1. of expenditure on the plant its effect on

1.     Introductionto former and future trends in maintenance: Maintenance is the most critical aspect to a productionfirm besides its research and development of a firm, though maintenance takes alarge portion of expenditure on the plant its effect on production and itseffects on various parameters are well known. Industrial maintenance has beenunder drastic change in the last few decades due to rapid escalation intechnology and also the consumer demands, Hence the producer also realized thealarming importance of maintenance and skill development in the firm, thoughmaintenance seem to be simple term its effects as discussed earlier have largeimpact on the asset value management and improvement, and contains factors likeassets, management and technological amendments. In coming sections acomparison of contemporary trends of maintenance is done and the futuremaintenance trends of the Industry 4.

0and the strategies behind theserespective ideas are discussed elaborately.2.   Major maintenance strategies of the 21stcentury:Asset management is considered to be the keyof cost leadership and this is accomplished only by systematic and progressiveapproach towards the respective maintenance function in a production plan, theindustry 3.

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0 mainly aimed towards automation of single machine entity and moretowards sustainability* and in this section the most implemented and tried andtested strategic models from the past decade which are used until now arediscussed Runto failure:This Strategy is the most basic form ofmaintenance and the key strategy in it is to run the equipment and once theservice time of the machine is expired the machine may tend to break down therequired action is taken to rectify the problem or to replace the specific item,this method makes it easy for the producers as the manufacturing process neednot specially concentrate on the maintenance until the equipment breaks downbut on his core competencies,This method also has heritable disadvantages likeuncertainty in the breakdown time and no particular record keeping of the assetmanagement and the most important aspect the production plant is not theprobability of failure but the down time*, so there must always be a robustsolution for the unanticipated problem and effective skill set to solve theproblem.Plannedpreventive maintenance:This type of maintenance is as the namesuggested is a planned and controlled process of maintenance where themanufacturing unit mostly uses constantly scheduled maintenance of machines,this process has gained importance due to raising demand s from the buyer andthe increased need of productivity and the industries requirement of gainingover down times,This is more predominant due to the raisingdegree of automatic components and proper track maintenance of the industrialequipment, the main advantage of this method is that the firm cuts of costsincurred on the spare parts as a specific amount is pre ordered and kept at thefacility beforehand. But as every contemporary strategy the process hasdisadvantages like unnecessary replacement of parts and no guarantee that theproduct doesn’t fail, a lot of downtime is also observed due to the periodichalt of machines for maintenance. Moreover, small sized companies might notconcentrate on managerial process other than core competencies as thecomplexity increase due to employee size.

Opportunitymaintenance:This is also a similar strategy that ofplanned preventive maintenance, but the process has a strategic advantage overthe former as the process takes the strategic advantage of the time when aparticular machine has to be halted and during this time a planned maintenanceis done the advantage with this is that there need not be a scheduledmaintenance and can be done at flexible pace and frequency.Conditionbased maintenance:It’s a process in which an specializedmaintenance schedule is done to each individual component based on thecondition of the asset or the machine, this saves unnecessary ripping of themachine and also effective maintenance of inventory and other resources Themost critical aspects of the plant are safety, capital value and productionactivity*,Based on the level of interaction withmaintenance process and analytics is categorized as proactive, predictivemaintenanceIndustry 4.0 and the current strategies:The manufacturing and production industry inthe past two years have been facing a low growth rate with just 3.1 and 3.4percent in 2016 and 2017 respectively*,This shows the alarming need for the industry to implement cost effectivenessin every aspect. And as mentioned earlier asset value management is crucial inproduction presently and the industry is quickly adapting to the changing trendand rapid pace of industry 4.

0, When A survey conducted by PWC in over 2000companies across 26 countries  ondigitalization of their plants it was found that  the metal and automotive industries are alreadytaking up new strategies of the incumbent revolution with around 35% and 41%*ofdigitalization respectively and improvement of their production facilitiesalready and are expecting around 65-70% percent of digitalization before theyear  2020 and also 86% percent of theserespondents  claimed the belief that theprocess of digitalization and new maintenance strategies will definitely payoff.This certainly shows the market potential of predictive and other new maintenancestrategies. The new industry 4.

0 format is also embracing upcoming technologieslike virtual and augmented reality in itself so as to provide clients andworkers a comprehensive understanding of their respective areas. Moreover thecore drivers of the industry 4.0 include aspects like IoT and remote operatingcapabilities cloud computing and etc. * and the former mentioned survey alsostates that 91% of the industries especially metal and automotive firms areexpectant to digitalize their firm before the year 2020,and 98%of thesecompanies expect to increase their efficiency by using augmented reality andpredictive maintenance ,this clearly shows that there is a lot of potential inthis segment for providers of service to these companies and  adapting to industry 4.0 is just not a buzzword but is considered as  an ambitiousgoal to reach in the coming years by all the firms, And the top ten key  drivers in this  process are big data analytics, machineleasing, augmented reality, self-driven logistics, robot assisted production,production line simulation, smart supply network, augmented work andmaintenance as service* and a few of these are discussed in the following partof the essay.Augmentedreality in maintenance:Augmented reality is a process of superimposingor projecting a digital image over a surface using a pair of specially designedglasses and computer, this process is becoming so common now a day that it’salso compatible in the high end smart phones. As mentioned earlier that theaugmented reality is a key driver of the upcoming years and can be used toprovide comprehensive solutions to maintenance issues, there could be effectiveloss due to down town in finding the problem and solutions to refer theexisting problem and then to fix it, whereas in an augmented reality planformmachine data and troubleshooting steps are pre located and providecomprehensive work procedure also, it was found that technicians with the helpof augmented reality could solve the same problem 56% faster and 47% fasterusing  computer than the contemporarymethod like referring manuals and experiences*.

Its also evident that with helpof predictive maintenance and other digital transformations plants efficiencyand cycle time can be drastically improved.Predictivemaintenance:With rapid advancement in sensors and machinelearning interfaces and remote sensing the capabilities of the machine havedrastically changed and machines now have capabilities of predicting the upcomingproblem and reporting it to the concerned technician, this is considered soimportant  as it saves the down time andinventory as it’s a comprehensive form of CBM and the plant need notnecessarily store and maintain spares and mechanics, the current level employeeswith higher education is only 19% in the industry where as technicians and thisis expected increase by only 5 % in the coming few years* so the demand for skilledlabor is going to drastically increase due increased complexity of machinery  this potential problem can be solved by usingaugmented reality and use of predictive maintenance. And moreover, unskilled laboris also believed to increase with these aids. Moreover, amongst the 8 keydrivers of industry labor and asset management and labor are most important andthese can and theses can be managed better with predictive maintenance, remotemonitoring, flexibility in machines and etc.