Schneider Electric Extends Enterprise APM Offering through New Partnership with MaxGrip

Schneider Electric announced a new partnership with MaxGrip that reportedly will enable a more comprehensive asset lifecycle management offering that includes assessment services and risk-based maintenance capabilities. This expanded offering will be available as part of Schneider Electric’s Enterprise Asset Performance Management (APM) solution.

Schneider Electric’s expanded APM assessment delivers a view of asset health as a first step of an asset reliability strategy that takes into account business context to benchmark current performance and identify areas for improvement. Expert consultants will address a number of key areas of evaluation such as HSE (health, safety and environment), cost control, resource allocation, use of OT/IT systems and asset utilization. These insights will be translated into a pragmatic action plan to optimize production and improve margins while ensuring regulatory compliance.

As a result of this partnership, according to the press release, Schneider Electric can offer enhanced APM capabilities that allow customers to better strategize and optimize maintenance execution according to asset criticality for optimal business results. Risk analysis, what if analysis and asset management strategic review can provide detailed insight into asset reliability and performance, facilitating long-term strategic planning. Users can optimize operations by eliminating reoccurring incidents with root cause analysis, inventory management and strategy simulations to identify hidden inefficiency and drive value across the enterprise. An extensive library of asset reliability data and templates allows up to 90% faster time to deployment.

Paula Hollywood, ARC Advisory Group, commented, “Conflicting priorities can hamper an organization’s asset management efforts. A successful asset performance management program requires a disciplined approach to technology implementation, effective work processes, and an empowered workforce. A fact-based risk assessment by an impartial third party can mitigate any conflicts to ensure appropriate technology selection, and to develop work processes based on industry best practices that empowers people to make decisions that deliver value in support of organizational goals and objectives.”