Since automation is becoming increasingly prevalent across industries, mechanical devices are being replaced by electronic components in manufacturing, industrial and factory environments, says industry software solutions provider Industrial Software Solutions & Support (IS³).

This evolution means more sensors are being used to capture additional types of data. The more in-depth data these sensors can capture, the greater the visibility and insight for owner-operators.

One essential part of asset performance management (APM) 4.0 is sensor-based decision-making with true lead performance indicators. Various sensors and mobile devices provide decision-makers with real-time data on the condition, performance and safety of their assets, enabling more precise decisions. In stark contrast to the widely used and typically lagging indicators that report failures only after they occur, condition monitoring, artificial intelligence, and engineering expert systems use sensor data to predict performance degradations and component failures before they happen.

“Industrial equipment necessitates planned shutdowns and scheduled maintenance times for its successful operation. Owing to this, the promise of APM 4.0 isn’t to keep assets in a perpetual online state; rather, APM 4.0 empowers you to maximise your return on investment by letting you take full advantage of sensor data so you know exactly how each individual asset – from the most critical to the least vital – should be managed and maintained to best mitigate risk and capitalise on opportunities,” explains IS3, the only authorised distributor of industrial software company AVEVA’s products in Southern Africa.

APM focuses on achieving asset and process excellence in five key areas – safety, environment, cost, performance and condition.

A focus on safety ensures that the people who operate the asset are safe and adhere to equipment specific regulatory requirements. Often these are local requirements defined by country and industry. Breaching compliance carries the serious risk of the loss of a company’s licence to operate.

In terms of the environment, APM also targets compliance with regulations regarding the environmental impact, emissions and footprint, for example, of the asset’s operations. This also includes all sustainability objectives.

Further, the total operating and maintenance costs of the asset are highly interdependent and need to be managed in an integrated way (such as running equipment outside of the operating window to increase the degradation mechanism and deteriorate the asset’s condition). Cost directly influences the operating income of the asset.

To ensure performance excellence, consideration is given to how efficiently and effectively the asset is operating to create the desired output. This is heavily dependent on the type of industry. Typically, it is based on the throughput, yield, and quality of the manufactured product. Performance will directly impact the revenue that is generated by the asset.

Finally, condition, the traditional field of APM, is where the emphasis is on achieving high levels of asset reliability and availability. The asset’s health is dependent on the condition of its maintainable items and the investments that are required for asset replacement heavily depend on how well the condition can be maintained. Asset availability directly affects asset revenue.