Top 3 asset management capabilities for chemicals 

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The chemical industry continues to increase its use of analytics and digital data to meet more stringent regulations and evolving market conditions. Optimizing asset performance, uptime and productivity are essential to maximizing profits and competitive position. When evaluating their current and future asset management technology needs, chemical companies should look for the following capabilities as a starting point to make sure their enterprise asset management (EAM) platform is best positioned to meet their needs: Top 3 asset management capabilities for chemicals Checklist 1. Efficiently meet compliance and safety standards Identify potential issues well before they create shutdowns and downtime Assign risk-mitigation protocols to specific pieces of equipment Compare how an asset might perform under different scenarios to maximize output and extend the life of aging assets Move from a reactive approach to a predictive maintenance strategy, including anticipating when assets will fail and automatically directing remediation processes Accurately and consistently report on carbon dioxide emissions, water usage, wastewater pollution, energy consumption and other concerns Help increase uptime and overall equipment effectiveness (OEE) to maintain safety and regulatory requirements and support steady and incremental progress in sustainability 2. Leverage a cloud-based solution Have an audit-grade solution that is easy to use, right out of the box Provide robust and usable data on sales, costs, maintenance and inventories, including purchase orders, parts catalogs, repair history, health, lifecycle costs, work orders and safety measures Holistically monitor fleet operations, workshop workflows, operational optimization and customer delivery satisfaction Create the flexibility to support existing business systems and integrate with existing processes, including an ERP strategy, if already in use Secure operations by removing duplicative or disparate systems Track changes related to processes, assets, and equipment and get signed customer approval on maintenance changes or part replacements if required Inform maintenance solutions that reduce unnecessary energy consumption and increase efficiency across all assets, now and in the future

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