Abstract


 Industry 4.0 is the fourth industrial revolution where machine operations are linked through data communications and together, they form a production ecosystem. In Industry 4.0 settings, these operations are monitored, recorded and analyzed. This can be performed at Edge, Fog or Cloud levels.
 
 
 In the industrial big data era, with ever maturing sensor technologies, data capture, communication and storage technologies, utilizing machine data for operational insights provides companies with competitive advantages. Benefits can include reduced operational and maintenance costs, a decrease in unscheduled downtime and greater assurance of on-time delivery of products. In this work, we will cover the milestones of implementing an industry 4.0 condition-based maintenance (CBM) strategy for machine tools and their surrounding systems. In addition, we will discuss the methodology for sensor selection, data collection, transmission and storage, return on investment for CBM and building CBM models for detection. Finally, will delve into challenges of implementing this methodology in industrial settings from both technology and logistics aspects.

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