Staying competitive in production requires businesses to not only offer the highest quality product, but also to discover untapped efficiencies across the production process to reduce costs. A constant challenge that pressures profitability in the manufacturing industry is unplanned downtime from disruptive asset failure. This challenge stems from the lack of transparency into machine performance required to predict and prevent failures on the factory floor or across plants. One way that companies can minimize the risk of unplanned asset failure and damage is by using condition monitoring through digitalization.
Condition monitoring is the process of monitoring a specific asset’s parameters, including alarms and notifications on key performance indicators (KPIs) for anomalies against defined control ranges to provide performance transparency and inform when assets need to be inspected. Monitoring requires accurate and continuous input data from a wide variety of sensors and parameters in real time or near real time.
Digitalization is changing the industry landscape by opening the door to more advanced analytics and data collection directly from the shop floor. Now is the time to start your IoT journey. The trend toward digitalization of the world’s industrial plant facilities is already in motion and companies must get started quickly to remain profitable and competitive. Now operators can connect, collect and analyze data from aging as well as leading infrastructures to immediately monitor machines in one centralized location.