Asset Performance Management with SAP
Spend Less On Maintenance
Successful asset management balances cost, risk, and performance, while maximizing value from assets. You have to do more than follow an inflexible preventative maintenance scheme. Over-maintaining assets will result in excessive operating cost while neglecting upcoming failures will result in potential damages.
In the past, planners used external, disconnected systems to make asset performance visible and find the right maintenance strategy. Times have changed.
With Rizing, your asset management improves by using reliability-centered, condition-based, and predictive methodologies.
Do These Challenges Look Familiar?
Assets age, wear down, and break. New safety risks emerge, capital costs rise, and unexpected failures occur despite strict maintenance schedules.
Most companies lower the risk of failure by using fixed-interval, preventive maintenance strategies. If the asset isn’t critical or is redundant, they’ll run the asset until it fails.
Planners use operating data from assets to determine the asset’s condition and schedule maintenance before a potential failure. Running maintenance at fixed intervals can lead to over-maintaining.
Managers can’t tell how much a budget reduction would affect the risk of failure or how to increase reliability and availability of the asset system by improving maintenance efforts.
How Can You Overcome These Challenges?
It all starts with building a “digital twin” that contains the configuration and the condition of your assets. Based on data from actual asset system behavior and your business goals (“line of sight”) you can define a proper maintenance strategy and act upon it. APM then becomes a continuous series of plan-do-check-act cycles.
Asset Performance Management at a High Level
|A digital twin fully describes a physical asset (system). It needs to monitor the condition of this asset in near real-time and can be used for decision-making.||Defining the asset strategy is finding a balance between the performance of each asset, the cost of that performance, and the the risk it brings.||View asset condition and performance, simulate asset behavior, and predict failures. Initiate actions and recommendations.||Manage assets and balance preventive, condition-based, and predictive maintenance.||Continuously monitor the performance and effectiveness of the maintenance strategies.|
SAP Solutions To Help
Complementing the digital core (may it be SAP ERP or SAP S/4HANA) there are cloud-based solutions to discover patterns of failure (using machine learning algorithms), predict the future condition of an asset, or establish and verify the right maintenance regime.
- Enable better decision making and reduce the probability of asset failure using a risk-based maintenance approach.
- Adopt Reliability Centered Maintenance (RCM) processes, including Failure Modes and Effects Analysis (FMEA).
- Manage performance to optimize return on assets across lifecycles. Monitor, review, and improve maintenance strategies.
- Reduce bottlenecks, improve decision making, and prevent incidents using a holistic view of asset types and maintenance strategies.
Ready to Learn More?
Start with the business first. Learn how to prepare for asset performance management and predictive maintenance by downloading the following white papers.
Whitepaper | Preparing for Asset Performance Management (APM)
Asset Managers and Asset Investment Managers need more than the standard maintenance management systems currently provide. But how can this be achieved?
Whitepaper | Predictive Maintenance
Many companies don’t treat maintenance as a strategic business function. But the results show – maintenance has tremendous impact on a company’s profitability.