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Predictive maintenance business model

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What will be the future source of value added in predictive maintenance? Are the business models are primarily shaped by Software OR Hardware vendors will derive the greatest benefits from predictive maintenance?

Kishor Akshinthala
13 months ago

4 answers

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The advances of communication networks, storage strategies, and security are enabling further infrastructure capacity for automation, connection and scalability leveraging software that continues advancing. These advances are/will be positioning more and more companies for stronger/more proactive predictive maintenance. Organizations looking into the future are monitoring the introduction of next generation of technologies (like Software Define Quantum Communications; Software define radios and networks) that will enhance their ability (capacities and capabilities) to provide the expected system(s) reliability. Preventive maintenance is part of a reliability management program.

Norma H. Antuñano
13 months ago
Agree with your point of view. In my view predictive maintenance is characterized by shorter lifecycles and disruption from its tight coupling to Digital technologies. While the core remains the same but the means will evolve in continuum. Given general uncertainty about the extent to which the requisite sensors and their connectivity technology can be retrofitted, or whether new installations mus - Kishor 13 months ago
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It is true that software and communication systems are improving the data collection and analysis that will lead to better predictive maintenance. This data is being collected directly from the machines and automation itself and populating software automatically allowing for improved trouble shooting and better predictability.
I think this will continue to include the maintenance, repair and overhead (MRO) Supply chain by allowing a company to order spare parts based upon predictive data. This will greatly improve the inventory cost of keeping all critical spare parts on the shelf. Up coming, there will be whole data driven strategies of managing MRO materials.
Also, people still play a big role in making this future successful. Properly maintained machines (available run time) are only 1/3 of the productivity equation. Yield (quality) and Rate (potential run speed) are the other two. The data collected has to include elements of these other two variables in order to drive the behaviors necessary to be successful.

John DuBois
13 months ago
You narrated the nuances of predictive maintenance model well. In my view in the nearterm software is going to primarily shape the predictive maintenance business models - Kishor 13 months ago
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  1. Primarily Industrial capital equipment vendors like turbine,pump,utility packages, printers...manufactureres will add value to their Annual Maintenance Contracts by online monitoring of wear and tear along with down time optimisation of assets.
  2. Software advances in big data analytics and storage will be exploited by theequipment vendors.
  3. Advances in Iot and data communication will help the equipment vendors to realize their value added AMC packages.
  4. Utilities will be able to manage their assets by optimising OPEX by spending less on spares stocking as well as improving stability of grid operations.
  5. All the above are based on the assumption that advances in cyber security keep pace with other trends.
SANTHIRAJ SATHANNA
13 months ago
Nive summary. Cloud-based vs edge-based analytics is one of te key aspects of predictive maintenance. To eliminate the guesswork and truly evolve into a predictive enterprise, organizations apply modern, edge-based architectures designed to capitalize on streaming machine sensor data to instantly deliver actionable insights in time to predict and avoid any any unplanned maintenance and downtime. - Kishor 13 months ago
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What will be the future source of value added in predictive maintenance?
Ans: value addition is expected as a precondition
for efficient, sustainable service delivery in the future. Progress in the technologies required by PM is
swift and significant. Yet there are still gaps in the way data is translated systematically (or not) into
(customer) benefits, as well as in implementation in specific business models.
Are the business models are primarily shaped by Software OR Hardware vendors will derive the greatest benefits from predictive maintenance
Ans : Most Organisation and group Companies expect that PM business models will be shaped mainly by software capabilities, believing that hardware's share of value added will gradually erode

sdl inc
13 months ago
Your views are reflecting the current state of PM. The data challenges for PM are multifold. It’s difficult to obtain high quality, labeled data from industrial machines to begin with. What is more challenging to then apply that data to provide human engineers and technicians with relevant and actionable condition-based maintenance insights. - Kishor 13 months ago

Have some input?