Asset Performance Management (APM) incorporates Industrial IoT and new analytics solutions, like machine learning. It uses information from production management, control systems, and asset management applications to provide new opportunities to optimize asset availability and operational performance. This optimization goes beyond functional silos and occurs between silos where significant inefficiency, waste, and sometimes dysfunction reside.
Balancing the objectives of operations for on-time delivery, volume, and quality with those of maintenance for asset availability, longevity, and reliability requires sharing information and harmonizing these objectives with the goals of the enterprise. New information technologies provide functionality to intensify cross-functional collaboration, business process improvements, and higher levels of performance to achieve asset performance management excellence.
The ability to interact with equipment – like a variety of devices on a single site, or widely dispersed machines – presents new opportunities for industrial companies, utilities, and equipment suppliers. These networks provide a new “connected ecosystem” of equipment manufacturers, systems integrators, and end users. Some manufacturers and utilities have begun adopting these technologies.
Those attending this Asset Performance Management program will learn what has been successful, and gain insights into what is next. The objective is to make fact-based decisions using reliable information that aligns with the organization’s objectives. An APM strategy helps ensure the best possible returns on capital investments over the lifecycle of the asset. If you are involved in operations, maintenance, or industrial IT, you will want to attend these program sessions.
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