Hitachi Energy’s Next Generation APM Tool Supports Reliability And Investment Planning

Hitachi Energy’s Next Generation APM Tool Supports Reliability And Investment Planning

In today's fast-paced, ever-evolving world, asset-intensive organizations face a unique set of challenges, from minimizing unplanned downtime to optimizing maintenance spend to extending asset life. In the Verdantix operational excellence global survey, 65% of the 304 operations, maintenance, process safety and engineering executives interviewed stated improving asset uptime or availability, reliability and integrity as the top operational excellence initiative to increase investment over the next 12 months. Driven by digitization goals, the emergence of AI analytics, net zero agendas and operational performance pressures, asset-intensive organizations worldwide are embracing digital transformation solutions. In particular, firms are turning to asset performance management (APM) software to optimize performance, reliability and environmental KPIs. As such, Verdantix forecasts that spend on APM software will grow from $2.5 billion in 2022 to $5 billion in 2028.

In response to these needs and the growing market, Hitachi Energy has announced the next generation of its APM software solution, Lumada APM. Building on its market leading strengths for asset health monitoring and failure prediction, the firm has developed capabilities to seamlessly implement system reliability engineering methodologies and optimize portfolio resources to balance performance, risk and cost. The two new modules Hitachi Energy has released alongside its existing Lumada APM Health module are:

• Lumada APM reliability: This user-friendly, no-code or low-code solution is specifically crafted for reliability engineers. It allows them to dynamically evaluate risks and simulate different asset intervention scenarios based on factors such as probability of failure and potential impact on the overall process. The module takes into account various considerations, including financial costs, environmental impact, system reliability and safety factors. Additionally, it offers FMECA (failure modes, effects and criticality analysis) to identify and prioritize potential failures.
  
  
• Lumada APM optimization: By taking advantage of decision factors – including strategies to build fleet maintenance programmes, planning investment costs and resources, environmental scenarios, and resource constraints – asset managers are presented with an optimized list of asset intervention projects. This allows them to develop financially optimized, long-term asset investment planning strategies.

The APM software market is evolving rapidly, with buyers increasingly expecting APM solutions to not only minimize asset downtime and maximize asset reliability, but also support process optimization, lifecycle analysis and environmental performance. Hitachi Energy’s Lumada APM is positioned to play a valuable role in supporting industrial firms in their asset management journeys, from automated data collection to real-time monitoring, failure prediction, long-term capital planning and optimized asset life cycles.

For more information on solutions that support asset management, visit the Verdantix operational excellence research portal.