Five Ways To Improve Your Enterprise Asset Management

We stand on the edge of Industry 4.0. Soon, an Internet of Things platform that incorporates Big Data, analytics, and artificial intelligence will disrupt business as we know it. To survive, your organization needs to modernize its methods of managing assets over their lifecycles. In other words, you need to improve your enterprise asset management (EAM). Here are five ways to do just that and ensure your organization flourishes in Industry 4.0.

  1. Utilize real-time insights: By utilizing real-time insights, companies can optimize their enterprise asset management. Real-time insights allow organizations to implement agile maintenance strategies. Agile maintenance will ensure your organization does not perform more maintenance than needed, minimizing downtime and cost. Real-time insights also allow organizations to experiment with their operations, adjusting the performance of assets in real-time.
  1. Implement prediction and simulation: By using predictive software, your organization can see the outcome of every possible decision when wondering how to utilize assets. This allows you to be aware of unexpected outcomes, improving reliability and enabling stress-free operations. As well as awareness, an identifiable outcome increases efficiency by eliminating costly approval processes. More importantly, predictive software can reduce risks for every employee in your organization.
  1. Increase agility: Your organization’s EAM processes need to pick up speed to excel in the digital economy. By implementing software that shortens the time it takes for processes like onboarding, your organization can keep up with your industry. You should use new organizational ecosystems to optimize asset implementation or quickly acquire new business models. This allows you to act on opportunities and enter new markets in much less time than it takes with today’s systems.
  1. Simplify solution deployment: With new assets to take advantage of every day, you must be able to implement them before managing them. Now, companies can choose to deploy new solutions in-house, in the cloud, or through a combination of the two. If you utilize cloud solutions, you won’t need to waste time implementing expensive hardware. This will lower your need for costly maintenance and replacement, freeing up both budget and IT resources for value-adding activities.
  1. A consumer-grade user experience: For your employees to accept updates to your EAM, you must offer them within an engaging, easy-to-understand user experience. After all, the implementation of new software is only as quick as the time it takes for your average employee to understand it. Invest in solutions that can be adapted for use across multiple platforms in any part of your organization. By driving adoption through increasing engagement, your organization can increase productivity.

As you can see, improving your organization’s enterprise asset management is a matter of implementing these five foundational improvements. By selecting a solution that focuses on all five, you can future-proof your organization.

SAP’s enterprise asset management software offers all five and much more. Click here to learn more about how we can improve your enterprise asset management.

Internet of Things – Digitalist Magazine

What we THINK about: Enterprise Asset Management

It’s that time of year again. What time, you may be asking? The time of year to think about what new challenges you will take on and how you will execute them. To think about ways your business can innovate with new enterprise asset management (EAM) technologies. And, most importantly, to think of ways to meet and network with new peers and leaders in your industry. Luckily, all of this can be done at IBM Think. In a first-if-its-kind event, IBM is combining all prior events that you may be familiar with (i.e. InterConnect, WoW, Edge, etc) into one incredible event in Vegas from March 19-22. Will you join us?

Network with enterprise leaders

First of many reasons to attend is the people. With 40,000 expected attendees, there will be no shortage of conversations, connections, and education. This will include Ginni Rometty, and the new IoT General Manager, Kareem Yusuf. This is in addition to the many session speakers delivering great content around EAM and the future of IBM Maximo.

Dive deep into innovative Enterprise Asset Management

As track chair for Maximo Enterprise Asset Management, I’ve had the pleasure of helping to bring together some of the most thought-provoking customer stories, and highlight new IBM offerings throughout the track. We’ll be exploring innovative approaches to managing assets and ensuring reliability and uptime. Below, I’ll share just a few of the topics our clients will spotlight during the event.

Keynote: State of the Enterprise Asset Management Union

Our track keynote features Terrance O’Hanlon from ReliabilityWeb, who you may know from their MaximoWorld and IMC annual events. This executive keynote will bring a perspective of steps that can accelerate your journey towards digital transformation. We’ll explore how leaders are using IoT data, predictive maintenance and augmented reality to drive improved EAM outcomes.

Panel session: The next frontier is mobility

A panel session, ‘The next frontier for Enterprise Asset Management is Mobility,’ will focus on Field Service Management. We’ll hear from industry leader Westar Energy and ‘Toughbook’ innovator and partner, Samsung. This session will share best practices on maintaining and servicing assets in the field. By increasing productivity, reducing errors, and capturing data at the work source, mobile can help identify problems before they happen.

GIS and Weather, together

Did you know that IBM Watson uses location and weather data together to drive more effective infrastructure and correction? Especially when it comes to maintaining high-cost and high-risk assets such as wind turbines at sea and transmission towers in rugged terrain.

