A method includes generating a model for predicting a remaining service life of a gripping member of a torque wrench based in part on a number of connections of one or more types of tubulars that are made or broken using the torque wrench before slippage of the torque wrench occurs, counting a first number of connections of a first type of tubular that are made using the torque wrench, predicting, using the model, the remaining service life of the gripping member of the torque wrench based in part on the first number of connections of the first type of tubular that were made using the torque wrench, and performing maintenance on the torque wrench based on the remaining service life of the gripping member of the torque wrench that is predicted, before slippage of the torque wrench occurs.