Today the industrial landscape is getting exponentially more complex and dynamic due to some variables:
- Pressure to increase profit in a flat and highly competitive economy
- Tighter regulation and increased compliance risk
- Aging assets and increased operational risk
- Lack of enterprise to asset level visibility
- Disconnected data and disconnected people
- Generational turnover in equipment and staff
In order to remain competitive, stay cash flow positive, generate profits, how to operate, monitor and maintain your assets are key aspects to carefully consider. However, most firms struggle to reach these goals due to 4 key areas:
- Modern equipment and systems generate volumes and volumes of data. It is quite complex and time consuming to obtain insight and actionable information from the sheer amount of raw data generated.
- Most failures are unexpected, not time based, and not directly linked to equipment life cycle. Time-based maintenance is not the most optimal strategy.
- Cost reduction is a priority but not easy to identify critical assets which are likely to have a great impact in the whole outcome. It is mandatory to devise a comprehensive and solid asset strategy.
- Being successful requires the combination of three core elements in any industrial player: Technology, process and people.
APM – ASSET PERFORMANCE MANAGEMENT
GE’s APM (Asset performance management) encompasses the capabilities of data capture, integration, visualization and analytics tied together for the explicit purpose of improving the reliability and availability of physical assets.
APM targets 3 big drivers that have plagued infrastructure owners and operators:
- Improve Availability and Reliability
- Reduce Cost
- Manage Risk