This session will discuss a new, innovative and integrated deep-learning solution to aid inspection, maintenance and repair of weather-impacted assets. The solution is comprised of:

  •       Watson Visual Recognition
  •       Esri ArcGIS geospatial analytics and map visualization
  •       IBM Maximo Enterprise Asset Management
  •       Weather Company data
  •       Elements of the IBM Data Science Experience (DSX)

When we bring these elements together, we can realize two immediate benefits: improved worker safety and lower maintenance costs.

Managing your robotic assets

How does the world’s largest industrial robot maker manage a cognitive factory? Masahiro Ogawa, Corporate VP & GM Robotics Division, Yaskawa Electric, will be at THINK to tell us.

How EAM is reinventing operations

IBM’s Stephan Biller, VP of IoT Product Strategy talks us through the way companies are reinventing operations with Enterprise Asset Management. Stephan will examine how to get the most value from enterprise assets connected to a digital ecosystem. He’ll also explore how data analysis can yield insights that drive smart-decision making for predictive maintenance and inventory optimization.

At this session you can learn from organizations that are well on their way to achieving this. Organizations that are using digital twin to improve processes and asset reliability. And performing cutting-edge analytics on asset and business process data to uncover patterns and optimize inventory. You will walk away with more than just new ideas. You’ll also have the practical information necessary to help you drive excellence in your company’s business operations.

Extending Enterprise Asset Management with Blockchain business networks

This session provides an overview of IBM Maximo and Blockchain integration. It will cover available solutions, use cases and how to get started. Connecting Blockchain applications to Maximo streamlines business processes and opens up new business opportunities. Maximo can send transactional data to the blockchain, which incorporates the data into a business transaction. It then stores the record in a shared, indelible ledger. Secure and irrefutable sharing of data between parties enables a new generation of open, transactional applications that streamline business processes.

Talk to our clients and partners

Our clients and partners are ready to share their Enterprise Asset Management experiences. You’ll learn how Esri, Daqri and Samsung are expanding the ability of Enterprise Asset Management to ‘locate’ and ‘see’ assets in the field. You’ll hear from our energy and utilities clients: Cenovus Energy, Kuwait Oil Company, Diamond Offshore and Yaskawa Electric. Or our transportation clients, Atlanta’s MARTA, Cummins, and Amsterdam’s Schiphol Airport. The campus floor will bring additional opportunities to learn. I really appreciate the thoughtfulness that’s been put into really making it feel more like a community – with theatre sessions, demos and food service all contained in our Business and AI area. There will be a cognitive car and cognitive factory exhibits and lots of time for networking and interaction.

Not convinced yet? Let us entertain you!

These are just some of the highlights, but there’s a lot more to come. You can even build a tailored curriculum with the help of IBM Watson to ensure you use your time effectively. Get started here.

And finally, there’s the all-important chance to let your hair down. The growing entertainment line-up includes award-winning performers Train, Bare Naked Ladies (BNL) and the Chainsmokers. How are you going to decide?

Register today

I hope that helps convince you of the value that Think will provide.  I look forward to seeing you there! Register today for THINK 2018, and join me and 39,999 friends in Las Vegas.

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Internet of Things blog

The Future Is Asset Visibility

The Future Is Asset Visibility

An article by Marc, Editor at IoT Business News.

The Future Is Asset VisibilityThere is hardly an escape from the Digital Age. Nearly one-third of the top 20 market leaders will experience disruption by 2018, regardless of industry. Asset-intensive industries — including those in utilities, manufacturing, logistics, aviation, and construction — are hardly immune to the upheaval; if anything, they are plagued by competition from lower-cost countries, wounded by unpredictable events like natural disasters, and harassed by pressures to maintain high health and safety standards, environmental efforts, and more.

The only conceivable solution to these problems is embracing digital technology. By adding connected and smart devices to the supply chain, asset-intensive businesses can have greater control over quality and costs while continuing to innovate products and services. Yet, to do this effectively, businesses also need IT asset visibility.

What Is Asset Visibility?

At its most basic, asset visibility is having accurate information on the identity, location, movement, and status of units, equipment, materials, supplies, and personnel. Asset visibility isn’t a new concept; the term has been in use for well over a decade. Indeed, most industries take pains to know exactly where their resources are at all times, including the military, which coined the term.

For many years, businesses have struggled to gain total visibility of total assets — meaning, they can view some assets all of the time or all assets some of the time. For example, total visibility or some assets provides rich information, typically concerned with tracking, monitoring, and control, of an organization’s most strategic assets, such as its products. Barcodes were perhaps the biggest breakthrough with total visibility. Conversely, an example of visibility of total assets provides a comprehensive and unified look at an organization’s resources, usually for the purpose of a risk management. However, this latter situation doesn’t give leaders deep data on their assets, only enough to get by. Total asset visibility combines the benefits of both options to give organizations complex intelligence and complete control over their assets.

