What is a Preventative Maintenance vs Corrective vs Predictive Plan

What is preventive maintenance?

Preventive maintenance is a regular activity designed to avoid surprise breakdowns in the future. In other words, it involves repairing things before they break down.

And why does it matter? Well let us give you some examples from our Agnico Eagle (The LaRonde Complex) case study.

Ever wondered about preventive maintenance?

It’s like taking your car for regular check-ups before it breaks down. For heavy industries, like Agnico Eagle, a leader in the Canadian mining exploration and exploitation fields, they know all about it. Their maintenance department has been pioneering innovative approaches to keep their operations running smoothly.

How Does Preventive Maintenance Work?

Preventive maintenance is all about staying one step ahead of potential issues. Agnico Eagle’s maintenance department has embraced digital transformation by implementing custom digital forms. They’ve moved away from industry-standard ERP software, which provided generic forms that were hard to personalize. With their custom digital forms, they have more control over their data and can personalize forms to suit their specific needs.

Types of Preventive Maintenance Explained

Agnico Eagle’s Digital Center of Integrated Operations is at the forefront of predictive and preventive maintenance trends. By leveraging maintenance inspection data, they can identify trends and patterns to predict potential issues before they occur. This proactive approach has helped Agnico Eagle save over $102,000 in the first year alone.

Examples of Preventive Maintenance in Action

When you have a big work site to manage, with lots of heavy machinery, equipment and personnel, without regular maintenance, those machines could break down, causing safety risks and compliance issues. In a word: chaos. Agnico Eagle knows this all too well. By using our custom digital forms and leveraging their Digital Center of Integrated Operations, they keep everything running smoothly, reducing downtime and maximizing productivity.

What Makes Predictive Maintenance Different?

Predictive maintenance takes preventive maintenance to the next level. With Agnico Eagle’s innovative approach, they can analyze maintenance inspection data to make accurate predictions about potential equipment failures. This allows them to take proactive measures to address issues before they become a problem, saving time and money in the process.

Understanding Corrective Maintenance

In addition to preventive maintenance, there’s another important type called corrective maintenance. Unlike preventive maintenance, which aims to prevent issues before they occur, corrective maintenance is about fixing problems that have already happened. When a piece of equipment breaks down unexpectedly, Agnico Eagle’s maintenance team springs into action to get it back up and running as quickly as possible.

Advantages of Preventive Maintenance

The benefits of preventive maintenance are clear, especially for companies like Agnico Eagle operating in demanding industries like mining. By adopting innovative approaches to maintenance, they can extend the life of their assets, reduce maintenance costs, and improve overall productivity.

How Does Preventive Maintenance Compare to Reactive Maintenance?

Reactive maintenance is costly and stressful. Agnico Eagle knows that waiting for equipment to break down before fixing it is not an option. By embracing preventive maintenance practices, they can avoid unplanned downtime and keep their operations running smoothly.

What is The Future of Preventive Maintenance with Smart Sensors like IoT and AI?

With the rise of artificial intelligence and the Internet of Things, the future of preventive maintenance looks promising. Agnico Eagle is already leveraging emerging technologies to optimize their maintenance practices and stay ahead of the curve. By incorporating AI and IoT into their operations, they can continue to improve efficiency and reliability.

Predictive maintenance is a proactive approach that uses data analysis to predict when maintenance should be performed on machinery or equipment. Here are some key statistics and quantitative data about predictive maintenance:

  1. Predictive maintenance could reduce maintenance costs of factory equipment by 10-40%.
  2. It may lead to 75% fewer breakdowns.
  3. The Global Predictive Maintenance Market size was valued at $3.3 billion in 2020.
  4. The global predictive maintenance market grew to $5.5 billion in 2022—a growth of 11% from 2021—with an estimated CAGR of 17% until 2028.
  5. The global predictive maintenance market is expected to grow to $23.5 billion by 2024.
  6. Predictive maintenance increases productivity by 25%, reduces breakdowns by 70% and lowers maintenance costs by 25%.
  7. With a lot of effort, the company succeeded in using predictive maintenance to predict about one-quarter of its breakdowns with 85 percent accuracy, saving more than 10 percent on each predicted breakdown.

 

These statistics highlight the significant potential of predictive maintenance in improving efficiency and reducing costs in various industries. However, the actual benefits can vary depending on the specific context and implementation.

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