All businesses are dependent on the reliability and availability of critical assets for the smooth running of their operations. The impact of asset failure ranges in severity and can include a total loss of production, inefficient service delivery, loss of income, damage to brand equity, or a breach in legislative compliance.
What if you could use technology to give these assets a voice to provide vital information for fast and accurate decision making?
What is Asset Performance Management?
By definition, it encompasses the capabilities of IIoT, data capture, integration, visualisation and analytics tied together for the explicit purpose of improving the performance, cost and risk related to physical assets.
It includes the concepts of online/intime condition and asset health monitoring, predictive forecasting, the effective implementation of the optimum maintenance mix of activities and taking timeous corrective action.
Asset health is monitored online and in real-time, allowing the use of advanced asset management techniques such as:
- predictive work forecasting,
- use of the optimum maintenance activity mix, and
- allowing owners to take corrective action before failure occurs.
Asset specific solutions
By continuously monitoring your critical equipment, you have factual and real-time information about the health and readiness of these assets and are able to make quick decisions and act to ensure their availability when needed.