Collaboration to improve asset performance

Maintenance related issues like unplanned downtime, product losses and energy inefficiency cost major industrial companies at least $864b annually, or $532,000 each hour. Simultaneously, 63% of maintenance efforts are unnecessary and could be avoided. With the typical asset lifespan in heavy industries being 30 to 40 years, and an increasing focus on ESG, there is an increasing pressure to improve asset management strategies. These play a foundational role in companies to embrace digitalising asset management and improving Overall Equipment Effectiveness (OEE) and reducing Total Cost of Ownership (TCO).

Leveraging MaxGrip’s Asset Improvement Program (AIP), Schneider Electric will further support customers in their digital transformation journey by providing a comprehensive asset lifecycle management program. The program aims to break down internal silos, offering detailed analysis of asset reliability and performance improvement opportunities and identifying conditions for the successful adoption of (new) technologies at the customer and accelerating deployment through extensive asset libraries and hands-on experience.

“This partnership represents another important milestone in our mission to drive digital transformation across all industrial sectors,” said Anthony Loy, vice president, industrial digital transformation consulting, Schneider Electric. “By combining Schneider Electric digital transformation consulting services with MaxGrip’s renowned APM expertise, we’re ideally positioned globally, to provide greater and more specialized value to our clients.”

“We are excited to build on our long-lasting relationship with Schneider Electric to help address one of most the complex challenges faced by industries today, said Mark Mulder, CEO at MaxGrip. “Together, we will deliver innovative solutions that ensure lasting asset performance improvements, demonstrated with operational success.”

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