Industrial Software Platform delivers maximum return
Schneider Electric has announced increasing momentum surrounding customer adoption of the company’s Asset Performance Management (APM) solutions, an integral component of the Industrial Software Platform. Through investments in the cloud, advanced machine learning and augmented reality (AR), coupled with new partnerships, the company empowers customers to maximise their return on capital investment and to improve profitability. “Defining and executing an asset performance strategy is a critical component to improving productivity while safeguarding business continuity,” said Kim Custeau, Asset Performance Management Business Lead at Schneider Electric. “We have been delivering proven, industry leading asset performance solutions for nearly 30 years, and continue to invest in a long-term strategy to drive innovation in this area. “Our focus is to provide real value to our customers by empowering them to maximise return on capital investment and improve profitability. We are proud to see our customer results speak for themselves with significant reported savings. “Industrial IoT (IIoT) and Industry 4.0 provide new opportunities to improve overall business performance, particularly for APM. For owner-operators, this includes operational improvements largely involving improved asset reliability,” said Ralph Rio, Vice President Enterprise Software at ARC Advisory Group. “Users have reported that moving from preventive maintenance to predictive or prescriptive approaches provided a 50 percent savings in maintenance labour and MRO materials. With predictive and prescriptive maintenance, near-zero unplanned downtime for critical equipment can be achieved.” Machine Learning and Prescriptive Analytics 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. Duke Energy prevented an estimated $35 million cost from early warning detection of a steam turbine problem. Ascend Performance Materials now responds faster to alerts with actionable […]