Schneider Electric Announces New Asset Performance Management Partnerships

By Ralph Rio

Category:
Company and Product News

Schneider Electric has announced new partnerships around its Asset Performance Management (APM) solution.

New Asset Performance Management Partnerships

MaxGrip

MaxGrip and Schneider Electric recently announced a new partnership agreement to expand APM consulting and add Risk-based Maintenance capabilities. The APM assessment is a critical first step for industrial companies to evaluate their asset reliability and digital transformation strategy. This review takes into account business context to benchmark current performance, identify areas for improvement and deliver an APM roadmap.

Schneider Electric and Accenture recently completed development of a Digital Services Factory to rapidly build and scale new predictive maintenance, asset monitoring and energy optimization offerings. As a result of these partnerships, a large food and beverage company reportedly saved over $1 million in maintenance costs.

IPS Company Group

Schneider Electric now offers unprecedented management of millions of assets across grid infrastructures, by extending its expertise through a partnership with IPS Company Group, recognized for its specialized Asset Performance Management solution for electric power systems. This combination of asset performance management software portfolios addresses the growing demands of transmission and distribution utilities.

Adoption of Asset Performance Management

Schneider Electric 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 maximize their return on capital investment and to improve profitability.

The Industrial Software Platform from Schneider Electric software, which, according to the press release, delivers maximum return on capital investment and profitability across the asset and operations lifecycle, is helping to accelerate adoption of the company's Asset Performance Management solutions.

Project Wins Around Asset Performance Management

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. According to the press release, 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 intelligence, saving an estimated $2 million through avoided plant shutdowns alone. As part of the expansion of Schneider Electric's cloud platform, these predictive and prescriptive maintenance capabilities can now be implemented in locations where it previously was not economically feasible.

Augmented Reality (AR)

Innovative companies are changing how they run their business with Schneider Electric's AR as an integral part of their APM strategy. In the chemical industry, BASF is implementing AR to improve asset performance, reliability and utilization while increasing production efficiency. During maintenance work execution, technicians reportedly can now leverage an augmented digital representation of the asset to improve efficiency and safety. The digital asset model captures years of experience and expertise which empowers the new workforce.

Cloud and Hybrid Deployment

Schneider Electric offers commercial and technical flexibility to address every customer need, delivering solutions through a range of deployment models (cloud, hybrid, on-premise) and commercial purchase options (subscription, SaaS, perpetual). WaterForce partnered with Schneider Electric to develop an IIoT remote monitoring and control system in the cloud that helps farmers to operate irrigation pivots with greater agility, efficiency and sustainability.

Ralph Rio, ARC Advisory Group, commented, "Industrial IoT (IIoT) and Industrie 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. Users have reported that moving from preventive maintenance to predictive or prescriptive approaches provided a 50 percent savings in maintenance labor and MRO materials. With predictive and prescriptive maintenance, near-zero unplanned downtime for critical equipment can be achieved."

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