Asset Health Management (AHM)
Asset Health Management refers to the process of analyzing the health of an asset as determined by operational requirements. The health of an asset in itself relates to the asset's utility, its need to be replaced, and its need for maintenance. It can be broken down into three key components: 1) Monitoring: Tracking the current operating status of the asset. 2) Diagnostic Analysis: Comparing real-time data to historical data in order to detect anomalies. 3) Prognostic Analysis: Identifying and prioritizing specific actions to maximize the remaining useful life of the asset based on analysis of real-time and historical data.
- Discrete Manufacturing
From 2013 to 2022, the market for overall asset efficiency improvements potentially accumulates to USD 2.5 trillion.
3M Gains Real-Time Insight with Cloud Solution
The company has a long track record of innovative technology solutions. For example, 3M helps its customers optimize parking operations by automating fee collection and other processes. To improve support for this rapidly expanding segment, 3M needed to automate its own data collection and reporting. The company had recently purchased the assets of parking, tolling, and automatic license plate reader businesses, and required better insight into these acquisitions. Chad Reed, Global Business Manager for 3M Parking Systems, says, “With thousands of installations across the world, we couldn’t keep track of our software and hardware deployments, which made it difficult to understand our market penetration.” 3M wanted a tracking application that sales staff could use to get real-time information about the type and location of 3M products in parking lots and garages. So that it could be used on-site with potential customers, the solution would have to provide access to data anytime, anywhere, and from an array of mobile devices. Jason Fox, Mobile Application Architect at 3M, upped the ante by volunteering to deliver the new app in one weekend. For Fox and his team, these requirements meant turning to the cloud instead of an on-premises datacenter. “My first thought was to go directly to the cloud because we needed to provide access not only to our salespeople, but to resellers who didn’t have access to our internal network,” says Fox. “The cloud just seemed like a logical choice.”
Petropriar Uses Operator Rounds to Improve Asset Performance and Avoid Unplanned
Petropriar, S.A., a subsidiary of Petróleos de Venezuela S.A., owns and operates oil and natural gas reserves in the country’s Orinoco Belt. Petropriar needed an easy way to manage the inspection of its rotating electrical and static equipment at one of its industrial complexes.
Major Aerospace Company Automates Asset Management
The O&M division of an aerospace and global security company was using spreadsheets to manually track more than 3,000 assets assigned to students and staff. Maintaining audit trails for this high volume of equipment became increasingly time-consuming and challenging. The chore involved knowing precisely what equipment was on hand, what had been issued, its location and the name of the custodial owner of each item. Every aspect of this task was carried owner of each item. Every aspect of this task was carried out by individuals with spreadsheets. Manually documenting the full lifecycle of each asset added to the burden. This included tracking maintenance requirements and records, incidents and damages, repairs, calibrations, depreciation, and end-of-life data.