Boost Market Leadership as you go from Reactive Maintenance to Predictive Maintenance

What do you imagine when you think of asset maintenance in enterprise asset management? 

1. An unavoidable cost that must be managed and minimized. 
2. A platform for value-addition and competency building. 

If you chose (b), your answer would align with most IoT enthusiasts and proponents. However, if you thought (a), then you would be a part of a large real-world group of enterprises and their leadership that still struggle with their asset maintenance. 

As we move into the new age, through the tunnel of the pandemic, we know the importance of digitization and data intelligence more than ever. Yet, many enterprises don’t bring asset management and maintenance within their discussions when they talk of IoT and Industry 4.0. 

Asset Maintenance – Problems with Reactive Maintenance 

Even asset-intensive industries like oil and gas, chemicals, energy, and manufacturing - that drive direct value from their assets – follow a reactive style of asset maintenance. They fix when things thing breaks or stop working. Inadvertently, this leads to production downtime, operational disruption, delays within the lead time, and overall supply chain lag. 

Hence, the so-called ‘cost’ of maintenance with this reactive style has a domino effect on multiple key performance indicators across production, workforce and performance management, materials procurement, supply chain delays, and missed deadlines. In the end, the actual cost might just be about 30% of the total impacted cost due to resultant downtime. 

Improper maintenance practices – including but not restricted to exact equipment calibration – lead to erosion of output quality. Such breakdowns also compromise the overall performance of the asset, gradually wiping away from the lifetime asset value. 

In regulated industries like life sciences, chemicals, etc. such reactive or improper maintenance practices can result in citations or even sanctions. 

So, you see, trying to minimize asset maintenance costs without actual digitization and automation interventions is like missing the forest for the trees. 

Asset management must move from reactive maintenance, through preventive, and on to the desired predictive maintenance stage. This journey is a gradual and rewarding one. It won’t be completed in a day. Even Rome wasn’t built in a day. But when you reach it, your assets would be available almost 100% of the time, operating at the top of their capacities, with perfectly aligned workforce interventions, tasks, material handling, procurement, supply chain, etc. 

In the end, you won’t just reduce maintenance costs but also eliminate all inefficient bottlenecks – boosting overall efficiency and market competitiveness. That’s how predictive maintenance turns your asset management into a value driver. 

Going from Reactive Maintenance to Predictive Maintenance 

So, you don’t want to be chasing bugs, errors, anomalies, and breakdowns once they occur with a reactive maintenance approach. It’s a ‘bad’ cost that drains and strains your resources without adding any efficiency. 

Crave InfoTech has helped multiple enterprises take this journey from majorly reactive to majorly predictive maintenance. We have our proprietary ‘Maintenance Maturity Curve’ that sets a definite transformation roadmap with clear metrics, benefits, and impact areas. 

Predictive Maintenance | Complete solution to foster competencies and competitivity 

This is how you optimize all your asset management and maintenance processes to turn their focus on pure efficiency and effectiveness. The essence of predictive maintenance lies within complete enterprise mobility, error-free data acquisition with real-time synced databases, and superior analytics to deliver actionable insights to the right person, at the right time, and in the right format to realize the desired impact. 

Predictive maintenance results in 100% asset availability with much higher wrench time, complete visibility over workforce performance tasks, and total data sanity (with possible real-time sync from anywhere). 

Your factory, hence, functions from its most potent position at all times. This, of course, has a direct effect on your overall market competitiveness. With predictive control over asset performance, you infuse consistency, agility, and speed within your final value proposition. The end-user or consumer, hence, would come to trust your reliability, final product or service availability, and dependability. All things consistent, this trust would eventually turn into brand advocacy – resulting in increased market share. 

So, you see an investment in the journey towards predictive maintenance pays great dividends as you grow – at every stage. With the right partners working and the keen leadership buy-in, your enterprise would eventually become the ‘best’ run version of itself. 

I said before, Rome wasn’t built in a day and predictive maintenance won’t be achieved that fast either. But as automation, intelligence, and connectivity become the immovable norm, all future roads would be leading only to Rome and predictive maintenance. It’s up to you to begin that journey with a single step right now.