In the past, asset visibility consisted of records of departed shipments. Thus, when shipments were in transit, neither businesses nor customers could know for certain the location of those assets. Modern asset visibility systems provide real-time tracking of assets, so interested parties can determine exactly where their items are. Even better, advanced systems use dynamic forecasting to track variables like route congestion, loading processes, and more to provide accurate predictions of delivery. This information ensures greater control over assets, which is beneficial in a variety of ways.

4 Ways Businesses Benefit From Visibility

Knowing where assets are and what they are doing is valuable in at least these four ways:

  • Businesses can track assets inside their facilities. Employees can waste hours searching for the items they need to accomplish their daily tasks. For every minute a nurse spends looking for an available wheelchair, a patient is not receiving appropriate care. Asset visibility should tell employees where their tools are to maintain smooth operation within an organization.

business network

  • Businesses can track their assets in transit. As mentioned above, without asset visibility, shipping predictions are little better than educated guesses. Assets should be tracked every minute, especially when they are on the move, so businesses know exactly when they will arrive and be usable.
  • Businesses can maintain an accurate inventory. Inventory work is notoriously laborious — but not with asset visibility. Because businesses track assets from their creation to their sale, inventory systems linked with asset visibility systems should function flawlessly. No more will a business promise a customer an item that is no longer in stock.
  • Businesses can monitor equipment status. Equipment that isn’t working — or isn’t working to the best of its ability — costs undue money. If a food processor stores its goods in a freezer that is even a few degrees off, the entire inventory might be spoiled. With asset visibility, businesses can monitor the performance of vital equipment and take preventative or remedial action as soon as something looks awry.

Asset Visibility and the IoT

IT assets, meaning computers, servers, routers, and similar devices, are relatively straightforward to add to asset visibility systems because they already boast connective technology. Given the right management system, any IT team could have a company’s assets visible in a snap.

However, thanks to the Internet of Things, more assets can be visible than ever before, and the process of tracking and controlling those assets is increasingly easy. Large machinery, individual products, vehicles, and more can be fitted with sensors that communicate with the central asset visibility system, providing comprehensive information on their status and location. If the future is asset visibility, then the IoT is bringing the future into now.

The post The Future Is Asset Visibility appeared first on IoT Business News.

IoT Business News

Alchemy launches ‘no code’ IoT asset intelligence

Alchemy launches ‘no code’ IoT asset intelligence

Newly launched Alchemy IoT outlines its plans for a new approach to managing industrial assets using artificial intelligence.

Alchemy IoT, a provider of IoT asset intelligence for industrial IoT, launched last week with $ 4 million in funding.

According to the company, its product is driven by a ‘no-code’ approach to what it calls ”IoT asset intelligence”. This, apparently, focuses on simplifying how management, performance and maintenance of industrial assets can be improved using artificial intelligence (AI) and machine learning.

The company plans to target small to medium-sized industrial customers with limited technical and data science resources – the sorts of organizations that find it tough to bring complex IoT applications online.

Read more: IIoT could revolutionize UK manufacturing, says Siemens-led report

Shifting value stream

Alchemy IoT CEO Victor Perez says that the cloud-based approach behind his team’s software eliminates complexity and cost from big data and IoT initiatives, by shifting the “value stream” to the IoT asset itself.

He and his team have built standardized workflows to enable the adoption of the company’s ‘Clarity’ application, software that creates a digital twin of industrial assets. Using Clarity, users can visualize asset information in the form of graphical dashboards, analyze asset performance through unsupervised machine learning and take proactive action to increase the productivity of industrial fleets and machinery.

“Clarity delivers self-learning, predictive analytics to automate complex tasks typically performed by high-cost and scarce data scientists. Offering asset data analytics through a low-cost SaaS [cloud] model also enables customers to quickly deploy and scale thousands of devices within 48 hours of using Alchemy’s auto-provisioning capabilities,” said Perez.

Read more: Survey shows IIoT has “crossed the chasm”, claims Zebra

AI via SaaS AI, for IoT

To clarify then, that’s device asset intelligence (AI) analysed using cloud-based artificial intelligence (AI) from a young operation taking a comparatively new set of AI tools (in both senses of the acronym) to market.

The operation of this software, meanwhile, depends on Alchemy’s proprietary Self-Learning Maintenance Algorithm (SeLMA), which seeks to make each connected asset more intelligent in terms of its awareness of its own operational state.

“Clarity simplifies how data is viewed and analyzed to track maintenance activities, monitor alerts and receive critical feedback on asset performance. Core features of the application include sensor data monitoring to aggregate and filters data related to the health, operations and performance of connected industrial assets to deliver real-time data, including mobile assets tracked via GPS,” said Perez.

