White paper:

An Innovative Approach of How to Maximize the Efficiency of your Plant Assets

Executive Summary

  • With the increasing market competiveness, the complexity of some of the plant assets, the cost of their maintenance and their direct impact on production, the need to maximize asset availability while managing their efficiency and performance is no longer an option. Effective operations management starts by an effective asset management. Asset management is a systematic process of deploying, operating, maintaining, upgrading, and disposing of assets cost-effectively. We see it as a coordinated approach to realize value from assets. A poor performing asset such as a compressor or turbine can cause a drop in production, quality issue, and sometime all the way to creating safety related problems. Practically, facility owners in the process industry sector are today facing several challenges in managing assets such as:
    • Access to the expert who is well familiar with an asset and can quickly analyze and diagnose the behavior of the asset so immediate corrective action can be taken,
    • Reduce the cycle time to diagnose any related performance issue: the longer it takes the higher unnecessary cost and loss of production end-users incur,
    • Identify the optimum time to shutdown the asset for maintenance purposes,
    • Get accurate diagnoses as, sometime, although the asset is poorly performing the problem is already caused by other pieces of equipment that are upstream or downstream,
    • Establish proper management in order to avoid reliability issues and therefore a shorter lifecycle of the assets.
  • In this paper, we will be suggesting an innovative approach through the use of technology of how to address the above issues.
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