http://blog.lenoxtools.com/industrial-metal-cutting/feed/

Predictive Maintenance Helps Metal Service Centers Reduce Downtime

June 5, 2016 / , , , , , , , , , , , , , , ,


Manufacturers know that downtime results in lost productivity and profits. However, thanks to technological advancements in predictive maintenance, service centers and other industrial metal-cutting companies can nearly eliminate downtime altogether.

Unlike preventative maintenance, which uses anticipated and planned downtime to prevent unplanned breakdowns and minimize cost impacts, predictive maintenance aims to predict breakdowns before they even occur. Software and sensors collect data, and algorithms identify not only the anticipated failure, but also calculate the probable time that failure will occur. This enables companies to repair or replace parts before failure and helps eliminate both planned and unplanned downtime.

Several industries are adopting predictive maintenance as part of their operations. An article from the Harvard Business Review provides a few examples:

The manufacturing industry is also adopting predictive maintenance, but research shows it is doing so at a slower rate compared to others. For example, a recent survey by the Manufacturing Enterprise Solutions Association and LNS Research concluded that manufacturers have some work to do to catch up to current capabilities—only 14 percent of survey respondents said they used manufacturing data in their analytic program.

Of course, building a predictive maintenance program requires both time and money, but many manufacturers are finding that the benefits outweigh the cost. An article from American Metals Market lists just a few of the many potential benefits of using predictive maintenance:

According to the AMM article, several metals leaders are reaping the rewards of predictive maintenance, including:

The trend is also starting to gain traction in industrial metal cutting. The LENOX Institute of Technology’s benchmark study of more than 100 metal service centers and other industrial metal-cutting organizations found that companies are gaining additional productivity and efficiency on the shop floor by “investing in smarter, more predictive and more agile operations management approaches.”

While there is no question that predictive maintenance is proving beneficial in the metals industry and beyond, some companies may be hesitant to adopt the technology due to the investment and the training required for implementation. However, if your goal is to reduce downtime and increase the chances of future success, this may be one technology worth considering.

For more information on predictive maintenance, check out this overview article, which lists common tools and techniques, as well as a video.