What's the Future for APM 4.0?
APM is moving beyond traditional process safety and asset reliability to support critical performance and sustainability KPIs.
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Independent research firm Verdantix surveyed process industry leaders in 2022 to gain insights on their expectations for APM. The survey was completed by 42 executives worldwide in the oil and gas, chemicals, mining, pharmaceuticals, and food and beverage industries. Download the Verdantix report of survey findings at the end of the story.
Measuring APM Usage
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Report's Key Findings | APM Focus Areas
Traditional solutions are no longer sufficient to achieve business goals.
relate energy consumption and emissions reduction goals to APM.
believe user training requirements are an obstacle.
Report's Key Findings | Adoption Challenges
see budget constraints as a barrier to using APM.
say they have no plans to use APM in 2022.
The evolution of APM can help organizations address both business and sustainability issues.
Process industries are moving quickly into an era of asset performance management (APM) where predictive and prescriptive maintenance help ensure availability, improve safety and reduce costs.
THE RESULT: Millions of dollars saved by avoiding costly downtime.
Using AspenTech's award-winning prescriptive maintenance solution, multinational oil & gas company, MOL Group, predicted failures on major pumps and compressors at its main petrochemical plant 78 days in advance.
Enabling Performance and Sustainability
Evolving to Meet Critical Business Needs
THE RESULT: 60% reduction in downstream treatment chemical use.
APM is evolving to extend benefits beyond operations to help businesses meet financial, sustainability and other critical goals.
Chemical producer Petrocuyo leveraged AspenTech's APM multivariate process analytics solution to continuously predict quality and respond faster to process deviations.
Reaping the Benefits
THE RESULT: $400K USD in energy consumption savings.
Companies leveraging APM to meet operations and business needs stand to realize gains in sustainability, safety, cost savings, efficiency and other areas.
With the help of APM solutions, chemical company Braskem saw over $400K USD in savings during a one-month trial on four furnaces.
Shifting to Performance and Sustainability
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Download Full Report
The Future of APM 4.0 Beyond Maintenance to Performance and Sustainability
for additonal insights into how APM can advance performance and sustainability goals.
Compass to APM 4.0: From Maintenance and Reliability to Performance and Sustainability
for a deep dive on the Verdantix survey results.
