A recent study conducted by ARC Advisory Group analyzed how leading manufacturing companies are leveraging artificial intelligence (AI) and machine learning tools to improve asset performance. While condition-based maintenance is most prevalent, the study found that leaders have successfully built AI capabilities to enhance asset performance practices through in-house platforms, commercial solutions and a combination of both.

For over 40 years, AspenTech has applied advanced technology to address the critical challenges faced by industry and society. Now, our focus is also on leading in sustainability solutions and partnering with asset-intensive industries to make the sustainability future a reality.

The priorities of industrial manufacturers are changing. While minimizing asset downtime and maximizing production and quality remain important, sustainability and operational initiatives are becoming intricate parts of a company’s strategic objectives. Increasingly, they are relying on asset performance management (APM) software to meet the challenges of volatile market demands and supply chain disruptions and optimize overall asset performance.

A revamp is underway of a widely revered strategy to avoid or mitigate industrial equipment failures. The failure modes and effects analysis (FMEA) is a core Six Sigma tool for improving processes and products. Recent technology advancements are breathing new life into this longtime, largely unchanged best practice.

Over the past three years, the Alliance to End Plastic Waste has rallied over 90 member companies, allies and supporters who are committed to ending plastic waste in the environment and creating circularity. AspenTech is proud to be one of those members and to have the opportunity to work with some of the world’s leading companies to create and scale innovative solutions for this cause.

ARC descubrió que el 17% de los encuestados no logran escalar APM en diferentes activos de la misma planta, independientemente de los recursos. Un asombroso 53% de los encuestados también indicó que sus implementaciones de APM eran capaz de ser escaladas, pero no sin un enorme esfuerzo y demanda de recursos. Aprenda más de los resultados de la la encuesta de escalabilidad de ARC en este reporte.

ARC found that 17 percent of survey respondents cannot scale APM across different assets at the same plant, regardless of resources. And 53 percent of respondents also indicated that their APM deployment was scalable, but not without tremendous effort and resources. Learn more about the ARC Scalability Survey results in this report.

Today’s asset intensive organizations face multiple competitive, market and economic related challenges, not the least of them relates to managing the business during a pandemic. This drives the need for new and expanded asset performance capabilities that go beyond traditional maintenance management approaches to include improved access to process data.

This report, written by Dr. Carole Nakhle, CEO of Crystol Energy, discusses the findings of a survey assessing the impact of the COVID-19 crisis on the global energy industry. The survey, a collaboration between Crystol Energy and AspenTech, was completed in November 2020. Download this comprehensive and informative report to learn more about the survey's key findings.

ARC Advisory Group conducted research to gain a better understanding of the current state of sustainability and “green initiatives” in the chemical and energy industries. Research showed that: