In today's manufacturing environment, systems and equipment are being asked to perform at levels not thought possible a decade ago. The need is to push process operations, product quality, equipment reliability, availability, and maintainability to unprecedented levels while maintaining cost structures consistent with budgetary constraints. There is also a demand to reduce operational and support costs, as well as, eliminate or minimize new capital investments in plant equipment due to lengthy return on investments which impact short-term capital recovery. In short, manufacturers are trying to invoke new measures to ensure plant performance while minimizing costs and extending the operational life of new and/or aging equipment. The only way this can be accomplished without jeopardizing plant safety is through new and innovative approaches in prognostic technologies.
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