Use Cases Asset Lifecycle Management (ALM)

Asset Lifecycle Management (ALM)

The objective of Asset Lifecycle Management (ALM) is to optimize the profit generated by assets over the course of their lifecycle. ALM integrates processes and technologies in order to manage asset portfolios, execute projects, and facilitate efficient asset management practices. Whereas Asset Health Management (AHM) deals with monitoring and optimizing the health the asset in real time, ALM extends across the lifecycle of the asset from design, to procurement, commissioning, operations, maintenance, and decommissioning. IoT technologies enable superior visibility, forecasting, and feedback loops across the ALM process. 

 

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IIC Asset Efficiency Testbed
IIC Asset Efficiency Testbed
A recent study on maturity of Asset Efficiency from Infosys and the Institute for Industrial Management (FIR) at Aachen University revealed that 85 percent of manufacturing companies globally are aware of asset efficiency, but only 15 percent have implemented it at a systematic level. Current challenges include lack of instrumentation of the assets, missing real-time data analytics, lack of context due to missing information from other systems, and lack of a holistic focus with other aspects of efficiency like energy, utilization, operations, and serviceability. GOAL To collect asset information efficiently and accurately in real-time and run analytics to make the right decisions
Coca Cola Swaziland Conco Case Study
Coca Cola Swaziland Conco Case Study
Coco Cola Swaziland, South Africa would like to find a solution that would enable the following results: - Reduce energy consumption by 20% in one year. - Formulate a series of strategic initiatives that would enlist the commitment of corporate management and create employee awareness while helping meet departmental targets and investing in tools that assist with energy management. - Formulate a series of tactical initiatives that would optimize energy usage on the shop floor. These would include charging forklifts and running cold rooms only during off-peak periods, running the dust extractors only during working hours and basing lights and air-conditioning on someone’s presence. - Increase visibility into the factory and other processes. - Enable limited, non-intrusive control functions for certain processes.
Water Treatment Energy Management
Water Treatment Energy Management
Water pumping, treatment and conveyance are among the largest energy and cost outlays for many local and regional municipalities. Electricity time-of-use rates and peak pricing tariffs are driving those costs even higher. This case study describes how Monterey Regional Water Pollution Control Agency (MRWPCA) implemented a process data monitoring and control solution in order to analyze and optimize energy use, reduce deployment costs and save operational expenses.

The Application Lifecycle Management (ALM) market is expected to grow from USD 2.58 Billion in 2017 to USD 3.63 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. 

Source: PRNewswire

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