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Organizations use multiple maintenance strategies to ensure the most cost-effective solution for each asset. Sometimes, companies find themselves using reactive maintenance because they’ve experienced equipment failure. Most businesses use preventative maintenance to schedule maintenance before a failure occurs. Some enterprises are also implementing predictive maintenance by deploying sensors and other IoT devices to collect data. TheRead more

Predictive maintenance as an asset management strategy relies on operational data to determine when an asset requires attention. Its goal is to reduce operational disruption because of unplanned maintenance. However, data collection and analysis can also play a role when it comes to environmental, social, and governance or ESG planning. What is ESG? Environmental, social,Read more