Overview
How 3 Organizations Succeeded by Developing Proactive Preventive Maintenance Strategies
An abundance of data does not generate value for an organization. It’s the process of analyzing data that generates the necessary insights that drive a strategy for change and improvement.
According to the McKinsey Global Institute, manufacturing companies could achieve up to 50 percent lower costs in product development and up to 25 percent lower operating costs – if they can deploy the potential of their data.
To that point, organizations that take the steps to replace or repair their equipment only after it has failed will spend more time, money and other resources than those that have a proactive preventive maintenance strategy in place. Preventive maintenance helps companies save the life of their assets and reduce unplanned downtime.
In the snapshots below, we illustrate manufacturing challenges across industries that motivated teams to dig into their data to craft preventive solutions using visual and analytical tools Minitab Statistical Software.
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