There are many Advantages of the Predictive Maintenance program. A well-orchestrated predictive maintenance program will all but eliminate catastrophic equipment failures. Staff will then be able to schedule maintenance activities to minimize or eliminate overtime costs. And, inventory can be minimized, as parts or equipment will not need to be ordered ahead of time to support anticipated maintenance needs. Equipment will be operated at an optimal level, which will also save energy costs and increase plant reliability.
Past studies have estimated that a properly functioning predictive maintenance program can provide a savings of 8% to 12% over a program utilizing preventive maintenance strategies alone. Depending on a facility's reliance on a reactive maintenance approach and material condition, savings opportunities of 30% to 40% could easily be realized.
Advantages of predictive maintenance:
Provides increased component operational life and availability
Allows for preemptive corrective actions
Results in decrease in equipment and/or process downtime
Lowers costs for parts and labor
Provides better product quality
Improves worker and environmental safety
Raises worker morale
Increases energy savings
Results in an estimated 8% to 12% cost savings over which might result from a predictive maintenance program
In fact, independent surveys indicate the following industrial average savings resulted from initiation of a functional predictive maintenance program: