ARLINGTON, Va., June 27, 2022 (Newswire.com) - Predictive maintenance (PdM) is quickly growing in importance as a solution to increase uptime and production output and improve product quality in the manufacturing industry. A new report from the Manufacturers Alliance Foundation and Advanced Technologies Services, Inc., "Predictive Maintenance Strategies Gain Ground," outlines the multitude of benefits that manufacturers are seeing as they advance to more data-driven predictive maintenance. This report also shares the challenges that manufacturers face moving from pilot PdM projects to full rollout, the need to bring in new data-savvy talent, as well as upskilling to continue to make progress.
"Manufacturers are facing so many challenges — the talent crisis, supply chain issues, high backlogs, rising prices. Predictive maintenance is proven to mitigate these challenges by improving quality and reducing costs. Predictive maintenance is definitely at the forefront of the next phase in the smart factory journey," notes Stephen Gold, President and CEO of Manufacturers Alliance and the Manufacturers Alliance Foundation.
Key findings from the report include:
- 95% of manufacturers surveyed increased productivity by implementing predictive maintenance.
- Operational benefits ranked the highest in the benefits of implementing predictive maintenance, with 50% of surveyed executives noting improved uptime and increased production output.
- For 90% of respondents who have started predictive maintenance, their investment generated a return on investment in under two years, and many (39%) saw an ROI within one year.
- 75% of respondents noted the need for more technologically skilled talent to continue to make progress with predictive maintenance.
"We're seeing the traditional world of labor-based maintenance changing to a more data-driven approach," said Micah Statler, Director of Operations, ATS. "Advancements in PdM technology are making it easier and more cost-effective for manufacturers to benefit from increased uptime, productivity, and ROI."
About Manufacturers Alliance Foundation
Manufacturers Alliance® Foundation is the 501(c)(3) partner of Manufacturers Alliance. The Alliance Foundation provides educational opportunities for the manufacturing community and its stakeholders through insights, events, and tools for today's most critical business decisions. The Alliance Foundation focuses on talent, technology, digital transformation, and competitiveness. Learn more about the Alliance Foundation: manufacturersalliance.org/foundation.
About Manufacturers Alliance
Manufacturers Alliance® powers leaders. We bring together an unparalleled network of manufacturing executives to advance their careers, grow their companies, and support the whole community. We accomplish our mission through peer communities, education, and business insights on the topics that matter most to the sector. Learn more: manufacturersalliance.org.
About Advanced Technology Services, Inc.
Advanced Technology Services, Inc. (ATS), is a leading industrial services provider with over three decades of proven experience in technology-driven industrial maintenance and MRO asset management. Through a technically skilled workforce, best-in-class processes, and Industry 4.0 technologies we deliver increased asset performance and productivity to many leading process and discrete manufacturers. ATS is headquartered in Illinois with regional offices located throughout the U.S., Mexico and U.K. Learn how we make factories run better and smarter at www.advancedtech.com.
Kristin Graybill Advanced Technology Services, Inc.
Manufacturers Alliance firstname.lastname@example.org
Source: Manufacturers Alliance