The product also features notifications and alerts when operational anomalies are detected. It is mobile enabled and there are customization options to tune dashboards and event actions.

Coming soon: Our Internet of Manufacturing event will be coming to Munich on 6 & 7 February 2018. Attendees will get the chance to learn more about how smart devices and sensors open up new paths to increased productivity and profitability for industrial companies. 

The post Alchemy launches ‘no code’ IoT asset intelligence appeared first on Internet of Business.

Internet of Business

4 inspiring stories from the front lines of asset maintenance

When I think about what makes my job exceptional, it’s that I get to work with people who infuse honesty, intelligence and integrity into everything they do. It is more than just the technology we use or the awards we win. For starters, it is the feeling of knowing that every customer we serve has the transparency they need to make better decisions and improve how their business operates. It is also the knowledge that we employ hundreds of people with disabilities including veterans. Finally, it is the ability to constantly reinvent our processes to save our customers’ money to reinvest in new projects.

Doing the work we do – managing 8 million sq. ft of facilities space, performing thousands of vehicle repairs, operating 500,000 sq. ft of warehouse space, and managing an inventory valued at $ 750M – provides many opportunities for stories of innovation. Today, I wish to share some of my favorite front line stories.

Skookum Contract Services receiving the 2017 Uptime Award for Outstanding Maintenance & Reliability Program

1) Meter readings go mobile

When we assumed maintenance responsibilities at Army Base Fort Lee located in Richmond, VA, we took responsibility for meter reading and reporting for the facility.  At the outset, there were three individuals who would go and manually record the readings. They would then come back and feed the data into the system. As you can imagine, this was time-consuming and prone to error. We installed Maximo and provided hand-held devices to the technicians.

Immediately, we saw accuracy and efficiency go through the roof! Not only were we inputting the data in real-time, we added parameters that would guide the technician with their input if it was outside expected parameters. If the reading was outside the anticipated parameter, the technician could take an image of the reading and attach it to the work order for verification, then move on to the next meter. By keeping them focused on reading meters, we gained efficiencies while allowing Maximo simultaneously create a child work order to diagnose the potential issue by specialists.

We went from three people reading meters to one individual with disabilities – creating fantastic increases in efficiency. As a side benefit, the ability to locate via GPS, communicate via text or video allows for peace of mind as well. A win- win for all!

2) The smartest people we work with are technicians

In some ways, maintaining the barracks of an army base is like managing hotel rooms. Before each occupancy, the barrack must be inspected. Using “eForms”, a Skookum developed electronic form, the technician enter the barrack and perform the necessary quality inspections. Checking the lightbulbs, power outlets, confirm the a/c is working, look for holes, check the screens, etc. For each item, the technician would toggle an affirmative ‘Yes’ on the “eForm” using their iPad. With thousands of rooms to inspect, they quickly found it was very time-intensive to constantly toggle ‘Yes’.

To improve efficiencies, the technicians proposed the idea of assuming everything works and flip the form on its head. Instead, they would only toggle ‘No’ if there was an issue. This allowed Maximo to create real-time trouble work orders, route it accordingly allowing for resources to repair.   This tiny change in process saved our customer thousands of hours increasing efficiency. All because of a simple great idea from our technician.

3) Transparency in asset maintenance leads to client satisfaction

For nearly any task, there is a series of steps that, if followed, will ensure the job gets done right. We knew if we could get the right “recipe” for every task, we would save hours and gain efficiencies for our customers. This is why we created automated checklists, again based on the” eForm”. These checklists give the technicians the right recipe every time to ensure high consistent quality and save time with paperwork. Over time, we were able to incorporate a history for each asset and by having this information at the technician’s fingertips, they can best service the device. All of this work is available to our customer as they too have access to our systems as well as regular reporting proactively routed to their inbox.

4) Customizing inventory needs by technician

We had a huge inventory of spare parts – thousands of warehouse square feet all of which we inherited from a prior provider. Over time, we were able to schedule our preventive maintenance activities well in advance, coordinate the technician, and build the of PM parts needed for the month. Knowing this, we took these scheduled activities to our parts provider and asked them to shrink-wrap the parts by technician. The part “kit” was shipped to our site just in time allowing us to reduce our inventory handling costs. Once again, we achieved savings and shared it with our customer. This is often returned to us in the form of more work.

Honesty, transparency, & quality are the keys to our success

As you can see, the qualities that embody Skookum weave their way into every aspect of our business. Using Maximo, and empowering our technicians to think of innovative ways, allows us to continue to see incredible growth and create opportunities for people with disabilities.

Learn more about Skookum and read about why we won the 2017 Uptime Award for Outstanding Maintenance & Reliability Program.

Learn more about IBM Maximo for your enterprise asset management needs.


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