The design and debottleneck of plants often require multiple iterations of engineering and capital expenditure (CAPEX) analysis. No matter how well an asset is designed, once operational, new variables come into play allowing for further optimization opportunities to arise. The handoffs between design, construction and operations bring new wrinkles to the entire system. What may seem like an inconsequential decision in one area may have a significant impact in another.

Early returns from an ARC Advisory Group survey indicate that optimizing plant performance and eliminating process upsets are considered a critical component of asset performance management (APM) systems. Many leading companies are successfully using APM solutions—including machine learning or AI—for rotating equipment and static assets, with 27% of those also applying AI to optimize the process or production.

Today´s executives are faced with the complex challenge of maximizing profitability while meeting sustainability and corporate social responsibility (CSR) objectives. Using APM 4.0 to identify efficiencies across the organization can drive operational excellence, which in turn can lead to significant advancement of sustainability objectives.

You and your organization know that contributions from maintenance are key to improving operations and helping your company stay competitive. However, many teams are not yet taking advantage of the latest advances in asset performance management, or APM, to help make the right decisions to drive an effective maintenance strategy.

Demand for asset performance management (APM) solutions is on the rise as industrial organizations are seeking to increase profit margins while improving the reliability and safety of their operations. This report from independent research firm Verdantix provides executives with an up-to-date analysis of 27 prominent APM solutions on the market. Register now to download your free copy.

Independent research and advisory firm Verdantix surveyed 42 executives worldwide to gain insights on the expectations for Asset Performance Solutions (APM). The survey found that 100% of the respondents viewed APM as critical to meeting their business objectives, and 82% relate energy consumption and emissions reduction goals to APM. While these solutions have become the norm for predictive and prescriptive maintenance, companies are also beginning to turn to APM 4.0 to drive performance and sustainability.

The Asset Performance Management (APM) space is evolving rapidly, and a key challenge for many plant teams is scaling and integrating APM solutions across their enterprise. IT and OT convergence also continue to drive the need for innovation.

Each day, millions of dollars are lost due to unplanned downtime. More than 80% of machine failures will occur regardless of the maintenance performed. Watch this video to learn how AspenTech's Asset Performance Management (APM) suite leverages the power of predictive and prescriptive analytics to improve the reliability of your system, processes, and equipment.

AspenTech provides AI-enabled digital solutions that help customers optimize outcomes across the pharma value chain network using a holistic approach to digital transformation in an ever-changing world. Learn how our approach ensures the security of supply and pushes the boundaries and limits of what is possible for optimization, multiplying performance gains from digital transformation in this video.

Learn about AspenTech's 3 keys to a successful customer relationship: trust, effective communication and customer focus. We're shaping the strategies for our solutions around the value we deliver and the problems that we help our customers solve.