Supply chain logistics is defined as the design, planning, execution, control, and monitoring of supply chain activities to increase customer value and reduce costs. Building a competitive supply chain infrastructure is important for every industry and requires companies to make sure their supply matches the demand for their products and that the delivery and storage of their products is timely and effective. This is an especially vital balance for manufacturers to get right as they often work with high-cost materials and more complicated supply chains.
The cost of failing to manage supply chain systems effectively can be enormous. When goods don’t arrive on time or are out of stock, customers shop elsewhere, but if manufacturers produce too much, their overhead for storage and transportation skyrockets. Taking all possible variables into account is critical to maintain steady prices and stay profitable. When done well, manufacturers operate with as small a footprint as possible while still being able to scale to rises in demand. When done poorly, supply drops, prices soar, and companies suffer. In 2018, supply chain interruptions occurred at a record rate of nearly 30%, costing billions in delays and wasted product.
Keep reading to learn how implementing a predictive maintenance plan can solve a big piece of the supply chain puzzle.
Plan for Downtime on Your Terms
Predictive maintenance programs work with IIoT-enabled devices to track machine performance data and provide insight into appropriate maintenance schedules. Common wisdom might suggest you should only perform repairs when absolutely necessary to get the most out of your machines, but when included in the supply chain equation, manufacturers must make smarter decisions based on peak demand cycles. Planning for routine maintenance during slow seasons can significantly reduce the losses sustained from having to shut down for repairs during peak production times. Advances in cloud data storage and machine learning algorithms are making it even easier for these sides of the business to communicate directly so that companies can maximize output and minimize machine breakdowns.
Stop Supply Chain Disruptions on the Factory Floor
According to an Allianz business report, factory fires accounted for an average of 59% of business interruptions annually from 2010 – 2014, making it the number one cause of disruptions. While advances in fire prevention and response have improved factory conditions and reduced injuries to workers, it’s undeniable that this, and other breakdowns, are still a significant problem. Machine breakdowns ranked number 3 on the same report. Predictive maintenance software and IIoT-enabled devices allow manufacturers to gain real-time insight into the condition of their machines while they are in use. Some applications allow for temperature monitoring to determine mechanical equipment health.
Collect Data for the Future
If supply and demand were constant year-round, then it would be easy for manufacturers to know exactly how much of a product to produce and when, but the reality of global economies is such that demand fluctuates constantly. As machine learning advances, new programs will be able to make even smarter predictions about customers’ buying patterns and utilize this data to maximize the efficiency of the production line. However, they will only be as good as the data that they have to work with. Creating a strong, disciplined data collection program is a sure-fire way to future-proof your production line so that you will be able to identify problems before they become long-term issues. Predictive maintenance programs collect and store vital data to help manufacturers stay competitive in an ever-evolving marketplace.
Are you and others in your organization getting the data you need to make the right decisions? Contact the professionals at GTI Predictive today to add high-quality, consistent condition monitoring and machine health data to your predictive maintenance program.
About GTI Predictive Technology
At GTI Predictive Technology, it is our mission to provide the best predictive tools on a single iPad platform with services to monitor nearly any asset. We strive to bring our customers the portability, connectivity, and affordability offered by the latest available technologies. Our product family combines wireless portable and online vibration data collection and analysis, balancing, shaft alignment, thermography, and ultrasound into an affordable and completely scalable solution on one simple to use platform. GTI’s predictive technology apps feature many additions that have come directly from customers. Click here to learn more.