As the industrial sector grows and evolves to adapt to an increasingly competitive environment, the management of production plants and facilities becomes more and more complex, and with it, the management of their assets, both physical and intangible.
As a result, companies require more interconnected, flexible and adaptable systems to help them gain the focus and clarity needed to achieve the plant’s vision of maximum performance.
In this way, asset performance management becomes a key pillar in reducing production costs and increasing efficiency.
What is asset performance management or APM?
Asset Performance Management (APM) is defined as the set of technological solutions created to improve the maintenance of a company and to optimise each and every one of its assets to the maximum.
The raison d’être of an APM is based on improving the availability of assets and achieving the highest performance of the activity, minimising the risks and costs of each operation.
What does this asset management consist of?
- Asset management at the highest level. The power of APM extends beyond the plant or facility, applying to each and every production or maintenance-related area of the industry.
- Digital tools. The application of the most cutting-edge technologies together with an infinite variety of intelligent tools will improve production processes and create new methods of asset management.
- Data and analytics. APM enables greater collaboration across all enterprise assets through the use of digital twins and other virtual representation and information management tools.
- More accurate application. Traditional practices and applications become more effective when enhanced with data and platforms as advanced as an APM.
By sharing information and integrating applications between operations and maintenance, we achieve synergy between operations management and asset management excellence. This is the only way to ensure optimal production capacity and increased visibility, collaboration and communication between all areas of the company.
What does APM consist of?
Asset performance management is made up of powerful analytical tools that are fed with information derived from business processes. This platform is responsible for contextualising the data to produce actionable and, above all, valuable information.
The APM will collect and manage the data, recognise patterns and, thanks to its advanced Big Data and Machine Learning technologies, produce efficient predictive analytics.
These are some of the most important components in an APM:
- Complete insight into the state of physical assets and digital twins.
- Cutting-edge analytics, thanks to Artificial Intelligence (AI).
- Compliance management through its tools that monitor asset health.
- Use of operations platforms integrated with an IIoT solution.
- Strategy for maximum return on asset investment.
How can asset performance management help you?
Implementing an APM can help your Business:
- Avoiding unplanned downtime by optimising production times to the maximum.
- Detecting emerging problems and prevent future ones, thanks to its high analysis capacity.
- Implementing a proactive response to any incident in order to leave reactive responses to an incident or breakdown in the past.
- Extending the useful life of assets by preventing breakdowns and other types of damage.
- In general, optimising each and every phase of industrial production to the maximum.
- Finding opportunities to improve your company’s production processes, enabling a constant improvement process.
- Make way for the simplification and optimisation of reports, leaving behind the old Excel tables.
- Reducing maintenance and inspection costs. This will be possible because the APM will personally maintain and constantly inspect the company’s machinery.
- In short, increase the overall profitability of the company with an intelligent, effective platform backed by the infinite capabilities of AI.
Do I need an APM in my industrial company?
After learning all the necessary information about APM, it’s time to ask yourself if APM is the right system for your industrial business.
Firstly, you need software in this category if you are looking to optimise each and every one of the company’s industrial production processes to the maximum: from the birth of the product to, from a more global vision, the entire production chain.
On the other hand, if you want to be able to control, monitor and manage all the company’s facilities and assets quickly and efficiently, having a tool as powerful as an APM will make the difference in performance.
In short, it is worth considering the implementation of an APM if you are looking to achieve the highest level of maturity in industrial maintenance operations, achieving optimal predictive or even risk-based maintenance.
Optimise and improve the performance of your industrial assets with Nexus Integra
Nexus Integra can become the ideal technological solution for your industrial company. This platform will help your company to implement an optimal and cutting-edge production strategy, hand in hand with IoT and Machine Learning.
You will be able to connect and operate all your assets, being compatible with systems previously implemented in the company. You will be able to visualise, analyse and control processes, obtaining a 360º vision of the company.
Achieve operational excellence with Nexus Integra, your integrated operations platform.
Contact our team for a personalised study.