A recent study by industry analyst firm Verdantix found that 56% of respondents believe that asset performance management (APM) is essential to business success, but few have executed on APM strategies and documented the business value. While APM has traditionally been the domain of maintenance and reliability engineers, its place within process-intensive industries is evolving.

With the rapid escalation of energy prices and geopolitical risk in Europe, energy security has moved to center stage. At the same time, energy and chemical companies need to innovate and transform their business strategies to meet sustainability and profitability goals. Digital solutions are emerging as a strategic tool to help organizations navigate volatility, both short and long term.

Pharmaceutical Processing World_How pharma can optimize for right-the-first-time drug

Industrial organizations require asset optimization solutions to improve overall plant performance and avoid unexpected failures.

The construction industry had been slow to digitalize. The pandemic and growing need to find digital ways of communicating to bring together dispersed project teams and enable them to collaborate has changed all that. Construction firms that will succeed will be those that embrace advanced technology and the latest AI tools that drive operational efficiencies across the end-to-end value chain.

AspenTech is excited to announce the integration of OSI, Inc. and E&P Software, providing new capabilities including Digital Grid Management and Subsurface Science & Engineering. See how the new AspenTech delivers proven results that support your Dual Challenge, meeting the needs of a higher standard of living for a rapidly growing population while achieving your sustainability and profitability goals.

Indian Chemical News Preventive maintenance and using AI

A revamp is underway of a widely revered strategy to avoid or mitigate industrial equipment failures. The failure modes and effects analysis (FMEA) is a core Six Sigma tool for improving processes and products. Recent technology advancements are breathing new life into this longtime, largely unchanged best practice.

A confluence of factors like Industry 4.0, the knowledge gap and COVID-19 have created new expectations among the industrial workforce, including the need to grow and retain industrial data scientists.

Reactor operations continue to be critical for today’s refineries, but reactor simulation solutions have traditionally been difficult to use and maintain. The problem is magnified as experienced engineers and operators retire at a faster rate.