There is a greater impact on overall value in increasing production rather than saving on maintenance costs. Customers are focusing on increasing overall production, so the ‘Predictive Maintenance’ buzzword does not necessarily represent the value that manufacturers are aiming for today.

Predictive Monitoring for Greater Value Impact

In the last few years, Predictive Maintenance has been one of the most talked about buzzwords in digital manufacturing. The hype was understandable – the aim of most operations teams is to cut down on maintenance costs and improve overall plant operations. As stated in an article published by Deloitte in 2017, if there isn’t an appropriate maintenance strategy in place, there can be a reduction in “plant’s overall productive capacity between 5 and 20 percent. Unplanned downtime costs industrial manufacturers an estimated $50 billion each year.” Thus, it has become increasingly imperative to install predictive maintenance and other smart manufacturing capabilities into manufacturing plants to prevent loss.

According to this Gartner Hype Cycle, many manufacturers realized the importance of predictive maintenance and general Industry 4.0 from 2016, to improve the efficiency of their plants and cut costs.

Gartner Hype CycleHowever, in 2019 we expect market conditions to begin to change. Most factories are already utilizing predictive maintenance, and we hear from our own customers that there is a greater impact on overall value in increasing production rather than saving on maintenance costs. Customers are focusing on increasing overall production, so the ‘Predictive Maintenance’ buzzword does not necessarily represent the value that manufacturers are aiming for today.

The current market conditions portray that if you can increase manufacturing two more days per year, or a few more hours a day, it may be more valuable than lowering your overall maintenance expenses.

However, most organizations (even those that are running well) are focusing on how to produce more and how to avoid even a few hours of downtime. This is possible through Predictive Monitoring.

What is Predictive Monitoring?

Predictive Monitoring is the ability to monitor the entire plant based on historical data in the historian and real-time data. It is utilized not for the purpose of planning the next maintenance project, but for the purpose of preventing shutdowns and ensuring smoother operations. Smoother operations ensure more production which as a result provides plants with a higher overall value – a very achievable goal. On the other hand, Predictive Maintenance, in terms of the big complicated equipment, has a much lower value and is not necessarily achievable. It is designed to predict when a part is deteriorating and only then replace it. Obviously, there is some overlap between predictive monitoring and predictive maintenance, because when monitoring you may uncover parts that require maintenance or replacement, so monitoring helps reduce maintenance cost.

At Precognize, we offer four main applications within our predictive monitoring capabilities that help our customers ensure smoother operations and inform them immediately of any problems. These include:

Early detection of equipment failures. Prevents shutdowns before they occur with early detection of possible future failures.

Utilization of Virtual Sensors. Informs the operations team members with immediate alerts that there is a problem with quality during production.

Identification of suspicious operations behavior. Alerts the operations team if there is a variation in the process.

Identification of suspicious operation modes. Highlights any unusual operation modes conducted by the people who are operating the plant and are not following the process instructions according to plan.

All these capabilities are achievable within predictive monitoring because the entire plant is monitored on all equipment types for any type of problem.

Getting the Most Out of Predictive Monitoring

Getting value out of predictive monitoring requires understanding what you want to achieve from the outset. We recommend setting up a Key Performance Indicators table to understand your business case and goals.

  • First, you should understand what you want to improve within your plant.
  • Second, have a clear and measurable goal. Include actual numbers!
  • Third, you should include a baseline to understand what your plant’s status is currently. You should then understand what is stopping you from achieving this goal.
  • And lastly, indicate what is the equipment related to this goal.

Most often, predictive monitoring is the answer to responding in real-time to any issues that arise anywhere in your plant. It could highlight something as small as a valve that needs cleaning to allow smoother passage of material, or something as large as a mechanical part that needs replacing.

Rather than waiting for the next scheduled maintenance change, you can rely on a system that will ensure smooth operations and help you to produce more, increasing the value of your plant.

The fact that predictive monitoring is such a new phenomenon means that it has a lot of potential to grow and improve. As more and more data are captured within plant historians, and an increased number of plants utilize this technology, the more advanced predictive monitoring will become and the more value will be gained.

Learn More about Predictive Monitoring
You can learn more about how to bring true value to your plant through predictive monitoring, by watching this webinar presented by the CEO of Precognize, Chen Linchevski.