adopting a ‘fix as it breaks’ approach can initially lower costs, it is always more expensive in the long run. Furthermore, broken machinery can lead to a ‘ripple effect,’ where other equipment down the production line also malfunctions, causing further damages. Most UK manufacturers report that ‘53% of machine downtime is caused by hidden internal faults.’ These faults are virtually impossible to trace without the use of predictive maintenance techniques, and as such, condition monitoring is a worthwhile investment for any manufacturing company who values reliability.
Maximising Production Output
Faulty machinery and broken components cost each British manufacturer around 49 hours of productivity a year. Not only does this dig into your potential profit margin, but it can also have adverse effects on delivery schedules and agreements with clients. With condition monitoring, you can be sure to maximize your production output and meet your deadlines.
Increasing Lifespan of Machinery
Good machinery and high-quality parts are made to last, and condition monitoring can even help to extend the lifespan of components and the longevity of your machines. For example, gear box specialist Renold Gears claims that fixing gearboxes instead of replacing them can save up to 40% of the maintenance costs, as well as boosting performance levels overall. This illustrates that condition monitoring can not only eliminate hidden costs, but can actually boost productivity overall.
Prioritising Maintenance Tasks
With frequent and reliable updates about your machinery, you have a real-time list of potential maintenance tasks and their priority. This can help you to liaise with maintenance companies and plan around scheduled projects, saving you time and money in the process.
Accurate KPI’s and Analysis
With condition monitoring, you have access to a constantly updating pool of data on your machinery. This information can prove invaluable when formulating and analysing KPI’s and measuring your manufacturing and output success. This, in turn, can allow you to make informed decisions when purchasing new equipment or extending contracts with suppliers.
The benefits of condition monitoring are vast and can have an enormous impact on your productivity levels. At Sensor-Works we focus on proactive maintenance, rather than resorting to reactive methods. Feel free to contact us for any enquiries you might have or browse through our list of possible applications.
Want to read more?
Check out our blog on condition monitoring and its impact on savings and reliability.