How Can you Optimize your Maintenance Strategies and Closely Monitor Asset Health?
In the maintenance of technical assets, there are various approaches such as time-based, or performance-based maintenance. Although these classical approaches still are relevant in certain situations, they do not consider the individual risk of an asset and the consequences that are part of it. Therefore, a risk-based approach can be a valuable part within the overall asset strategy.
In the risk-based approach, assessments are used to evaluate potential risks and consequences that can impact your business.
At the same time, and closely linked to a risk-based maintenance process, you want to monitor asset health in real time. This can be done by monitoring sensor data and raising alerts in case a threshold is exceeded.
Sensor data can then be used in AI and ML techniques to recognize failure patterns, to detect anomalies, and to determine failure probabilities.
Both purposes - a risk-based maintenance process and a sensor-based health monitoring - can be achieved by implementing SAP Asset Performance Management (APM).
Capabilities of SAP Asset Performance Management
SAP Asset Performance Management (APM) is part of SAP Intelligent Asset Management (IAM) - a set of cloud-based applications which extend traditional Enterprise Asset Management.
SAP Asset Performance Management (APM) is tightly integrated with SAP Enterprise Asset Management.
SAP Asset Performance Management allows the reliability engineer to assess asset health indicators and real-time performance to determine maintenance strategy effectiveness. SAP Asset Performance Management has the following capabilities:
- Identify critical assets
- Create risk scores
- Create assessments
- Determine the most suitable analytical process
- Recommend maintenance activities
Steps in SAP Asset Performance Management
The following video provides an information about the steps in SAP APM.
