Asset-intensive companies are constantly challenged to reduce operating risk and improve reliability, while effectively managing costs. In addition, organizations are faced with ever-expanding regulatory requirements, protecting the health and safety of their workers, and providing the necessary tools to make them more productive.
Some industrial organizations choose to tackle these business challenges with a variety of software solutions or manual work processes. In the age of the Industrial Internet of Things (IIoT) it’s only going to get harder to facilitate this work (especially if it’s happening in organizational siloes) in a productive and sustainable way.
Asset Performance Management (APM) from GE Digital, is now the most comprehensive APM solution available to industry. By combining GE Digital’s APM portfolio with Meridium Enterprise APM (acquired by GE in September 2016), organizations can realize the benefits of real-time visibility, into their equipment's status and health across the entire enterprise, armed with powerful analytics to increase asset reliability and avoid unplanned downtime.
Besides visibility into equipment health, risk-reduction, and optimization of maintenance, APM enables asset-intensive organizations to reduce long-term total cost of ownership, safety to workers and the environment, and disruptions to operations. We’ve seen its benefits on our own equipment at our own facilities. GE, as an OEM, monitors more than $1 trillion in assets. We know what it takes to monitor industrial equipment and will continue to invest in APM solutions for us and for industry.
Benefits of APM
Based on industry averages and results that our actual customers have experienced, APM can deliver:
- 2-6% increased availability with reduced unplanned downtime to ensure that critical assets and systems are monitored and protected from emerging threats
- 10-40% reduction in reactive maintenance by detecting problems early, turning unplanned downtime into planned downtime
- 3-40% reduction in EH&S incidents and protects the health and safety of employees and the environmen
- 5-10% inventory cost reduction by determining spare parts requirements based on failure rates, logistical constraints, and downtime
- 5-25% gain in employee productivity with prioritized maintenance based on criticality and cost
- 5-10% reduction in IT total cost of ownership delivered via software as a service (Saas) model that provides flexibility and access to business insights
These kinds of results come from a combination of GE’s control-to-cloud coverage and remote monitoring and diagnostics capability through GE Digital’s Industrial Performance Reliability Center (IPRC) and cyber security offerings. This software analyzes and simulates real-world conditions to predict how equipment or a process will behave in order to more effectively manage cost and risk. Future integrations with the recently acquired ServiceMax will help industrial customers act on intelligence from the APM solutions and deploy services appropriately.
By making operations safer and more reliable, while helping to ensure optimal performance at a lower sustainable cost, GE Digital’s APM can help guide your industrial organizations digital transformation and start realizing real business value quickly.
Learn more about our comprehensive suite of APM solutions.