MRO through Digitization – The jumpstart
"It's never too late to catch up" perfectly suits the MRO sector (Maintenance, Repair and Overhaul / Operations), the industry is gradually catching a trend in the use of digital technology. As per the global survey, the MRO industry expects to grow at a CAGR of 2.13% during the forecast period (2019 - 2025). Today the MRO services are considered as an investment rather than an expense. The substantial paradigm shift forecasts a healthy growth of backend processes of various industries.
Current MRO Optimization Challenges:
Digitization in MRO
- Efficient spare part planning and controlled maintenance
- Inconsistent lead time
- Forecasting the tools for the upcoming project
- Diversity in equipment
- Safety & concern
- Manage machine downtime
The current demand for software solutions around MRO services categorized into the following categories:
- Performance Monitoring
- Predictive, Prescriptive & Condition-based Maintenance Analysis
- Mobility and Functionality
- Operation Analysis
The latest technologies (Edge/Cloud-based solutions, IoT, AI, AR/VR, Digital Twin, 3D printing) help smoothen the MRO services to increase reliability, efficiency and productivity. Big data analysis helps strengthen Condition-based Maintenance in the industry by providing insights to enhance supply chain operations and reduce delays.
Aximind's Remote product and solutions developed, looking at the critical aspect of MRO services. In the time of Covid19, when everything is going remote for seamless integration, Aximind solutions provide clarity on the criticalities, repair alerts, obsolete inventory practices and equipment stocking information.
Industries that can also benefit from Aximind's MRO solutions are
- Oil & Gas: The industry is facing challenges of process and system involved in exploration, production and asset management. Aximind's remote asset management solution supports both upstream & downstream in O&G. With rich experience in the area of AI, IoT, automation and analytics help to enable the solution through remote inspection and capture real-time data from various assets across diverse locations to identify deviations and act proactively to avoid anomalies and failures.
- Chemicals: The industry is highly volatile, and hence there are high chances it is struggling to meet goals of production planning and quality controls. SCM consider as crucial in MRO services, the production will drop dead if any item is out of stock, hence stocking items beforehand will prevent downtime, but provide on-time deliverables and save time. Aximind aims to improve operational efficiency and effectiveness by enabling data-driven decisions at strategic, functional, and tactical levels.
- Energy: The industry is quite complex due to the ever-growing energy demand. Smallest of mistakes can cause a significant amount of loss in this sector as many other sector rely on its source. Remote inspection is considered as the substantial need in time for this industry as one of the reason is the location of setup. Aximind software provides isolated inspection of natural gas, wind and water for natural gas, wind and water turbine, solar panels, nuclear decommissioning, hydrogen fuel cells for efficient working around the clock. It provides interrupted support and feedback in real-time; it also helps the technician by crunching the data and provide valuable maintenance assistance.
- Automotive and manufacturing: Maximum companies are outsourcing the maintenance, repair and operations as in house system lacks application expertise. With the increase in digital innovation in this sector, OEMs need to align with a cohesive platform and processes to enable consumer value, data privacy, easy maintenance, and continuous product updates. The industry has witnessed a significant change is the adoption of digital technology. Introduction of digital twin & predictive maintenance has drastically improved how the automotive and manufacturing industry works. The data aggregated from sensors, ERP/MES to central repository system . Aximind’s predictive maintenance tool analyse and post up the optimal solution for various situations resulting in an efficient ecosystem.
Be it any industry's predictive maintenance, supply chain or optimization, and digitalization is making considerable waves in MRO. Machine learning, AI and business analytics solutions could significantly speed up productivity. However, the target of the industries is to keep a sharp eye on achievable progress without getting distracted by the "next big thing."