GE has introduced a new Predix-powered Asset Performance Management (APM) solution that could help industrial companies reduce unplanned downtime.
The new solution developed jointly by GE and Meridium, offers asset-intensive organizations visibility anytime, anywhere, into their assets’ status and health across the entire enterprise.
Reducing operating risk and improving reliability at the lowest sustainable cost by predicting and preventing asset failures has always been an important criterion for industries worldwide. This also includes compliance with ever-expanding regulatory requirements, health and safety of workers, and tools to make them more productive.
The new GE Digital APM suite helps solves these challenges by covering the full spectrum of APM services from risk assessment and asset strategy development through condition-based maintenance (CBM), predictive maintenance, reliability centered maintenance, root cause analysis, and inspection and compliance management.
While outcomes vary by customer type, GE’s APM offering helps equipment operators optimize asset performance to increase reliability and availability, minimize costs and reduce operational risks, and decrease spend on unnecessary and unplanned maintenance.
Additionally, Original Equipment Manufacturers (OEMs) have the capability to reduce asset lifetime cost and increase profit streams from asset service by expanding monitoring and maintenance capabilities to their end customer. This capability helps OEMs increase service revenue and reduce asset lifecycle costs, including R&D, warranty and services.
The GE Digital APM suite consists of the following solutions:
- Machine & Equipment Health – Near real-time equipment health and state. Analytics/Rules engine, configurable dashboards and exception-based notifications of potential issues.
- Reliability Management – Predictive monitoring of equipment issues via digital twins. Collaboration and knowledge management tools aimed to improve worker efficiency.
- Compliance and Integrity Management – Ensure asset integrity and compliance by monitoring changing risk conditions.
- Asset Strategy Optimization – Tools and techniques to help optimize asset strategies across availability, reliability, risk and costs.
Image credits and content: GE Newsroom