Challenge
The manufacturing environment is becoming more complex with increasing demand for precision and minimal downtime, and lean operations. However, there were untimely equipment failures, a lack of planning, and quality problems that still affect profitability and productivity.
Deloitte cites a study that indicated that the cost of unplanned downtime was costing manufacturers an estimated 50 billion dollars a year. Conventional preventive maintenance usually causes over-servicing, and reactive models are critical failures.
