{"id":15067,"date":"2019-04-10T11:00:02","date_gmt":"2019-04-10T19:00:02","guid":{"rendered":"http:\/\/www.palada.net\/index.php\/2019\/04\/10\/news-8816\/"},"modified":"2019-04-10T11:00:02","modified_gmt":"2019-04-10T19:00:02","slug":"news-8816","status":"publish","type":"post","link":"http:\/\/www.palada.net\/index.php\/2019\/04\/10\/news-8816\/","title":{"rendered":"Asset Performance\u2026 and economic return"},"content":{"rendered":"<p><strong>Credit to Author: Sophie Borgne| Date: Tue, 09 Apr 2019 21:14:18 +0000<\/strong><\/p>\n<p><em><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56150\" src=\"https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/GettyImages-968924932-1024x626.jpg\" alt=\"\" width=\"1024\" height=\"626\" srcset=\"https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/GettyImages-968924932-1024x626.jpg 1024w, https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/GettyImages-968924932-300x183.jpg 300w, https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/GettyImages-968924932-768x469.jpg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>How to make your largest industrial investment work harder for you<\/strong><\/em><\/p>\n<p><strong>Why does Asset Performance matter?<\/strong><\/p>\n<p>If you\u2019re wondering where to start with your digitalization journey, Asset Performance is a key area to address. Why? Because there is so much capital invested in production assets &#8211; typically, 70% of new plant capital.<\/p>\n<p>Naturally, you want to see maximum return on that investment \u2013 or maximum<strong> Return On Capital Employed (ROCE)<\/strong>. Your shareholders do too. By the same token, if something happens to these assets it can be a big blow for your financial performance \u2013 for example, <a href=\"https:\/\/blog.schneider-electric.com\/building-management\/2019\/02\/26\/6-steps-to-get-predictive-maintenance-ready\/\">unplanned down time<\/a> costs companies up to 5% in production loss each year (ARC Survey of 300 Customers in Discrete, Hybrid and Process Industries).<\/p>\n<p>Clearly a lot depends on the performance of these assets. Let\u2019s take a closer look at how you can use digital technology to improve ROCE.<\/p>\n<p><strong>Improving Asset Performance <\/strong><\/p>\n<p>So how do you make all that money invested in assets work harder for you, every day?<\/p>\n<p>What\u2019s exciting about the business enabler of Asset Performance is not only that you can reduce the risk involved, but also turn it around to achieve even higher returns. Even better news is that these days there are <a href=\"https:\/\/www.schneider-electric.com\/en\/work\/solutions\/industrial-process-automation\/\">complete solutions<\/a> on the market designed specifically to help you do this.<\/p>\n<p>Our customers across<strong> mining, water and waste water, and food and beverage, have <\/strong><strong>improved asset performance a<\/strong>nd reached new levels of efficiency and profitability thanks to the Industrial Internet of Things (IIoT).<\/p>\n<p>The right <a href=\"https:\/\/blog.schneider-electric.com\/machine-and-process-management\/2017\/04\/20\/iiot-success-formula-leverage-software-convert-new-workplace-capabilities-business-value\/\">industrial architecture<\/a> allows you to link all your assets together at the plant floor and also link them to the cloud if needed. Analytics can look for patterns in data and generate insights. \u00a0With the right insights generated from your system, you can:<\/p>\n<ul>\n<li>Prevent up to 80% of <strong>unplanned down time<\/strong> (Woll, et. al., 2002)<\/li>\n<li><strong>Reduce maintenance costs<\/strong> by up to 50% (ARC)<\/li>\n<li>Save up to <strong>30% of energy costs<\/strong> on average (eg. By using our libraries and analytics tools)<\/li>\n<\/ul>\n<p><strong>The path to maximizing return on your assets<\/strong><\/p>\n<p>We recommend breaking your asset performance management plan down into three stages.<\/p>\n<ol>\n<li><strong>Asset reliability \u2013<\/strong>The first step is to use technology to ensure that your assets are always available when you need them. After all, when an asset is down, it\u2019s down. And unplanned downtime costs plants on average 5% of production annually.<\/li>\n<li><strong>Maintenance excellence <\/strong>\u2013 Once you\u2019re confident your assets are working reliably, it\u2019s time to start thinking about your maintenance strategy. In simple terms knowing (even predicting) when you need to fix something and you when you don\u2019t, can save a lot on your maintenance budget \u2013 up to 50%.<\/li>\n<li><strong>Asset Optimization \u2013 <\/strong>This is the holy grail of asset performance management, the sweet spot where asset productivity and profitability are optimized while the asset is running. One of the key benefits of Asset Optimization is cutting energy consumption.