Advanced Maintenance Solutions
Achieve predictive and preventative maintenance through advanced maintenance solutions that fuse IoT, AI and machine learning technologies to capture, integrate, visualise and analyse asset performance data for improved reliability.
Enable advanced maintenance solutions that find the balance between reducing risk and optimising assets.
Asset Performance Management (APM) systems fuse IoT, AI and machine learning technologies to capture, integrate, visualise and analyse performance data to improve the reliability and availability of physical assets. APM includes the concepts of condition monitoring, predictive forecasting and reliability-centred maintenance (RCM).
Building on EAM as the system of record, APM tools and technologies are designed to help engineers, planners and maintenance leaders make better decisions on which maintenance and inspection activities to perform and when. Organisations invest in APM to reduce unplanned (and unnecessary planned) repair work, improve asset availability and safety, minimise maintenance costs and reduce the risk of failure of critical assets by:
- monitoring performance metrics in real-time through connected sensors
- automating condition-based preventive measures
- identifying causes of recurring issues
- analysing data to anticipate and minimise, if not completely eliminate, asset failures that lead to unscheduled downtime, overtime, unplanned acquisition of parts and deferral of scheduled maintenance activities.
Importance of Advanced Maintenance Approaches
Many organisations have embraced enterprise asset management (EAM) to capture volumes of data related to assets and streamline maintenance operations. Yet even organisations with the most sophisticated approaches can struggle to keep maintenance costs low while still optimising asset performance and minimising risk. Research compiled by IBM has found that:
- 30% of all maintenance efforts are ineffective
- almost half of preventive maintenance costs are spent on assets with negligible effect on uptime failures
- 45% of preventive maintenance activities are carried out too frequently
- 82% of asset failures appear random.
Advanced maintenance approaches made possible through the implementation of APM systems address these challenges by listening to what the data on asset performance is saying and acting accordingly.
While still in its infancy, organisations adopting APM approaches are realising enormous benefits in reduced operational costs, increased uptime and availability and extended asset lifecycles.
Performance Management Technologies
IBM Maximo Application Suite (MAS) is one of the leading performance management technologies and offers intelligent asset management, monitoring, predictive maintenance, safety and reliability in a single platform.
MAS integrates key sources of data from your organisation’s EAM system of record with sensor data from IoT and OT systems.
It then applies a rich set of analytics and AI services to give you real-time insights into your asset performance.
By providing the right information at the right time, it can initiate work orders to help ensure the required maintenance takes place before a failure occurs. APM solutions within the Maximo Application Suite include these modules: Monitor, Health and Predict.
Why COSOL
COSOL's specialist AM Systems and Process teams can advise, implement, optimise and maintain APM tools and technologies as an extension of your preferred EAM system.
We bring business, asset, data and technology specialists together to:
- identify the asset classes that will deliver the greatest returns from advanced maintenance solutions
- identify and source relevant data
- construct asset health scores based on critical performance metrics.
Learn more about COSOL’s work with Brisbane Airport Corporation in assessing, planning and implementing a predictive maintenance trial for baggage handling conveyors.
Identifying the potential value of inventory optimisation
Fostering efficiency in EAMs through data improvement
Decarbonise your operations with sustainable inventory optimisation
REDUCE FREQUENCY OF ASSET FAILURES
Monitor asset conditions with registered IoT devices that send sensor data to predict failure and trigger automated actions to avoid breakdowns.
OPTIMISE PREVENTATIVE MAINTENANCE
Combine asset records and sensor data to take action based on insight into asset health instead of doing unnecessary preventive maintenance.
ENTERPRISE-LEVEL DATA VISABILITY
Integrate data from multiple sources to gain insights about operating states across the organisation in a single dashboard.
INCREASE ASSET AVAILABILITY
Keep track of conditions, costs, performance and remaining useful life to reduce asset failures and minimise downtime.
REDUCE OPERATIONAL RISK
A deeper view of asset status helps you focus on the right assets.
REDUCE CAPITAL REPLACEMENT DECISION TIME
Make replacement planning more accurate and efficient with powerful analytics that provide a clear view of your assets.
