A recent article in Supply Chain Management Review from Kevin Price identified the Top 5 Enterprise Asset Management Predictions for 2018.  This blog post examines how IBM’s Maximo asset management tool supports these EAM trends.

Asset-intensive companies evaluate and acquire EAM solutions to develop and implement effective strategies to cut operational expenses and augment production efficiency.

A recent report by Statistics MRC expects the global EAM market to reach $6.83 Billion by 2022 with an 11.1% compounded annual growth rate. Data Analytics, connected devices and enterprise asset management solutions are changing the way asset maintenance is performed – shifting from reactive maintenance towards condition monitoring (CM) and predictive maintenance (PdM).

Let’s talk about how Maximo asset management is addressing the top 5 EAM trends.

Maximo Integrates with IBM Watson IoT
Along with the standard pre-packaged integration solutions, IBM Maximo integrates with IBM Watson. This integration helps you improve your performance outcomes with connected operations and devices, putting big data to work for you and improving ROI by listening to your machines.

IBM Watson Analytics delivers better insights about the physical health of various assets for any asset-intensive business. Sharing this information within IBM Maximo – a single seamless asset management platform – offers a complete overview of your asset portfolio through Maximo Asset Health Insights (MAHI), available in Maximo 7.6.

What’s the value of integrating IoT with Maximo asset management?

• Reducing unplanned downtime
• Integrating IoT to monitor asset health conditions
• Minimizing asset failure
• Maximizing use of resources
• Increasing asset reliability
• Reducing inventory cost
• Managing safety & risk

Integrating Maximo asset management with IBM Watson IoT allows you to improve your performance outcomes while managing your full asset portfolio through a single solution.

Artificial Intelligence and Maximo – Are you listening to your machines?
Artificial Intelligence (AI), or cognitive computing as IBM calls it, augments human intelligence to monitor machines more accurately and generates preventive maintenance actions. Artificial intelligence, along with advanced analytics and robotics, is creating potential game changing possibilities for asset-intensive industries. IBM visionaries and EAM experts dub these changes as cognitive maintenance – the science of accessing data from connected devices, combined with prevailing service knowledge and other external data – all to interpret the machine/device language.

Watson’s analytics trigger cognitive maintenance data to syndicate Maximo’s core capabilities – real-time asset condition monitoring and reliability data – so reliability engineers and maintenance professionals can make informed and timely preventive maintenance actions.

Example:

Data from a fleet of machines could be fed into the Watson IoT platform, including the unique conditions of each asset and its usage are tracked. Cognitive computing uses advanced algorithms to learn from the asset’s historical usage and compares to the intended operational design and real-time usage data. This helps the system determine the unique ranges for each motor and the real-time data triggers actions that are unique to each motor.

If there is voltage difference between the three phases of power supply, then the system can capture the voltage unbalance, a repair technician is notified, through Maximo, to inspect the motor.  As a result, cognitive maintenance connects and correlates data to predict/forecast machine failures proactively.

Automated condition assessment within Maximo
Through MAHI, reliability engineers can automatically calculate asset conditions using measurements and observations recorded during their equipment assessments. After configuring a scoring system and creating condition drivers, engineers can track the overall asset health score to determine preventive actions. MAHI maintains historical readings in the Watson IoT historian for future reference.

IBM’s recent partnership with DAQRI Smart Helmets has opened doors to bring augmented reality (AR) to life. DAQRI’s built AR optimized human-machine interfaces for field workers safety. With this strategic integration of AR, IoT and EAM, a new era of asset management practices will be established.

Maximo Industry Specific Solutions
IBM offers a rich catalog of industry specific solutions within asset management. For example, Maximo offers: health, safety and environment manager; linear asset management; spatial asset management; calibration; asset management scheduler; and asset configuration manager solutions that target the mining, oil and gas, utilities, power, transportation, health care and aviation markets.

Scalability with Maximo:
Gartner’s Magic Quadrant from Nov-2017 ranks IBM Maximo asset management as a “Leader” in Enterprise asset management solutions. The report recognizes Maximo’s scalability strength and its huge global customer base.

IBM Maximo has extensive product offerings and technological capabilities to support EAM functionalities. With Maximo SaaS to address Cloud, Maximo Everywhere and Anywhere for Mobility, or integration with Watson to address IoT, Maximo is addressing the needs of the EAM market. With asset registry on block chain, Maximo offers a secure and transparent means to track all asset transactions through IoT devices across the business network.

As a leader in Asset Management software, IBM Maximo not only addresses the needs of most businesses today, but also accommodates future trends. With this forward-looking mindset, Maximo is proactively delivering innovative technologies and rich features to tackle the ever changing expectations of its users.

ValuD, an IBM Gold Partner, leverages its Maximo asset management expertise to implement, upgrade and support each stage of your Maximo life-cycle. Our Maximo experts have recently shared their insights on IBM Maximo Upgrade Best Practices series blog posts. Read more here.

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