<\/li>\n<\/ol>\n<p>That\u2019s a figure which is hard to ignore and one you don\u2019t want to walk away from. To achieve the numbers you\u2019re hoping for, we advise customers choose a fully integrated and comprehensive <a href=\"https:\/\/blog.schneider-electric.com\/machine-and-process-management\/2019\/02\/27\/how-to-drive-real-results-with-an-apm-strategy\/\">Enterprise Asset Performance Management (APM) solution<\/a>. This will allow you to collect and analyse data, along with identifying actions and optimization steps to support proactive maintenance strategies.<\/p>\n<p>You\u2019ll save money, make more profits and your maintenance staff and shareholders will be happier&#8230;well maybe!<\/p>\n<div id=\"attachment_56176\" style=\"width: 264px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.schneider-electric.com\/en\/download\/document\/Data-driven-Asset-Performance\/\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-56176\" class=\"wp-image-56176 size-medium\" src=\"https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/4-10-2019-1-42-58-PM-254x300.jpg\" alt=\"\" width=\"254\" height=\"300\" srcset=\"https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/4-10-2019-1-42-58-PM-254x300.jpg 254w, https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/4-10-2019-1-42-58-PM-768x906.jpg 768w, https:\/\/blog.schneider-electric.com\/wp-content\/uploads\/2019\/04\/4-10-2019-1-42-58-PM.jpg 782w\" sizes=\"auto, (max-width: 254px) 100vw, 254px\" \/><\/a><\/p>\n<p id=\"caption-attachment-56176\" class=\"wp-caption-text\">Learn more about &#8220;Data-driven Asset Performance Management&#8221; in this new Frost &amp; Sullivan Whitepaper.<\/p>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/blog.schneider-electric.com\/machine-and-process-management\/2019\/04\/09\/asset-performance-and-economic-return\/\">Asset Performance\u2026 and economic return<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/blog.schneider-electric.com\">Schneider Electric Blog<\/a>.<\/p>\n<p><a href=\"https:\/\/blog.schneider-electric.com\/machine-and-process-management\/2019\/04\/09\/asset-performance-and-economic-return\/\" target=\"bwo\" >http:\/\/blog.schneider-electric.com\/feed\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>Credit to Author: Sophie Borgne| Date: Tue, 09 Apr 2019 21:14:18 +0000<\/strong><\/p>\n<p>How to make your largest industrial investment work harder for you Why does Asset Performance matter? If you\u2019re wondering where to start with your digitalization journey, Asset Performance is a&#8230;  <a href=\"https:\/\/blog.schneider-electric.com\/machine-and-process-management\/2019\/04\/09\/asset-performance-and-economic-return\/\" title=\"ReadAsset Performance\u2026 and economic return\">Read more &#187;<\/a><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/blog.schneider-electric.com\/machine-and-process-management\/2019\/04\/09\/asset-performance-and-economic-return\/\">Asset Performance\u2026 and economic return<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/blog.schneider-electric.com\">Schneider Electric Blog<\/a>.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[12389,12388],"tags":[21521,15034,12730,21522,14641,14966,21523,14330,12432,17131,21524,12539,12508,21525,21526,12438,12548,17568,16641,21527,21528,20108,4229,21529],"class_list":["post-15067","post","type-post","status-publish","format-standard","hentry","category-scadaics","category-schneider","tag-asset-optimization","tag-asset-performance","tag-asset-performance-management","tag-asset-performance-management-solution","tag-asset-reliability","tag-augmented-reality","tag-capital-assets","tag-condition-based-maintenance","tag-ecostruxure","tag-ecostruxure-plant","tag-equipment-efficiency-management-oee","tag-food-and-beverage","tag-machine-and-process-management","tag-maintenance-excellence","tag-maximize-return-on-capital-employed","tag-miningmetalsminerals","tag-predictive-maintenance","tag-preventive-maintenance","tag-process-automation","tag-profitability-operational-efficiency","tag-pump-station-performance-management","tag-roce","tag-water","tag-water-and-waste-water-treatment-plants"],"_links":{"self":[{"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/posts\/15067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/comments?post=15067"}],"version-history":[{"count":0,"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/posts\/15067\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/media?parent=15067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/categories?post=15067"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.palada.net\/index.php\/wp-json\/wp\/v2\/tags?post=15067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}