Core analytical services such as vibration analysis, laser alignment and rotor fault diagnosis are the foundation for detecting, predicting and managing the failure modes of process equipment. As a large percentage of process equipment monitored for condition are considered critical to an operation, it is well understood that the cost benefits of avoiding equipment downtime can have an enormous impact on the safety, economics and quality of an operation.
Some benefits of predictive maintenance include:
Reduction in lost production time: Unscheduled downtime can be extremely expensive – in some cases, tens of thousands of dollars per hour. Predictive and proactive maintenance enables repairs to be done during times when they are less disruptive.
Reduction in labor costs: Critical equipment failures almost always involve unplanned and costly labor requirements. Organized, proactive repairs on the other hand can be performed cost effectively.
Reduction in equipment costs: Unplanned downtime and critical failures can often lead to more expensive repairs or even complete replacement, versus the planned repair of components, which allows for minimizing the scope of the repair.
Reduction in energy costs: Predictive services identify mechanical and electrical conditions that reduce energy efficiency.
Reduction in wear part inventories: Condition monitoring enables proactive machinery maintenance and allows companies to have the parts required to service machines on a planned schedule.
Increase in safety: Critical failure of process machinery could have a number of unplanned outcomes, including unsafe plant conditions for employees. Enough said.
Improved quality: Proper equipment monitoring and maintenance planning enables industrial processes to consistently deliver quality parts and products.
Predictive services are especially beneficial when dealing with critical air and water systems and infrastructure for commercial and industrial processes.
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https://www.maintenancetechnology.com/2015/03/the-business-case-for-asset-reliability/