Many industries across the world manufacture many things, provide services, etc. Many operations are occurring in every industry. It is not necessary that every industry has only one site as many industries have their multi-site across the world. There is a concern in having a multi multi-site of an industry or business as it is not easy to maintain every site. Owners cannot visit every site because it takes too much time to travel from one place to another and also cannot place trustworthy and qualified employees everywhere. There is a need to develop a centralized hub that controls all operations of multiple sites. This only can be done through the use of technologies and not only one, it needs the integration of many technologies. Predictive maintenance solutions can be the tool that can solve this problem even contributing in many parts of the world in multi-site operations maintenance.
Global Predictive Maintenance Market size was valued at USD 5.77 billion in 2022 and is poised to grow from USD 7.57 billion in 2023 to USD 66.46 billion by 2031, at a CAGR of 31.2% during the forecast period (2024-2031). Also with the predictive maintenance solutions, Roughly 10% (and maybe even less) of industrial equipment ever actually wears out, meaning a very large portion of mechanical failures are avoidable. Predictive analytics yields a tenfold return on investment, and it results in savings of 30% to 40%.\
In this article, we will see how predictive maintenance solutions can manage multi-site operations in different industries. Also, we will see every aspect of predictive maintenance in multi-site operations.
What are Predictive Maintenance Solutions
Simple predictive maintenance-based solutions are developed to prevent equipment failure and downtime by connecting IoT-enabled enterprise assets, doing advanced analytics on the real-time data they provide, and using the resulting insights to guide informed, economical, and efficient maintenance processes. Artificial intelligence (AI)-based analytics are applied to sensor data and business operating data by predictive maintenance solutions to extract insights. This tool is a mixture of different technologies that help to maintain the multi-site operations through a center hub.
Why are Predictive Maintenance Solutions Important for Multi-Site Operations?
If an industry has a multi-site then it is not an easy task to maintain the operations of every site. It needs something that can provide data, analytics, predictive analysis, and possible outcomes. Predictive maintenance solutions can fulfill all needs mentioned earlier, this is why they can be a very crucial factor in multi-site operations maintenance across the different industries of the world.
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Types of Predictive Maintenance Solutions
Three types of predictive maintenance solutions are mentioned below.
Corrective Maintenance Solutions
Corrective maintenance solutions are a type of predictive maintenance solution that comes into play when a fault is detected in the equipment of any machine. This mostly works on the Internet of technology that can detect the problem.
Preventive Maintenance
Preventive maintenance focuses on reducing the likelihood of equipment breakdowns by preventing potential issues from arising in multi-site operations. With the help of technology, it always provides the data if any risk factor occurs.
Risk-Based Maintenance
Risk-based maintenance is a type of predictive maintenance solution that aims to address risk-sensitive systems and machinery. This is a very important aspect to prevent machines from any potential damage.
Features of Predictive Maintenance Solutions
Predictive maintenance solutions possess some potential features as here are a few keys mentioned below.
Data Analysis
Predictive maintenance solutions are a mixture of different technologies in which AI provides the ability to analyze data. With the help of this ability, predictive maintenance-based solutions or software can analyze data and identify operational anomalies and potential equipment defects, enabling timely repairs before failures occur.
Security
Security is another characteristic of predictive maintenance solutions as the integration of Artificial intelligence and IOT can add an extra layer of security to the industry data so that any outsider cannot breach the data.
Predictive Nature
As it is named predictive maintenance solutions then surely it can predict. With the help of this ability, it can predict the possible outcomes of any operations. The most interesting thing is that all operations outcomes can be managed through a central hub in any corner of the world.
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Benefits of Predictive Maintenance Solutions for Multi-Site Operations
Above mentioned features of predictive maintenance solutions are very beneficial to managing multi-site operations without too much hassle. Here are a few benefits mentioned below.
Longer Life Span of Equipment
With the involvement of AI and IoT, any potential risk factor can be detected with the analysis of data. This prevents machinery damage and overall increases the lifespan of equipment inside an industry. In the multi-site industry, it takes a lot of capital to manage the whole operations so any potential damage in machines is too hard to bear.
Data Availability
A person cannot manage the operations from a central hub without having proper regular data on multi-site operations. However, with predictive maintenance solutions, data availability is more efficient as every bit of data is available to the central hub.
Budget Control
As mentioned earlier, it takes a lot of capital or finance to maintain multi-site operations. So any error in machines by any means like improper analysis of data, not detecting risk, etc can cause vast damage and reduce revenue generation. But with predictive maintenance solutions, every risk can be detected and can prevent overall control of the budget.
Challenges with Predictive Maintenance Solutions
We have seen the good side of predictive maintenance solutions but it has also had some challenges as here are a few challenges mentioned below.
- Initial investments can be very costly that affect the capital overall. Many multi-site industries cannot bear the cost of implementation of this technology.
- Providing computation resources is also a concerning thing as it takes many advanced computational resources that are difficult to find at a place.
- Adoption is another challenge as it is not easy to adapt quickly. Employees are not trained for this so it takes time to train them.
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Final Thoughts
Predictive maintenance has the potential to enhance your overall reliability and maintenance program in multi-site operations by streamlining procedures and boosting output through the use of best practices and technology. The top advantages of predictive maintenance include the following: lowering unplanned failures by 55% and raising asset uptime by 30%. Overall, this is one of the best examples of the use of technology as this serves industries to enhance their operations. The best industries enhance, that overall make a positive effect on world GDP and development.
