Managing processes and equipment through predictive maintenance presents significant benefits. With the rapid evolution of technology, companies can obtain a higher level of intelligence while monitoring plants, reducing downtime and cutting costs. Jez Palmer of Schneider Electric, takes a look at how businesses can implement predictive maintenance and the subsequent benefits. It is not uncommon to find owners and operators looking for ways to extend the life of existing equipment as getting more out of an asset can help a business to reduce costs, and improve production efficiency, performance and profitability. In addition, there is little doubt that the majority of production facilities still have enormous potential for improvement when it comes to plant performance. In an industrial facility, maintenance can account for a significant proportion of operating costs. Lack of knowledge about when and what kind of maintenance is needed to maintain, repair or replace critical machinery, equipment and systems within a plant or facility, can result in ineffective use of maintenance expenditure and perhaps more significantly, loss of production.
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