A predictive maintenance strategy reduces manufacturing costs in many ways. Carrying out maintenance when and where it is needed can be cheaper than a traditional preventative regime, where maintenance is performed according to a schedule.
By repairing equipment at the optimum time, machinery and components can last longer. Further, maintenance can be scheduled for when it is convenient (rather than a machine failing out of the blue and having to be repaired). Since unplanned downtime is very costly, predictive maintenance can save manufacturers money. Additionally, because equipment is maintained efficiently, production capacity can be maximised.
Since predictive maintenance analyses component health in continuous, real-time detail, the need to disassemble equipment to uncover maintenance issues is reduced, which saves time and money.