A system for monitoring machine tool health is disclosed. The system includes a machine tool and a central data server configured to receive, process, and send data. A plurality of sensors are associated with the machine tool, and the sensors are configured to measure operating parameters of the machine tool that relate to potential failure of a machine tool component. The sensors also are configured to send data relative to the measured operating parameters to the central data server. A system for enterprise resource planning is configured to receive data from the central data server, analyze the received data to determine whether preventive maintenance is indicated for the machine tool, and schedule preventive maintenance for the machine tool.