Today’s advancements in technology (e.g. IoT, edge devices, sensors, etc.) have enabled various industries within the manufacturing sector to have more access to data and effectively use it to provide insights as to how equipment is performing. Being able to spot impending failures before they happen helps mitigate high maintenance costs, unplanned downtime, loss of production or safety and environmental implications. However, to take advantage of this technology, it is imperative that a complete and accurate equipment maintenance strategy be in place to implement the right technologies for the right equipment failure modes, and that it be executed at the right frequency to gain improvements.

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