The cost of unplanned equipment downtime is staggering. Take the manufacturing sector for instance – the International Society of Automation (ISA) estimates that manufacturers lose $647 billion globally every year to downtime.
To combat this challenge, companies are now taking a more proactive approach to their maintenance strategy. Instead of waiting for equipment to fail before repair (reactive maintenance) or replacing parts on a strict time-based schedule (preventive maintenance), they are using intelligent devices and systems to predict and address problems before they occur (predictive maintenance). Continue reading here