Predictive Maintenance as a Driver for Corporate Sustainability: Evidence from a Public-Private Co-Financed R&D Project

Abstract

Can public–private research favor sustainable economic growth? Can innovation in terms of predictive maintenance (a recently consolidated evolution compared to the more traditional final and preventive maintenance) favor sustainable business balance? Drawing on the Quadruple Helix model and adopting the users’ (fourth helix) perspective, this paper seeks to provide initial answers to these two questions. Following an exploratory approach, it applies case study methodology to present the research outcomes of the D.I.A.S.E.I. Project, a co-financed research and development (R&D) project. Using a mixed-methods approach, narrative and quantitative, the study highlights that investing in predictive maintenance allows companies to reach better profitability ratios and sustainable value indexes. This is possible because of the improved quality of the provided services, higher revenues and the reduction of extraordinary maintenance costs. Furthermore, if companies support investment in predictive maintenance through correct financial decisions, they may create value over time and favor sustainable business balance. The work is the first empirical investigation, which should encourage further explorations. There are numerous implications, including reference to the co-creation of value, the effects on decision support systems and sustainable competitive advantage.