Preventative maintenance can extend the life of machinery and equipment. However, most companies are never aware of how much it benefits the company. You see preventive maintenance results in a staggering 545% ROI. There is so much that your company can gain from both preventative and predictive maintenance.
So, predictive vs preventative maintenance? Which one should a company choose between the two? Most companies struggle to understand the difference.
If you’re one of them, we have an in-depth guide that will help you understand. Keep reading to find out about predictive maintenance vs preventive maintenance.
The Importance of Predictive and Preventative Maintenance
Maintenance is an integral part of every industry. Whether it’s in manufacturing, food production, mining, or processing. Proper maintenance helps eliminate some major problems.
One of the most considerable being downtime. When your equipment fails, integral machines break down and halt production. This could result in major losses.
With proper preventative and predictive maintenance, you can easily mitigate downtime. You can avoid catastrophic failures that could lead to production losses.
The thing is, if you get maintenance wrong, it could end up costing you much more. You see, about 82% of companies have experienced downtime at one point or the other.
With halted production, no value is being produced. However, a company still incurs overhead costs, which impacts the company’s bottom line. In industries like manufacturing, the cost of downtime can run as high as $260,000 an hour.
With downtime, you would have to deal with lost productivity. You’ll contend with costs associated with repairs or replacing the equipment. Moreover, you’ll have to deal with labor costs to get back up and running.
When maintenance is done properly, you prevent these failures and losses from happening. This will give you the ability to control downtime and carry out repairs or replacements at appropriate times. Below we’ll discuss preventative and predictive maintenance, their fundamental differences.
What Is Preventative Maintenance?
The principle of the preventive approach is to stop these failures from having a dire impact on your business. You’ll stop a catastrophic impact from hitting your business.
Preventative maintenance mostly hinges on regularity. You’ll take the expected lifespan of your equipment and all the parts, then use it to your advantage. This involves ensuring you repair or replace the parts on time before they wear out.
You’ll prevent the extent of failing and breaking down of the whole equipment. This means that you’ll be making changes and repairs at planned regular intervals.
This ultimately minimizes the risks of equipment breakdown. It ensures you achieve your expected mean time between failures. You’ll stop trying to fix equipment when they fail, which could be at the most inconvenient time. Instead, you’ll schedule routine maintenance.
What Is Predictive Maintenance?
Predictive maintenance, on the other hand, goes a step further than preventative maintenance. It’s part of the same process, but you will have a more adaptable and flexible approach. Predictive maintenance goes deeper into the details.
It works on the approach that you can predict events and stop them from happening. Instead of scheduling regular maintenance and repairs, you’ll use data to your advantage.
You’ll leverage data to check the previous component failures and breakdowns. You’ll know when to do the next maintenance.
Most companies use predictive maintenance software to get real-time data. They use this data to keep tabs on the condition of their equipment and machinery.
With predictive maintenance software, it’ll be easy for you to check for trends. You’ll understand when your equipment is most likely to break down.
Check more information about predictive maintenance software. With this information, you’ll be able to make repairs at optimal times. In turn, you’ll keep operations ongoing with as minimal disruption as possible.
Predictive Maintenance vs Preventive Maintenance: The Benefits
Both predictive and preventative maintenance comes with numerous advantages. Whichever you choose, you’ll focus on extending the time between breakdowns.
This will essentially reduce unplanned downtime. Accept that certain mechanical failures don’t have to happen as long as you have proper plans. There are many benefits of preventive and predictive maintenance.
For instance, you’ll be more proactive and cause fewer interruptions. Additionally, you’ll reduce the mean time to repair and extend the mean time between failures. Moreover, you’ll optimize operational costs and increase machinery lifespan.
Benefits of Preventative Maintenance
If you choose a preventative maintenance approach, you’ll get benefits over the predictive outlook. Preventive maintenance is easier to plan. The thing is, you’ll do it at the same time because you know what the equipment will be down.
Predictive maintenance is also cheaper to implement because you don’t need data analytics. Moreover, it’s less complicated because all you have to do is schedule regular maintenance. A lot of companies prefer this approach as it’s easier to plan.
Benefits of Predictive Maintenance
Predictive maintenance also comes with its fair share of benefits over preventative maintenance. To begin with, you’ll make more impactful repairs. You’ll remove the risk of removing parts that are still functional.
This will essentially eliminate wastage and save your business costs. You’ll reduce overall downtime and lower overall maintenance costs.
Predictive vs Preventative Maintenance
It all starts with having the right products and services. Make sure you utilize the right predictive maintenance software and focus on both quality and reliability. Compare companies that offer repair and maintenance solutions.
You’ll discover everything you have to do to carry out both predictive and preventative maintenance the right way. Additionally, you can go the extra mile and offer training solutions for your staff. They can learn how to minimize downtime and take the most effective approach.
Predictive vs Preventative Maintenance: Everything You Need to Know
So, predictive maintenance vs preventive maintenance, which one should you choose? Both options can work incredibly well for you as long as your plan is appropriate. Compare the benefits each one has to offer, and decide which one works best for you.
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