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Kim Custeau, APM Business LeadNo business wants to be blindsided with unplanned downtime, and analysts agree that it’s disastrous for business, but the global deployment of Industry 4.0 still remains low. A report from IoT Analytics found that North America, specifically the U.S., was ahead, but less than 30 percent of manufacturers globally said they have extensively adopted these technologies.
When it comes to preventative maintenance, it’s time for organizations to strategize for asset performance management (APM) and risk-based maintenance to meet power demands with less strain on the grid. Kim Custeau, APM Business Lead at AVEVA, discusses the importance of incorporating preventative measures to build longevity. She develops and leads the strategy for industrial Asset Performance Management solutions that help AVEVA customers improve asset reliability and performance to maximize return on capital investments and increase profitability. Kim holds more than 30 years of experience in industrial asset management software and services.
Don’t tolerate downtime
Today, preventative maintenance based on time or usage statistics is one of the most commonly adopted approaches to keep industrial operations running. North America is estimated to dominate the global APM market, reflecting a large number of data centers in the region and the increased popularity of technology, according to Research and Markets. Most importantly, the energy and utility segment of the predictive maintenance market is predicted to grow at the highest CAGR through 2025, according to Markets and Markets.
Current best practices dictate that maintenance should be performed at regular intervals to reduce the probability of asset failure.
However, this approach often results in either over-maintenance or under-maintenance of assets due to differences in equipment ages, operating environment and unpredictable performance.
This practice needs to stop. In fact, a zero-tolerance approach to unplanned downtime will become the norm across energy companies as the industry develops and invests in their industrial digital strategies, including APM. APM prepares businesses to manage assets and machinery by implementing technologies that exist today.
Across the U.S., downtime is the single largest source of lost production time. One past survey from GE Digital cited that only 12 percent of respondents from organizations in the U.S. consider their organization to be exactly where they need to be, and ahead of their competitors in terms of their digital industrial journey.
AVEVA’s comprehensive APM software portfolio is designed to overcome today’s industrial challenges by leveraging industrial big data, cloud, artificial intelligence, digital twin, and augmented reality technologies.
Automation technologies connect operations so experts can see what’s happening inside the facility in real-time. Concurrently, mobile tools provide access to that data anywhere, improving collaboration across business units. These data connections through the Industrial IoT, or IIoT, empower experts to engage in more strategic, data-driven decision-making. In turn, it provides a seamless connection to wider business KPIs, making failure in the factory a thing of the past.
A downtime-free future
AVEVA’s comprehensive APM software portfolio is designed to overcome today’s industrial challenges by leveraging industrial big data, cloud, artificial intelligence, digital twin, and augmented reality technologies. With improved analysis and individualized solutions through AVEVA’s APM Maturity Assessment, we help businesses eliminate inefficiencies, optimize operations, and improve profitability. For example, AVEVA solutions allow India’s Damodar Valley Corporation to digitize, reduce downtime, and streamline all processes into an easy-to-use format.
APM allows companies to proactively identify issues, and its incorporation safeguards the future of the factory as we know it. Until a time when machines can fix themselves or not break at all, APM is the only digital transformation worth considering to deliver a future without downtime. Deploying preventative maintenance can ensure a stable future through the U.S. economic cycles.
The AVEVA Acquisition by Schneider Electric Is Complete
Wednesday, February 15, 2023
Schneider Electric's acquisition of AVEVA has been completed. Since its foundation, AVEVA has grown from a niche design software developer to a leading global industrial software company with a value of more than £10bn.
AVEVA’s strategic focus is on becoming the number one SaaS provider of software and industrial information and evolving to a subscription-only business model. The acquisition will help to accelerate this transition.
While AVEVA will now be wholly owned and part of Schneider Electric, intentions have been set out to preserve AVEVA’s business autonomy, future R&D investments, and enhancement of the potential benefits for customers and meeting their needs faster with a stronger portfolio of solutions.
As a result of the acquisition, AVEVA is now more optimally placed, with the collaboration of not just Schneider Electric but all of its partners, to help drive innovation, change and value for its customers.
AVEVA Announces 2023 Process Simulation Competition for Chemical Engineering Students in North America and Europe
Tuesday, August 22, 2023
LONDON --AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has opened entries for its highly anticipated AVEVA Process Simulation Academic Competition. The competition serves as a platform for engineering students in North America and Europe to demonstrate their process simulation skills and offers the chance to secure an internship at AVEVA or take home a cash prize of $3000.
“As an industrial software provider, AVEVA is committed to inspiring chemical engineers to help solve the world's sustainability challenges from the early stages of their careers. The 2023 AVEVA Academic Competition is designed to encourage students to develop professional skills and solve real-life engineering problems.”
The contest is open to students residing in the US, Canada, UK, Switzerland, Norway, and EU.
The annual AVEVA Process Simulation Academic Competition is an exceptional opportunity for chemical engineering students to enrich their process simulation skills using the latest technology.
Participants are invited to tackle real-world sustainability problems using AVEVA Process Simulation, the new paradigm in process engineering. Even students with no prior experience can dive into this easy-to-learn software to unlock their potential.
Mihaela Hahne, Sr Director Sales Development – Academia at AVEVA, said, “As an industrial software provider, AVEVA is committed to inspiring chemical engineers to help solve the world's sustainability challenges from the early stages of their careers. The 2023 AVEVA Academic Competition is designed to encourage students to develop professional skills and solve real-life engineering problems.”
AVEVA’s competition plays a significant role in developing a new generation of engineers, alongside achieving its goal of driving sustainable and inclusive industrial growth.
In 2021, the AVEVA Academic Competition attracted more than 100 entries. A total of 46 teams of four individuals each, and 32 individual students from 20 universities across North America entered the event that year. In the same year, 59 individual students and 53 teams of four entered the same contest from Europe.
Hahne added, “We have witnessed some remarkable achievements in previous years. We believe that by partnering with the universities, we can help design and build a sustainable future together. Today's students will shape the future of our planet and tackle the challenges presented by a changing climate.”
Lea Scharli, Simulation Support Engineer at AVEVA said, “The AVEVA Process Simulation Academic Competition is a great opportunity for students to work on real problems and gain insight into the possibilities of process simulation. Having participated in the previous edition of the competition, I was challenged to put my theoretical knowledge from university into practice – which has now led to me working at AVEVA as an engineer! Through this program, AVEVA supports students professionally and personally, and opens several avenues for progression. The potential is endless with AVEVA Process Simulation. Engineers and users can implement their own models, which enables us to work freely and solve problems creatively.”
This year’s challenge concerns the production and transportation of hydrogen in a clean and sustainable manner. Students will use the same tool currently deployed by the biggest chemical companies. Experience using the same software as potential employers puts participating students ahead of their peers and enhances their professional profile.
AVEVA Process Simulation is cloud-enabled software used to design and optimize equipment, processes and plants. Groundbreaking ease-of-use and simple data connections allow engineering teams to evaluate more ideas, faster. Greenhouse gas metrics built directly into models help put sustainability at the heart of process engineering.
Company
AVEVA
Management
Kim Custeau, APM Business Lead
Description
AVEVA is a global leader in engineering and industrial software driving digital transformation across the entire asset and operations life cycle of capital-intensive industries. The company’s engineering, planning and operations, asset performance, and monitoring and control solutions deliver proven results to over 16,000 customers across the globe. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries
