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asset management

Invasystems to Adopt Falkonry’s “Ready to Use” Machine Learning System for Digital Oilfield Apps

Invasystems will leverage Falkonry LRS to provide predictive analytics that can help their oil and gas customers reduce OPEX and increase production.

Falkonry will be at the upcoming ARC Industry Forum to discuss how machine learning is reducing downtime and improving throughput in industrial operations.

Asset Management

Q&A with Industry Leader Mildred Chua

Keep New York Moving.

That is the corporate mission and overall vision of the Metropolitan Transportation Authority (MTA). So what does it take to keep the largest city in the United States up and running?

According to Mildred Chua, Vice President & Chief Financial Officer for MTA Bridges and Tunnels, “I believe that best practices in asset management will enable our organization to use our infrastructure to provide safe and reliable service to our customers. By managing our physical assets well, not only are we able to work toward ensuring high performance for our bridges and tunnels, but we are also able to realize the goals of maximizing our revenues while optimizing the cost of delivering our services.”

Asset Management

Increasing Uptime Through a Service Relationship Management Approach

Although the Internet of Things (IoT) has the ability to provide organizations with an astounding amount of data to help increase uptime, reduce total cost of ownership and improve operational efficiencies, companies are not using this data to its fullest potential. In fact, according to a report by McKinsey & Company, most IoT data remains unused. The small amount of data that is being used is generally applied only to anomaly detection, with little ongoing, sustainable value being achieved.

Asset Management

Trimble Partners with CalAmp to Deliver Fleet and Asset Management Solutions

Trimble announced today that CalAmp is supplying customized telematics tracking devices and systems management technology for Trimble's Field Service Management (FSM) vehicle and asset monitoring solutions.

Asset Management

SKF combines modern web technologies and a global service capability to improve rotating equipment

A new server-less and micro-service based system, built on Amazon Web Services will give SKF the scalability needed to future-proof its IoT, and asset management initiatives.

Asset Management

Enabling Asset Integrity

The RELIABILITY Conference Learning Session - 44:03
by Jeff Smith, Acuren

There are seven integrity enablers that must be managed, if they are managed not only is reliability insured it is cost optimized. The primary mistake observed in thirty years of reliability study is focusing on maintenance as a reliability optimization tool. To maintain is to keep in current state, so what is it the moves your asset out of its manufactured state? What type of loading creates stresses and strains that damage the asset? What operational parameters move your asset outside its comfort zone? How do your operators react to abnormal conditions? Is your automation control system protecting your asset or just notifying you of impending failures? Are your restoration and renewal programs aligned with your operational campaign?

Value optimization is enabled with integrity management; this complex problem is simplified by applying the simple process covered in this presentation. This process ties together all the value destruction issues and provides a methodology to enable integrity optimization.

You don’t “Maintain” the integrity of an asset you enable the integrity and maintain the results of that effort.

Asset Management

Skookum Contract Services Wins 2017 Uptime Award for Outstanding Maintenance and Reliability Program

Aquitas Solutions, a leading provider of EAM and IoT solutions that optimize asset intensive industries, announced today that long standing client, Skookum Contract Services, has won a 2017 Uptime Award for Best Work Execution Program.

Asset Management

How Complex Should Maintenance Procedures Be?

The level of complexity depends on several factors:

The complexity of the task. Tasks which have multiple steps that must be performed in specific sequence, or contain unusual operations, must be spelled out precisely.
What specific data is needed

...

Asset Management

Bentley Institute Press Announces Availability of New BIM Publication: Plain Language BIM

Bentley Institute Press, publisher of a broad array of textbooks and professional reference works dedicated to BIM advancements in the architectural, engineering, construction, operations, geospatial, and educational communities, today announced the availability of their newest title, Plain Language BIM, now available as both a print publication and as an eBook for Kindle and iOS devices.

Asset Management

World’s Most Critical Industries: Study Reveals Valuable Lessons

What’s worse, a disruption in a major city’s rail system or extended downtime in a cloud data center?

The answer, of course, depends on your perspective. If you’re one of thousands of people who use the rail system to get to work and you can’t afford to miss a day, that disruption is no small matter. But, if your business relies on the Cloud and you’re losing thousands of dollars for every minute of downtime, you might consider your situation more serious than that of the stranded commuters.

Asset Management

Product Value Management: Boosting Performance Through Asset Redesign

Achain is only as strong as its weakest link. Many businesses address this issue by focusing efforts on identifying and strengthening the weakest link. But, is this the best solution? Rather than accepting the existing chain with its weaknesses as given, reconfiguring or redesigning the whole chain can potentially eliminate the weakest link altogether.

This is the reasoning behind product value management (PVM), a holistic approach that can help asset managers redesign assets to boost performance without adding lifecycle costs or complexity.

Asset Management

No More Spreadsheets: The New Paradigm in Asset Strategy Management

Microsoft Excel^® is an amazing tool. Yet, it has its limitations and flaws for engineers who aren’t trained in computer programming.

The main problem with spreadsheets for managing maintenance programs is human error. No matter how fastidious you are when creating a spreadsheet, a single line of data that is entered incorrectly, or worse, an inaccurate user-defined formula, can have huge implications down the road.

asset management

Invasystems to Adopt Falkonry’s “Ready to Use” Machine Learning System for Digital Oilfield Apps

Q&A with Industry Leader Mildred Chua

Frost & Sullivan Recognizes Bentley Systems as a Global Provider of Customer Value…

ABB launches asset optimization software to support digital transformation

Increasing Uptime Through a Service Relationship Management Approach

L&T Technology Services Launches Digital Industrial Transformation Go-To-Market Powered by Microsoft

Emerson Named ‘Industrial IoT Company of the Year’

Trimble Partners with CalAmp to Deliver Fleet and Asset Management Solutions

From Science Fiction to Reality: U.S. Navy Technology and Innovation

SKF combines modern web technologies and a global service capability to improve rotating equipment

Enabling Asset Integrity

Skookum Contract Services Wins 2017 Uptime Award for Outstanding Maintenance and Reliability Program

How Complex Should Maintenance Procedures Be?

Bentley Institute Press Announces Availability of New BIM Publication: Plain Language BIM

Fluke Accelix integrates condition monitoring, CMMS and SCADA to advance data-driven maintenance

December - January 2018

AspenTech Acquires IIoT Cloud-based Software and Edge Connectivity Assets of RtTech Software Inc.

World’s Most Critical Industries: Study Reveals Valuable Lessons

Product Value Management: Boosting Performance Through Asset Redesign

No More Spreadsheets: The New Paradigm in Asset Strategy Management