Preventative maintenance is a key component of asset management. Find out how smart technology and predictive maintenance software are boosting productivity

In a rapidly digitalising world, the asset management of tomorrow relies increasingly on data to guide processes and productivity of key equipment. In the past, businesses typically adopted policies of corrective or reactive maintenance. To remain competitive, businesses of all sizes are using smart technologies and predictive maintenance software to guide preventive maintenance schedules and boost profits.

Keep reading for key takeaways and insights into the smarter world of preventative maintenance.

Asset management & failing to plan

The main problem with corrective maintenance is that it often has the effect of stopping operations in their tracks. When critical equipment goes down:

  • It affects the quality of goods and services
  • It impacts deliverables
  • It can be resource-intensive and costly to rectify
  • It affects reputation and profitability

Additionally, maintenance affects the lifespan and performance of key assets. When it comes to equipment that’s central to performance, replacement can lead to expensive downtime and high replacement costs.

Smart technologies are giving businesses the opportunity to use data to drive maintenance schedules. This not only removes the worry around these kinds of equipment failures, but serves to optimise performance too. Real-time building monitoring gives business owners and managers a unique ability to react to early indicators to mitigate the chance of defects and failures.

The benefits of data-inspired preventative maintenance

Extended lifespan of systems

Preventive maintenance serves to keep equipment in top-top shape. In so doing, you are also working towards extending the longevity of machinery.

Enhanced energy efficiency

Regular maintenance has the potential to keep machinery working efficiently, with reduced energy consumption and emissions. This has benefits for your business’s bottom line, green goals, and contributes to overall workplace safety.

Increased productivity

By keeping machines running smoothly, you empower productivity. Regularly maintained machinery is more likely to achieve optimal outputs – and improved productivity means improved profitability.

Reduced maintenance costs

Emergency maintenance can be extremely costly. By carefully formulating a preventive maintenance schedule, businesses stand to drastically reduce maintenance costs.

Compliance

Equipment monitored for the purposes of compliance often place a heavy administrative burden on businesses. Manual processes require manpower, which goes in-hand with the risk of human error and the cost of non-compliance. Smart technologies create automated processes for everything from fire safety compliance, Legionella monitoring, and lone worker safety to noise exposure, vibrations, and emissions. IoT tags, sensors, and pressure pads also catalogue and store consistently acquired data on a remotely accessible dashboard, removing the need for filing cabinets and human processes.

Optimised schedules

While failure to perform maintenance is a worry, it is also costly to be over-cautious. One of the big benefits of smart technologies and preventive maintenance is the ability to fine-tune maintenance schedules based on real-time data. This means every maintenance process will be optimised, which has the effect of saving money and preventing waste.

 A smart system of sensors, tags, predictive maintenance software

Data-inspired innovations are coming to define maintenance of the future. IoT-driven sensors and tags give business owners and managers an opportunity to monitor their entire operations remotely and in real time – from anywhere. This gives actionable insights when it comes to machinery, as well as the kind of data that informs strategic decision-making.

Many smart technologies are also easily integrable within existing asset management systems and predictive maintenance software. This makes them a simple addition for superior outcomes. It also creates an opportunity for automation, which is the guiding businesses of the future.

The smarter way to work towards preventative maintenance

Smarter Technologies Group offers simple, powerful technologies for digital transformation around maintenance. Servicing a range of industries and sectors, these solutions are highly effective in achieving digital transformation around maintenance of key machinery.

Contact Smarter Technologies Group today for more information.