In asset-intensive industries, a single failure of a critical, costly piece of equipment can result in millions of dollars in production losses. In a new report, ARC Advisory Group's Steve Banker describes how optimized production scheduling based on an integrated digital twin maintenance model enables these companies to convert unplanned downtime into less expensive, scheduled maintenance.

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:

Pharma and biotech companies face a pivotal next step in addressing the increased complexity of production while balancing mounting cost pressures with the need to ensure product quality, security of supply and regulatory compliance. Findings from AspenTech® and Longitude’s recent market survey revealed that digital culture and technology adoption provide a competitive edge – but adoption is slow.