How to maximize machine and component life in manufacturing

Replacing components on a schedule throws money in the form of perfectly usable assets into landfill.

The cost to manufacturers is clear. Machines are expensive. Even if it’s simply replacing a $100 component, the real cost includes time and money to specify, source and fit. If manufacturers are running a full production schedule it also includes hugely expensive and unnecessary line downtime replacing existing parts that may have a substantial remaining service life.

The cost to the environment can also be significant. Whilst some machines can be resold or upcycled, and it is possible to recycle or remanufacture components , some can only be landfilled. There’s also the potential for spills and leaks in the process.

If a business uses 40% fewer components, it is spending 40% less on associated operational expenses.

Some firms have already been able to reduce component waste and increase asset lifetime using Industry 4.0 analytics techniques, as highlighted in our new report exploring sustainability challenges in manufacturing.

One critical insight from the report is that efficient manufacturing is not as simple as ‘old is bad, newer is better’. By using sensors and analytics, leading industrial organizations are able to manage older assets more effectively and efficiently, making them more economical for much longer than their original service lifetime.

Using industrial analytics to get precise figures and predictions for machine energy use, production rates and remaining serviceable life, businesses can calculate precisely when capital investment in new machinery begins to make commercial sense, as well as how existing asset investments can be further sweated.  

The report and video also look at:

  • Analytics to keep machines and components running optimally and maximize life-span
  • Predictive maintenance to identity the best time to replace components
  • Making accurate predictions of what’s likely to happen in the future based on current condition and behavior
  • Successfully retrofitting Industry 4.0 technology to older assets

For the full report, click here. For a video on maximizing the life of assets and components, click here.