New partnerships, investments in the cloud, advanced machine learning and augmented reality have evolved Schneider Electric’s Asset Performance Management (APM) solutions, leading to improved productivity and profitability for its customers in the field of energy management, according to the company.
Using Schneider Electric’s APM, owner-operators are improving asset reliability for improved ROI. Duke Energy, for example, prevented an estimated $35 million loss by using predictive analysis that identified a steam turbine problem, the company says.
Industrial IoT (IIoT) and Industrie 4.0 are providing new opportunities to improve overall business performance. “Users have reported that moving from preventive maintenance to predictive or prescriptive approaches provided a 50 percent savings in maintenance labor and MRO materials,” says Ralph Rio, Vice President Enterprise Software at ARC Advisory Group. “With predictive and prescriptive maintenance, near-zero unplanned downtime for critical equipment can be achieved.”
Machine learning and advanced pattern recognition play a central role within Schneider Electric’s asset performance solutions, enabling customers to more accurately predict – and proactively resolve – issues before they impact their business. This increases reliability, reduces costs and improves safety. As part of the expansion of the company’s cloud platform, these predictive and prescriptive maintenance capabilities can now be implemented in locations where it previously was not economically feasible.
Schneider Electric says it offers commercial and technical flexibility and delivers solutions through a range of deployment models (cloud, hybrid, on-premise) and commercial purchase options (subscription, SaaS, perpetual).
More Examples
- In the chemical industry, BASF is implementing AR to improve asset performance, reliability and utilization while increasing production efficiency. During maintenance work execution, technicians can now see an augmented digital picture of the asset in question to improve efficiency and safety.
- WaterForce partnered with Schneider Electric to develop an IIoT remote monitoring and control system in the cloud that allows farmers to operate irrigation pivots with greater agility, efficiency and sustainability.