is it possible to create corrective maintenance work order based on meter readings

Summary:

Hi Team,
We would like to explore more on the functionality of generating a Maintenance work order based out of Meter readings,
We do understand that ,With meter readings as a reference we can create a maintenance program which will eventually forecast and release Preventive work orders in the system

As per our current requirement, We would like to explore whether oracle has any out of the box feature to support the below asks
1 Whenever the Asset meter attains a threshold reading , It should trigger a notification / alert so that business users can create manual corrective work orders
2 Whenever the Asset meter attains a threshold reading , It should automatically release a corrective maintenance work order