Importance of Asset Condition Monitoring in Industry 4.0 Era

By admin_user In Asset Tracking Software, Industry 4.0 On September 26, 2022

Traditionally, manufacturing relies on manual health checks or scheduled maintenance to optimize productivity. Industry 4.0 is often used synonymously with Manufacturing 4.0 where the focus is more on improving operational efficiencies through automation. Here asset condition monitoring plays a crucial role which is a key IIoT technology of Industry 4.0. It is one of the essential aspects of predictive maintenance strategy as it monitors a parameter of condition in machinery. 

Earlier, the asset monitoring strategy was used to include non-invasive measurements, visual inspections, performance data, and scheduled tests which need to be completed at pre-set and predetermined intervals. Nowadays, Condition Monitoring is utilized which measures specific equipment parameters like vibrations,  temperature, or the condition of the oil in a machine. It takes note of any significant changes which can indicate an impending failure

The primary goal of condition-based monitoring is to predict upcoming equipment failures so maintenance can be scheduled when it is needed – and not before. Condition Monitoring can be known as preventive maintenance as it avoids unexpected failure in the future. 

Before moving forward, let’s understand the importance of condition monitoring. 

Asset Condition Monitoring: Why it is Required

Asset Condition Monitoring is the data collection function that sustains machine reliability. In the current market, Industrial IoT Solutions are enabling condition monitoring with constant advancement. IoT-based condition monitoring is an integral part of industrial success as it involves great advancements and parameter checks which maintain the health of assets efficiently. It leads to better analytics and enables users to make informed decisions in advance to prevent degradation of the equipment.

Execution of condition monitoring is not limited to running the whole systematic procedure. It refers to a cultural shift-from predictive maintenance to preventive maintenance. Condition Monitoring goes through multiple steps starting from provisioning the right equipment to training technicians for performing investigative work based on data insights. As a result, users can take consistent and timely actions for their organizations. 

Here are the necessary aspects to implement condition monitoring successfully.

  • Identification of Critical Assets which needs monitoring and related potential risk while operating
  • Collecting condition monitoring data with test instruments measuring a certain set of attributes
  • Train technicians to decipher and report the data of Condition Monitoring
  • Deciding the actions to be taken when Condition Monitoring data indicate inconsistency

Methods Used in Asset Condition Monitoring

There are two primary methods used to perform condition monitoring.

  • Trend Monitoring: This method involves the constant measurement of machine data and is used for further analysis. It refers to the quantifiable indication of component failure and trend study of the machine’s running time. This process is crucial for specifying the condition of asset monitoring when extreme deterioration happens.
  • Condition Checking: This method comprises checking of measurement using an acceptable indicator when the machine runs. It is also utilized for measuring machine conditions at a particular time. Abrupt breakdown always results in performance loss. Hence, IoT condition monitoring helps remove such abnormalities at a regular pace and thus avoids sudden damage.

Benefits of Asset Condition Monitoring

The reason asset condition monitoring becomes one of the crucial Manufacturing Industry Solutions as it provides a wide variety of benefits to enterprises. Below are some of the important benefits of condition monitoring. 

  • Extend Asset Life

Preventing unexpected breakdowns protects equipment’s physical condition. It reduces the cost of spares and increases the longevity of equipment. When assets are maintained without removing original parts, their lifespan increases. Furthermore, the extended lifespan reduces the operational cost of organizations.

  • Real-Time Asset Monitoring

IoT-based condition monitoring allows asset monitoring in real-time. Asset maintenance is only implemented when indicators such as temperature, vibration, and KPIsdo not match expectations. Condition monitoring allows access to ever-changing data of machinery. This data is useful for analyzing key performance indicators and enhancing the production process. This information helps in making informed decisions regarding equipment performance.

  • Reduced Maintenance Expenses

Sudden equipment failure is more expensive than regular maintenance as an asset needs to revert back to its condition as soon as possible. In asset condition monitoring, users get lots of data which assists in better asset monitoring. It saves maintenance expenses and gives a better knowledge of present asset conditions.

  • Prioritizing of Maintenance Task

If an organization doesn’t prioritize the maintenance of assets, they do this task on a first-come-first-serve basis. It causes hindrance in productive work as important equipment is waiting for maintenance which wastes time and delays production delays. That’s why prioritizing the maintenance of assets is crucial. Condition monitoring allows regular and reliable updates regarding your assets, so that the workforce can have a list of maintenance tasks with their priority. It saves time and money in the long term. 

  • Reduces Downtime

Timely maintenance of assets improves their performance and uptime. Hence, in order to reduce sudden equipment failure and downtime, it is crucial to perform maintenance on time. That’s how an asset condition monitoring system is a great help for enterprises and it is especially beneficial if your organization has abundant assets for an automated maintenance system.

Read More : How Industry 4.0 is Beneficial for Manufacturing Industry

Conclusion

Whenever we look at the benefits of Industry 4.0, smart asset monitoring is one of the key advantages for enterprises. Hence, condition monitoring plays a huge role in maintaining the asset’s health in the long term. Regular monitoring of assets leads to fewer failures which result in improved equipment availability and more efficient operations. Teams will be more informed about their assets and can make more confident decisions regarding maintenance.

Rejig Digital is a leading provider of robust IIoT solutions catering to various industry sectors including manufacturing, automotive, BFSI, chemicals, FMCG, healthcare, pharma, power, and transportation. Our goal is to empower modern enterprises to convert their intent into successful outcomes while generating profit, improving efficiency, and reducing operational expenses.

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