Predikto will be releasing a new Advanced Analytics solution that will enable operators at continuous manufacturing facilities to predict production delays, asset failures, and expected production yield for future batches without the need to send us sensor data on a daily basis.
Operators will enter future batch settings like Steel Quality, Billets, Speed, Temperature, and a handful of other information. Predikto will show in a simple graphical web form the risks embedded in the batch and the recommended settings to maximize yield and reduce the probability of having delays or failures with their equipment. This could be a game changer. Stay tuned…
I was walking through the streets of New York recently and ran into a public telephone booth. I was amazed at my reaction since phone booths are almost extinct. Earlier that day my family went to the Museum of Natural History to see dinasours up close and personal, and it’s amazing how all these different and interconnected animals are extinct as well. It got me thinking as to what practices in industrial manufacturing would become extinct in the next decade or two.
The fact that 50% of the experienced manufacturing workforce will be retiring in the next 5 to 10 years is adding a lot of pressure to organizations to improve automation and depend less on these seasoned “experts”.
So if improvements in technology and automation are key to ensuring US manufacturing continues to stay ahead of the pack, then what areas will become extinct? I believe organizations focused on reactive maintenance will eventually become extinct. These reactive firms who have not implemented best practices around preventative or predictive maintenance will be gobbled up by their better performing competitors, will be acquired by PE firms who will then trim the excess fat, or simply go out of business.
What do you think? What areas of manufacturing or maintenance do you think will become extinct in the next decade or two?
Many industrial manufacturing companies run a reactive maintenance organization. That means they wait for things to break before replacing parts. Studies have proven that running a preventive maintenance plan reduces expenses by up to 75% in the long run. The challenge is that many of the Preventive Maintenance schedules were developed on intuition. Changing the oil filter once a year is enough. Most organizations are sitting on a wealth of data like prior downtimes (failures), work orders, parts, and the rich information captured in the indicators / meters.
Predikto has the skills and technology to analyze the maintenance data in order to provide a preventive maintenance plan and predictions to help reduce failures and reduce the overall cost of maintenance.
With Predictive Maintenance, organizations can spend less time and fewer resources repairing things too early or avoiding fixes when it is too late. Industry studies have documented cost reductions in the 3-5X range for catching problems early as opposed to catching a problem once there is significant damage to the equipment. Companies can spend more time focusing on what will happen next and be smarter about the preventive maintenance. It is much easier to fix a problem before it happens rather than reacting after the production floor has come to a screeching halt.