To ensure profitable, reliable and safe operations, production managers and their teams need to move to a predictive and proactive mode of operations with particular emphasis on the critical assets and equipment that can impact performance. For most organizations, the move to this enhanced approach is limited or complicated by a lack of useful information and the absence of the context required to make meaningful decisions. As a result, there is often an inordinate amount of time spent digging through data trying to understand causes of the problem and develop action plans to correct/ compensate for equipment failures. This is costly in terms of lost production and could lead to potentially hazardous operating conditions.
The IPS Critical Asset Management solution is designed to enable better information extraction, predictive analytics and proactive collaboration. This allows operators to discover potential problems with equipment health and performance days to weeks in advance of any production impact while providing reliable information about how long maintenance can be deferred. In addition, the solution provides current data and trends of the tradeoffs between the cost of maintenance and the cost of operating the equipment in a state of degraded performance. The goal is to implement cost-effective corrective maintenance that is coordinated with operations management personnel to avoid or minimize production losses.
The solution predicts the time to reach a point of equipment failure and provides recommended corrective actions based on the results of past experience and/or simulations. It also presents leading economic indicators and potential consequences of the decision alternatives. The integration of cost information from maintenance management, production planning, operations scheduling and logistics personnel helps determine the true economic impact of equipment problems versus the cost of changing maintenance schedules to improve plant reliability and equipment availability. Statistics are provided to help managers, process engineers, maintenance teams and supply chain personnel to justify capital projects or changes in procedures.
The IPS Critical Asset Management solution employs proven technology, including the unprecedented integration capabilities of InFusion along with industry leading modeling/simulation, powerful predictive capabilities, and our unique real time economic performance measurements.
The IPS approach to critical asset management ensures that decisions and actions are high quality, early, accurate and repeatable while reducing equipment failures and false trips, improving plant availability, reliability and safety.