CHALLENGES WITH CURRENT METHODS
- Reactive Maintenance
Most enterprises start with this method. Repairs and replacements are made to the equipment after a failure occurs. This is not an optimal solution as it costs at least 10x more to repair equipment after it fails.
Moreover, any machine downtime directly impacts revenue and customer satisfaction.
- Preventative Maintenance
Enterprises consider this the next best solution after reactive maintenance. Equipment is repaired or replaced at predefined time intervals based on expert knowledge.
- Enterprises often schedule repairs or replacements when nothing is actually wrong with the equipment, making this approach very expensive.