Now that we know how telematics technology assists fleet managers in successfully making their industrial equipment run more efficiently, more productively and safer, let’s learn how it can be used to create a predictive maintenance program that can help a business save hefty amounts of money.

What Is Predictive Maintenance?

What if there was a technology that could assist businesses in managing their equipment assets to perform maintenances before a major issue that could potentially sideline one or more vehicles to days or weeks of downtime for repairs? You’re probably already calculating how this capability could save lots of money and productive time for your business.

Well, that’s what predictive maintenance, an expansion on Preventative Maintenance (or PM) can do. Technology, including the Internet of Things (IoT), is used to monitor the state and function of each vehicle of your assets. This technology then collects all of the data that pertains to each asset, analyzes it along with the maintenance history, and uses machine learning to forecast patterns to assist you in determining when minor maintenance is necessary so that you prevent significant trouble later.

The data collected is reliant upon the equipment type, its maintenance history, and the environment in which it is operated. A computerized maintenance management system (CMMS) takes that information and analyzes it and then generates reports that help supervisors and managers determine when predictive maintenance of their equipment is required.

Predictive maintenance systems use sensors to observe conditions of a vehicle, for example, including the engine and components and assists in identifying what needs to be repaired or what parts need to be replaced. This remote capability of recognizing possible issues before they happen results in less downtime to diagnose the trouble and allows asset managers to focus time on just the repair.

Asset trackers, including GPS, are used to watch how the vehicle is being used in the field, including where it’s been driven and provides the environmental data necessary for calculating a predictive maintenance action.

Why Predictive Maintenance Is Essential For Business?

Predictive maintenance offers a variety of benefits that would make a chief financial officer smile.

• • It ensures that a company’s fleet is on the road and not sidelined for repairs.
  • It identifies possible mechanical troubles before they become major, resulting in a decrease in maintenance costs.
  • It reduces the need to inventory an abundance of spare parts or outsource other maintenance companies to manufacture and provide those costly parts.
  • It reduces downtime and maximizes uptime
  • It Limits costly, unplanned maintenances.
  • It allows you to schedule maintenance services so that the vehicle’s driver is on the road rather than doing nothing on the company’s time.
  • It ensures that the equipment within a fleet is always in good condition and not a safety hazard.
  • It prods fleet management to continuously focus on the health of the fleet with real-time information and regular reports.
  • It ensures that the vehicles of the fleet use less fuel resulting in lower fuel costs.

You can consider predictive maintenance as a company policy of minimizing. Minimizing the time the vehicle is being maintained, minimizing the production hours lost to maintenance, and minimizing the cost of spare parts and supplies.

In Conclusion

Finally, there’s a positive effect on the return of investment (ROI). Studies have shown that predictive maintenance results in a tenfold increase in ROI. Also, it results in a 25% to 30% reduction in maintenance costs, a 70% to 75% decrease of breakdowns, and a 35% to 45% reduction in downtime.

Access is the only fleet management provider to offer a complete line of telematics devices that help fleet managers curb costs with predictive maintenance. All data is displayed in our cloud application, AssetPro360 that connects to our entire range of products.

For more information on Access Control Group and its devices, visit the company website, or contact an Access representative.