Improve Reliability in Chemical Manufacturing with Predictive Asset Analytics
This is the final blog in a four-part series on digital transformation in the chemical industry. If you missed them, check out the first blog “Chemical Companies Deliver Outstanding Customer Experiences Through Digital Transformation” , the second post “5 Benefits of Digital Transformation in Chemical Manufacturing” and last week’s post “Augmented Reality in the Chemical Industry” . If you’re like most chemical companies you probably have a good bit of capital tied up in your MRO inventory. The question is whether or not you really need to keep that capital tied up in that inventory or not. A recent ARC reliability study showed that 82 percent of all assets have a random failure pattern. That means that even with all of the preventive maintenance, careful logging and reporting of service records, the very best maintenance, reliability and operations personnel simply can’t account for those random failures that no one sees coming. Or can they? See the benefits predictive a...