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Aspen Technology, Inc. announced the introduction of a new product suite, aspenONE Asset Performance Management (APM). The new suite expands the aspenONE product portfolio from engineering, manufacturing, and supply chain into maintenance to address key business challenges that include process disruptions, low asset availability, and unplanned downtime. The aspenONE APM suite reportedly will enable companies to optimize their assets throughout the entire plant lifecycle.
Designed specifically for the process industries, aspenONE Asset Performance Management software provides highly accurate insights into complex process dynamics, diagnosing the root cause of an event to assess the impact on plant equipment and breakdown avoidance, and offers prescriptive, actionable guidance to help mitigate the impact on production.
The aspenONE Asset Performance Management suite will include the Aspen Fidelis Reliability product and the Aspen Asset Analytics products in its initial release. Aspen Fidelis Reliability enables customers to use the deep design and process knowledge contained within the aspenONE product portfolio to analyze process reliability, quantify improvement opportunities and optimize the availability of assets. The Aspen Asset Analytics product combines AspenTech's modeling and simulation and data analytics capabilities to predict specific process problem events and prescribe actions to prevent their occurrence. This product will initially be targeted at a specific set of customers identified by the company until general availability is announced in the future.
The APM suite is anticipated to be further populated with functionality and capabilities organically developed, as well as from recent acquisitions, to encompass a set of products and solutions that will capture the significant opportunity available in the maintenance area of process plants.
Keywords: Asset Availability, Operational Constraints, Process Models, Reliability, Asset Analytics, Process Plants, ARC Advisory Group.