Illustration: © IoT For AllAccording to a report by market research company Vanson Bourne, unplanned machine downtime costs manufacturers $260,000 for every hour of lost production, and 82% of manufacturers experience machine downtime at least once each year. It’s a highly costly and common problem, but there is a viable solution that begins with advancing beyond outdated maintenance methods through IoT.Moving Beyond Reactive and Preventative MaintenanceTraditional approaches to machine maintenance don’t do much to limit or remove unplanned downtime. For instance, with a reactive approach, technicians only step in once the minutes of rest start adding up.A preventive …
