Asset Performance Management (APM 4.0)

Enterprise Asset Performance Management (APM) comprises data capture, integration, visualization and analysis activities with the objective of improving the reliability and availability of physical assets, minimizing risks and operating costs, and to achieve the maximum economic performance of the activity. APM also includes concepts for condition monitoring, predictive maintenance, and reliability-centered maintenance (RCM).

We can define APM as a set of technological solutions designed to improve the reliability and availability of the physical assets essential to the operation of a company .

The concept of APM is traditionally related to industry and Industry 4.0, but it can be easily extended to service companies as well, especially in sectors where the availability and performance of assets can directly affect service delivery and results of the activity, as can the sectors of distribution (hypermarkets), restaurants or energy (such as service stations).

Principles of APM

Asset performance management involves information exchange and application integration between operations and maintenance to provide a complete view of production, asset performance, and product quality. APM improves the integration between operations management and asset management, ensuring production or service delivery capacity. APM solutions affect business processes, technology and organization of companies.

Asset performance management synchronizes production and maintenance with information exchange and application integration between company asset management, operations management systems, asset management, inspections and other solutions to provide a complete view of production and asset performance. This integration increases visibility, collaboration, and communication between different functions to improve productivity, reliability, security, quality, and asset performance.

APM means reaching the maximum level of maturity in the organization's maintenance operations , covering all areas, from traditional reactive and preventive maintenance, to reaching predictive maintenance and, finally, managing risk-based maintenance.

Maintenance levels

Optimization using APM covers different functional areas, such as operations, maintenance and quality management. This APM approach becomes a means of systematically improving key metrics such as uptime, mean time to repair (MTTR), asset life, cost, quality / performance, and safety. This improvement has a direct impact on the company's results , from the level of income to profits, without forgetting the customer satisfaction rates.

Asset Performance Management (APM) components

APM performance management is primarily driven by powerful analytical tools that feed on information from integrated business processes. Contextualize data to create actionable insights by searching through various sources to find patterns and opportunities for improvement. APM uses data management, pattern recognition, predictive analytics, artificial intelligence, and machine learning to make asset-centric organizations more productive, improving asset reliability while reducing costs. and operational risks.

However, as with other tools such as strategic asset management, in APM strategy is as or more important than technology . A unified strategy helps people, processes, and systems work together for sustained operational excellence. Creating streamlined, automated and structured processes is the foundation for truly effective asset management and performance management.

Based on this strategy, some fundamental components in APM are:

• Complete view of the status of assets, combining IT information (information systems) with OT (operational systems, such as sensors).

• Advanced analytics, including Big Data techniques and digital twins.

• Management of legal and compliance risks, using tools that monitor the main parameters that affect the risk associated with the state of assets.

• Use of strategic enterprise asset management (strategic EAM) systems , such as Retain, that help integrate all procedures and operations related to company assets to create an overall efficiency strategy in operations.

If you want to know more about asset performance management Services and how it can help your company and your industry, then you can speak with us at ENERGYSAVER. We deploy our technology to help you obtain the maximum performance and efficiency from your assets.