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OTIS Strategies and Technology

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The company pioneered predictive maintenance efforts years ago, before you ever heard the phrase "Internet of Things." Back in the 1980s, Otis created the Remote Elevator Monitoring (REM) initiative, collecting data like fault codes and the number of times a door opens, from over 300,000 of its elevators. Otis collected that REM data once a day from those remote sites at baud-modem speeds

Now the company can use those 30 years' worth of REM data and insights as part of its predictive analytics program.

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For more than 50 years, Otis Elevator and KONE Elevator Companies have had one objective: to 'fulfil dreams trough the experience of Elevators.' Therefore the paper analyzes the Strength, Weaknesses, Opportunities and Threats and Changes toward Effective Performances for Otis Elevator Company (H.K.) Limited and KONE Elevator (H.K.) Ltd. Depending on the type, make, usage and level of preventive maintenance, a malfunction occurs, on average, between 0.5 and 10 times per year

The cost of elevator maintenance is somewhere between 0.4-1.5% of the total property maintenance costs. So even significant savings in elevator maintenance can only have a marginal impact on total property management costs. In most countries in the world, an elevator field technician with over five years experience can pass the tests and get a license. Globally, the competitive situation is quite similarly polarized: corporate with higher overheads, the potential to offer better services and higher prices against the small local operators with almost zero overheads, low prices and a capability for only limited services.

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Obviously, Otis is the world's largest manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways

Founded more than 160 years ago by the inventor of the safety elevator, Otis offers products and services through its companies in more than 200 countries and territories, and maintains more than 1.9 million elevators and escalators worldwide.

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