The vision of Smart Manufacturing Systems (SMS) includes collaborative robots that can adapt to a range of scenarios. This vision requires a classification of multiple system behaviors, or sequences of movement, that can achieve the same high-level tasks. Likewise, this vision presents unique challenges regarding the management of environmental variables in concert with discrete, logic-based programming. Overcoming these challenges requires targeted performance and health monitoring of both the logical controller and the physical components of the robotic system. Prognostics and health management (PHM) defines a field of techniques and methods that enable condition-monitoring, diagnostics, and prognostics of physical elements, functional processes, overall systems, etc. PHM is warranted in this effort given that the controller is vulnerable to program changes, which propagate in unexpected ways, logical runtime exceptions, sensor failure, and even bit rot. The physical component's health is affected by the wear and tear experienced by machines constantly in motion. The controller's source of faults is inherently discrete, while the latter occurs in a manner that builds up continuously over time. Such a disconnect poses unique challenges for PHM. This paper presents a robotic monitoring system that captures and resolves this disconnect. This effort leverages supervisory robotic control and model checking with linear temporal logic (LTL), presenting them as a novel monitoring system for PHM. This methodology has been demonstrated in a MATLAB-based simulator for an industry inspired use-case in the context of PHM. Future work will use the methodology to develop adaptive, intelligent control strategies to evenly distribute wear on the joints of the robotic arms, maximizing the life of the system.