Utilizing Residual Life Information for Improved Maintenance Services

Companies and their customers are increasingly looking for new solutions to streamline and improve their operations. Maintenance, which can account for in between 15 - 70% of production costs is a key area of improvement in many industries. 'When the equipment will fail' and 'due to what type of failures' are critical information toward achieving effective and efficient maintenance operations. In this contribution we develop a product-service solution offering to support customers improving their maintenance activities. We identify the technical and organizational enablers and describe a use case example from the power industry.