The overriding goal in any plant or factory floor is to reduce costs, improve profitability, maintain quality whilst remaining competitive. In manufacturing, efficiency is interconnected with costs, so in general, the greater the efficiency, the lower the costs.
Since money is both made and lost on the shop floor, companies are now looking for lean monitoring solutions to provide them with accurate, real-time visibility of production processes. This, in turn, enables them to make faster and more informed decisions and achieve maximum efficiency as well as reducing costs.
By installing a Machine Monitoring solution (also known as Condition Based Monitoring), data-driven manufacturing opens a new window onto the performance of your machines across the shop floor. Data collected continually, in real-time, from every machine, enable you to harness that intelligence and turn it into better, more informed decisions and greatly improved efficiency.
A major benefit of Machine Monitoring is Predictive Maintenance. This is where machines can effectively self-monitor their condition and identify any significant change which could be indicative of a developing fault. This means that actions can be quickly taken to address issues before developing into a major fault, resulting in damages and unpredicted downtime.
According to the Manufacturer, downtime causes many costs to manufacturers. For the UK that figure is estimated around £180bn every year. Over 3% of all working days are lost annually in manufacturing due to machine downtime. This figure equates to around 49 hours of work or £31,000 per company per year. Most common causes of downtime are hidden internal faults that could have been easily prevented through predictive maintenance. Machine Monitoring would have predicted these faults in advance and helped prevent these losses.
Moreover, having higher Overall Equipment Effectiveness (OEE) most often leads to better comradery, performance and teamwork on the shop floor as well as improved communication throughout the business. This greater efficiency in production can also lead to less waste, greater energy efficiency and less pollution.
In fact, energy consumption is one of the largest expenses for manufacturers, yet much of that spend can be avoided. With Condition Based Monitoring, you can easily gain insight into the energy consumption across the whole shop floor. Having access to this real-time data, you will get to understand which machines are performing better and then proactively fix problem spots with underperforming ones. So not only is each machine optimised to be energy efficient, it’s the production line and the entire facility that contributes to reducing energy usage and wasteful practices.
Condition Based Monitoring is a great start in harnessing the power of data and enabling your factory to become much more efficient, operate with greater profitability, stay competitive and to serve your customers better. Our AssetMinder® technology provides a powerful set of tools to help deliver these advantages and more.
AssetMinder® gives companies the edge and enables them to build new strategies focused on harnessing the power of data to stay competitive and get ahead. If downtime is one of your main worries or if you want to understand the nuts and bolts of what AssetMinder® is and how it can help you, then please click to complete a short form and we will get back to you asap.
In the eBook shows how manufacturers can use remote monitoring to quickly identify failures and efficiently repair equipment. Tech-Clarity provides actionable steps that manufacturers can take to connect remote equipment, gather the right data and put that data to use.
Download the “Quick Start Guide: Monitoring Equipment with IoT” eBook to learn how: