Asset performance management is the set of tools and processes used by manufacturers to drive continuous machine performance improvements. The key objectives of asset performance management include:
Overall equipment effectiveness (OEE) is one of primary KPIs that asset performance management can improve. OEE is comprised of three measures:
Most existing asset performance management practices leverage historical rather than real-time machine data, proprietary applications and take a reactionary approach, leading to several challenges:
A 10% improvement in OEE can boost bottom line performance by 22%.
25% Reduction in downtime from capturing OEE data with asset performance management.
MindSphere enables you to implement an effective asset performance management practice without the hassle or upfront cost of proprietary applications:
Savings on service maintenance.
Reduction in asset downtime
Increase in manufacturing output
