Endowance Solutions and Senseye have jointly introduced IACP – Integrated Asset Condition Performance. Business leaders seek new ways to generate revenue to stay ahead of the competition and navigate an ever-challenging market. This joint solution automates an organization’s response to prevent asset failure by proactively addressing real-time events resulting in increased asset uptime and a longer, more productive lifespan.
Here are some of the benefits an OEM will receive from adopting an IACP model:
Broader and deeper understanding of equipment performance leading to improved performance
Provide a service with daily interaction leading to a closer working relationship with customers and a better understanding of their needs – and how to satisfy them
A closer relationship raises the barriers to entry for competitors, making it harder for another supplier to leverage an opening
Businesses that are more prepared to use technologies and collaborative software, such as proactive machine monitoring and sharing data via the Internet, using IIoT technology, identify themselves as leaders, innovators, and effective collaborators in the market
IACP sends out a positive message to customers. It is a filter on the equipment manufacturers who may be under consideration for a supply contract. Manufacturers’ confidence in their products can lead to a guarantee against unscheduled downtime; it is a big differentiator. Real-time response to alerts and anomalies prevents unscheduled down time and reduces scheduled downtime by eliminating unnecessary service and maintenance.
Better data means more informed decision-making. IACP replaces guesswork with fact-based, fully informed, data-driven decision-making. In this way, manufacturers will better understand asset lifecycles, and that improved understanding will feed back to improved design. The cause of common faults will be identified and action taken. Reactive servicing – sending an engineer when something has broken – will become a thing of the past. It’s an expensive, unpredictable way of doing business and barely managed effectively. When an asset is maintained proactively, the results will lead to financial performance improvements.
Click here to download the complete White Paper "IACP - Enabling a competitive, profitable future for manufacturers and OEMS"