Industrial organizations require asset optimization solutions to improve overall plant performance and avoid unexpected failures.

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.

Get key insights from a 2019 ARC Advisory Group survey on asset performance management (APM) and learn what is most important to industry leaders implementing APM at their organizations.

AspenTech enables producers to improve cost competitiveness, reduce operational risks and increase return on capital across their most complex assets.

For reliability engineers, Failure Modes and Effects Analysis (FMEA) is a step-by-step process for identifying and tracking the various ways an asset or equipment can fail. But despite its merits, FMEA is labor intensive, typically used only for critical equipment and does not sufficiently use data to improve its capability.

AspenTech can help you win more engineering and construction work, improve engineering performance and capitalize on OPEX. Watch our video to learn more.

A recent study by industry analyst firm Verdantix found that 56% of respondents believe that asset performance management (APM) is essential to business success, but few have executed on APM strategies and documented the business value. While APM has traditionally been the domain of maintenance and reliability engineers, its place within process-intensive industries is evolving.

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.

Eliminate the guesswork with reliability modeling that quantifies risk.

The mining value chain is complex as companies struggle to safely collect and analyze data across a growing network of devices, personnel and equipment. The faster you can gain insights from this data, the better your operation will run.