8 Proven Tactics to Realize Predictive Maintenance Greatness

Predictive maintenance in industries is a methodology of preventing machinery or product failure by analysing production data to identify patterns and predict the problems before it happens. For every industrial asset, predictive maintenance needs to be carried out as it is a crucial role. There are certain factors that can explain why is it very important and how it actually helps both customers and producers at the same time. Let’s look at some of them.

Reducing downtime

Identifying the potential problems, failures and tracking assets can help any business in the long run. Prediction on future downtime issues can maximize production capacity and ROI. Predictive maintenance can reduce the unplanned machine’s downtime by predicting when a machine requires check-ups. There are proven methods that helped industries increasing their revenue by 8 to 12 percent in the past.

Increased productivity

There will be lesser maintenance for good parts, quicker repair of faulty parts, and effective repair handling will improve operational efficiency. This can lead to rise in productivity and efficiencies of processing plants.

Lower maintenance cost

Predictive analysis techniques like big data analysis, using machine learning etc. has helped May industries and plants to a greater extent. It has been found that predictive maintenance can reduce maintenance cost by 25% to 35%.

Extend the equipment lifetime

PDM reduces the machine failure and provides secure operation in the background.  Periodic examination of a machine’s efficiency, quality output over time, throughput, usage and also the shelf life needs to be analysed constantly. These can improve the duration of the equipment and thereby extend the lifetime of the equipment’s.

Reducing stock of spares

PDM will play a fundamental role in stocking spare parts. It gathers machine data and by using advanced analytics it allows manufacturers to reduce the repair time. Instead of purchasing all the spare parts as stock, it provides the industrial plants enough time to order the spares and replacement parts as and when required.

Constant alertness

Predictive maintenance can help send alerts regarding the system degeneration, parts change schedules, so that no eventuality happens in the plant leading to downtime. Automating these alerts and ensuring every aspect of maintenance is monitored there is constant alertness in the operations leading to maximum uptime with great productivity.

Improved safety

Industry maintenance should be part of the operations strategy to avoid unexpected accidents. Equipment failure can sometimes be catastrophic and can even cause death.  Modern technology with alert systems and sensors can help with improved safety in plants.

Improved customer satisfaction

Consistent quality delivered through proper maintenance will result in better products and more satisfied customers. Timely maintenance tasks and automatic alerts for replacing parts can uplift company brand image to its customers and also provides competitive advantage in the market.

Predictive maintenance techniques will improve the overall operations and also better customer satisfaction for any manufacturing and process industries.

How additive manufacturing helps supply chain

The scope of Additive manufacturing (AM) has recently expanded from prototyping to tooling and production of end-user parts. AM has its influence across many industries including aerospace and defence, automotive consumer goods, industrial products and so on.

As a highly innovative production technology, additive manufacturing is gaining fast interest, due it the advantages it offers over more traditional production methods. This enables high flexibility in product design, manufacturing and downstream throughout the supply chain.

Using additive manufacturing technology to develop supply chain may give strong value proposition and competitive advantage to businesses. The two main advantages are functional integration of parts and a higher resource efficiency, for production.

Source: www.goospares.com

AM’s impact on supply chain can be understood from below points;

·       Help optimize weight ratios of goods, reducing the amount of raw material needed in the supply chain.

·       Simplification of supply chains by reducing the number of assembly steps, to get the final product.

·       Reduction of labour inputs, tooling,machining centers,  and inventory of work-in-process.

·       AM production systems are versatile and configurable, capable of producing several different parts without additional costs such as creation of equipment

·       Improve the flexibility of the process and respond more quickly to demand.

·       Redesign supply chain networks for distributed production networks.

Reduce the cost of capital access to new markets.

Additive manufacturing can have a positive impact in building a new age collaborative innovation methodology, in which AM impacts supply chain to improve overall efficiency. From layout to logistic operations, it can influence the supply chain significantly. With AMs impact, all associated activities too can see improved performance.

The flow of information would increase as material flows decrease

Additive manufacturing systems rely not on the operator’s skills, but on the designs. It limits worldwide product movement as only the design document is transferred to production locations instead of the material in digital format. The design is printed and the material is made available to the most appropriate printer.

Local market-oriented supply chain

AM will help shorten the supply chains and reduce stock by closely following the market demands and reducing lead times.

The faster supply chain: Less Logistics

As products are manufactured on the premises worldwide, the transport needs will thus decrease the lead times thereby improving the efficiency of the supply chain.

Additive manufacturing provides companies with the ability to reduce lead times and reduce uncertainty by simple processes. In addition, additive manufacturing may eliminate significant financial obstacles that have prevented other competitors from entering the market until recently.  AM reduces supply chain costs and improves supply chain responsiveness.

How Goospares helps in Liquidation of excess inventory?

By moving your inventory to Goospares, there’s a chance that you could still get away with a profit. However, in order to sell your product elsewhere, a removal order must be created within the main seller. It shifts your stock officially from the store of the Goospares to the next spot.

Goospares liquidation strategies will help you get to the higher side, while the company will make profits on goods you were unable to sell before.

Inventory liquidators buy the products at a discount and market them to customers at lower prices, they can choose to work with a designer to restyle the product to suit the trendy wavelength. It won’t earn you the expected profit, but it’s a great way to move stock.

It will also help you unlock physical space in the centre of distribution and release money invested in an obsolete inventory that can be spent further in more effective purchases.

This inventory winding will surely help you clear some space in the display shelves and replace the inventory of items that can actually be sold. It will be important for growth in the industry and will lead to its success in the future.

Source: www.goospares.com

Goospares’s liquidation:-

Here’s a quick snapshot over how Goospares work

·      You can upload your excess inventory listing to market your products and sell them in Goospares.

·      If your inventory includes large volumes of unsold items, you can make a bulk sale here.

·      Customers can view your products at goospares.com — Customers are provided with quick and easy purchases with features.

·      When customers place an order, Goospares notifies you. You can let Goospares take you out the shipment.

·      Goospares transfer payments to you — protects your bank deposits and notifies you of your payment received.

7 potential advantages to be gained

Now that you know which inventories do not provide income, let us know how to best utilize them.

·      Give an ideal way to quickly sell the excess inventory.

·      Provide access to a large consumer network, but is much greater than its local marketing expertise.

·      You can either use a Goospares auction model, in which you can set the lowest price to accept or use a pricing system.

·      Compared to other online marketplace this platform offers reduced marketing costs.

·      As part of an established online marketplace creates a level of confidence between seller and buyer.

·      They create opportunities for new trade relationships with distributors and suppliers to be formed in your supply chain or across supply chains.

Increased transparency — supply, prices and stock levels in an open environment is available