Predictive Maintenance: A Key to OTIF Success
OTIF is a Challenge
Complying with strict On Time, In Full (OTIF) compliance is crucial for every supplier. With major retailers enforcing stricter rules, staying ahead of the game is becoming harder than ever.
That is where predictive analytics maintenance (PdM) comes in. This innovative approach uses data-driven insights to prevent equipment failures before they happen. By using sensors and analytics, predictive maintenance can accurately forecast when equipment is likely to malfunction. This gives you the power to take proactive measures, such as scheduling maintenance during off-peak hours, to prevent costly breakdowns that can leave your trucks stranded.
Three Advantages of PdM
Predictive maintenance offers several key benefits that enhance your operations. First, it can minimize downtime by preventing breakdowns. This means your equipment keeps running smoothly, saving you the grief and hassle of unplanned repairs which can throw your OTIF schedule way off course.
Second, it optimizes inventory management by providing accurate predictions of potential equipment failures. With this information, you can ensure you have the necessary spare parts readily available, minimizing downtime and disruptions.
Third, predictive maintenance enhances supply chain visibility by delivering real-time data on the status of your equipment. Knowing all that information, you can make better decisions regarding resource allocation and more easily meet your OTIF targets.
It's Not as Scary as It Sounds
Preventive maintenance planning can be overwhelming if you have not considered it before. Here is an overview of the process to make it easier to understand.
Experts recommend starting by identifying the critical processes and machinery that keep your business running. Then, you will need to install sensors or other tools to collect baseline data. You may be able to do this with you own people and machinery or hire an outside company to help.
Next, use data analytics software to examine the information collected by the sensors. This analysis will help you identify patterns that may indicate underlying problems.
Finally, when something goes wrong, the software and sensors will alert the appropriate group. This group can then take immediate action to prevent further damage or disruption. By doing this, if a potential issue arises, they can schedule maintenance or replace machinery as needed.
In addition to the benefits mentioned above, predictive maintenance also enhances safety, reduces costs, and improves asset performance. Of course, all of this comes at a price. You will want to consider weighing the benefits against the cost of specialized sensors and any other extra equipment.
Some Things to Consider
Despite these challenges, predictive maintenance remains a powerful tool for enhancing your supply chain. If your goal is to achieve better OTIF compliance, you might want to consider taking a serious look at predictive maintenance. We understand that predictive maintenance is not for every business, but regardless of what you produce, staying on top of those nasty OTIF fines and deductions is a challenge all by itself.
Harvest Revenue Group (HRG) has the expertise and technology to catch those incorrect charges and fines. More importantly, we make it easy to recover your money so you can put it back to work for you.