A typical industry or building today has an assortment of assets- motors, fans, chillers, production conveyors, etc- each a whole different world in itself. Running such an enterprise seems like art- a juggling act of balancing the needs of one with the other.
For large enterprises, maintenance costs can account for almost 40% or more of the annual operational budget. Improving the effectiveness of asset management activities and reducing the resources required can have a significant impact on both – the top line and the bottom line of the enterprise.
Maintenance costs can account for almost 40% or more of the annual operational budget.
Taking a plunge into Industry 4.0
The world’s largest bearing manufacturer, with 103 manufacturing units in 130 countries, was facing a similar challenge. With over 100 years of producing best-in-class bearings, seals, and lubrication systems, the global enterprise clocks over 7 Billion USD in revenue annually.
It all started in 2015 when they started facing several services- and software-related issues with their existing energy management system. Fragmented and incomplete data often led to incorrect priority orders for resource allocation and task implementation. At the same time, they were bleeding resources in maintenance activities- money and workforce that could instead be redirected to increase production and profits.
Now was the time, they decided, to take a plunge into Industry 4.0.
But it was not going to be easy..
As the manufacturing units had developed over time, there were large inconsistencies. Different models of energy meters with Modbus protocol were spread across the plant. Critical equipment such as chillers had BACnet ports, but no register maps. Motors had negligible sensing capabilities installed. Production machines were connected to PLC – with the only way to extract data being via Profibus. Bringing all this data to one central dashboard was going to be a Herculean task.
Small steps, big returns.
After surveying many alternatives, they decided to employ SmartSense. Covering all major assets (motors, transformers, chillers, etc), SmartSense boasted of an asset algorithm library that was built over years and tried-and-tested by multiple big names in the industry. It was vendor-agnostic and compatible with all major communication protocols.
They used SmartSense to study electrical signatures of assets in place- Monitoring critical feeders and using customizable dashboards to track consumption across production units. Within a year, just by automating energy monitoring, reporting, and analysis, the enterprise saw cost savings of more than 30,000 USD annually in their plant.
Re-imagining Asset management
Having seen the power of the SmartSense platform first-hand, they gradually started bringing their critical assets under its coverage. Using advanced algorithms, the platform would create a Digital Twin of every asset. Then, analyzing its electrical signatures and other parameters, SmartSense would monitor these assets in real-time. Customized dashboards helped to centralize management with advanced widgets and reporting features.
(Want to check out the SmartSense platform? Let us know.)
This was liberating. It was almost as if the machines could speak for themselves!
With even the smallest deviations in performance, the concerned person would get an alert- where is the anomaly, what it might lead to, and how to fix it!
The manufacturer could now move from a resource-intensive maintenance routine to AI-powered Predictive Maintenance. It allowed for judicious resource allocation, correct priority setting, and a targeted approach to their management activities.
It was almost as if the machines could speak for themselves!
Today, the enterprise uses SmartSense at 3 locations to manage 20 critical assets and more than 150 electrical points. SmartSense’s strong analytics capabilities coupled with its deep-domain expertise are helping them get great results.
SmartSense is not just another service or software to this enterprise. We have been working with them every step of the way to draw out a digital transformation roadmap for all their production units across India. Today, technology is not just an enabler but an imperative for building sustainable enterprises. (Read More)
Not just them, other global enterprises like Godrej, Sun Pharma, Intas, and Fiat are using SmartSense to get that competitive advantage and always stay at the top of their game.
When are you taking the plunge? Talk to our experts and chart your Asset Intelligence journey today!