Prescriptive analytics can help you transform your operations, improve your supply chain management and boost efficiency. The key is to find the right partner who can not only collect the right data, but turn it into real-time wisdom for effective decision-making.
The Many Problems…
Manufacturing has always been a tough business with many challenges – and little respite. And here’s just an abridged list:
· Safety Concerns 21K accidents annually in manufacturing (NIST)
· Waste Issues $3.3B manufacturing waste created due to defects (NIST)
· Gas Emissions 30% of global emissions created by industry (Our World in Data)
· Labor Shortage 8 in 10 manufacturing executives surveyed said not filling jobs has a moderate to very high impact on maintaining production levels (The Manufacturing Institute)
· Missed Production Targets 4-10% increased profitability in organizations with higher availability and more efficient maintenance workforce (McKinsey)
· Unplanned Downtime $50B lost by industrial manufacturers to unplanned downtime (Deloitte)
· Pressure to Reduce M&R Costs 2x Preventive maintenance is roughly twice as costly as PdM (ARC)
· Slow Digitization 74% of manufacturers are stuck in pilot purgatory having not yet successfully scaled Industry 4.0 use cases (McKinsey)
Meanwhile, we are overloaded with data – data that can help us in our decision-making. But it’s coming from everywhere, in the form of feedback from operators, technicians, equipment and our leaders – not to mention the hard data coming in from our PLC, MES and CMMS systems. And then there are all those emails and reports…
How do we sift through this mass of data and turn it into short and punchy actionable insights?
“Operating a plant without predictive maintenance is like driving a car at night without headlights.“ – Tim Holmes, Reliability & Equipment Engineering Principal Consultant at DuPont
A Single Solution: Continuous Machine Diagnostics
To make a dent in your ever-growing list of challenges, you need to make wise decisions based on solid real-time information.
And now for the good news: this is where diagnostics come into play.
What Does This Look Like In The Wild?
There’s a lot of inspiring success stories out there – across all sectors of manufacturing.
- Global Forestry Products Supplier uses Machine Health to cut downtime and achieve 11x ROI
- Major Chemicals Company transforms productivity – with fast ROI and while saving $350k of throughput loss from a single machine event during Proof of Concept
- Multibillion-dollar global Hygiene and Paper Goods Company optimizes operations – saving $23M to date
- Global Food Leader reduces pump failures and M&R spending
- Top Building Materials Manufacturer achieves fast time to value – with fast scaling across 24 sites
“This has been the best thing that has happened to this maintenance department in the 28 years since I have been here.” – Maintenance Technician, Leading Global Hygiene and Paper Goods Company
Conclusion?
We live in a data-rich world. However, the industry still lags in being able to analyze this data in a way that accelerates and heightens your decision-making powers. But the solution is now out there. Find that diagnostics partner and make it happen.
Dive into more success stories.
Or reach out to talk to us direct!
This article is based on a presentation I made with my esteemed colleague Augury Solution Architect Graham Schlanger. It took place on October 18, 2023 during The Society for Maintenance & Reliability Professionals (SMRP) Annual Conference in Orlando, Florida.
