Jason Apps, CEOMany industry leaders harbor a common misconception that enterprise asset management (EAM) solutions alone can deliver reliable asset management. “Contrary to this thought, it is the quality of the data used by the EAM that is crucial to asset performance,” begins the CEO of ARMS Reliability, Jason Apps. With industries across the world giving paramount importance to the development of efficient systems, robust data-driven technology is needed to develop new asset strategies and also implement them. Recognizing the growing challenges in asset management, ARMS Reliability leveraged their 20 years of accumulated experience in the field to transition from a consulting firm to a pioneer of asset strategy management solutions.
Asset strategy management is a game-changing solution that ARMS Reliability brings to the table. Unlike most other companies in this field, ARMS Reliability does not just provide EAM solutions. They develop data-driven strategies that can boost the performance of industrial equipment and ensure that these strategies are implemented in a robust and consistent manner. Further, the company ensures that these strategies can continuously evolve by using a comprehensive review and approval system to authorize all modifications. Initially, the company supported the decision-making process for their clients using model simulations and data analytics. However, observing that it is becoming increasingly difficult to implement and sustain new strategies, ARMS has developed a proprietary enterprise-level technical solution, OnePM®, to effectively manage the implementation of asset strategies across any industry.
OnePM® is built-in with multiple functionalities that redefine the scope of asset management. The software is capable of consolidating disparate and unstructured data sets. For example, within a plant, there may be quite a few similar pumps. Instead of developing a strategy for each individual pump, a generic strategy template is developed to manage performance for all of them. Though each pump is governed by a centralized strategy, localized changes can be implemented based on specific operational conditions. This interconnectivity ensures that any changes in the strategy template can be swiftly adapted at the individual equipment level. Another capability that differentiates OnePM® from other solutions is the integrated financial optimization capability.
The real value of this software, however, is its ability to support the continuous development of strategies to deliver a step change in asset performance
The balance of cost, risk and performance is analyzed for a new implementation to help clients make key strategic decisions. The real value of this software, however, is its ability to support the continuous development of strategies. It creates a workflow that ensures modifications of assets are executed based on a review and approval system, allowing best practice developed at the individual asset level to be pushed across the entire asset base.
“Industries across different verticals face many similar challenges when it comes to asset management,” explains Apps. For example, two typical ARMS’ clients, an oil and gas and a mining company, had the same strategy development workflow. These companies did not have a team or process to continuously develop and monitor asset management strategies; rather they would form ad-hoc project teams that were responsible only till the point of implementation in the EAM. Leveraging ARMS’ technology, these companies can now continuously monitor each strategy and identify areas of improvement in a real-time manner. By implementing the most optimum strategy and maintaining the balance between risk, cost, and performance, clients benefit from substantial returns on their investment through an improvement on the bottom line.
While most other players in the market either provide technical solutions, consulting services, or staff support and education, ARMS one of the only organizations that is unique by offering all three facets of asset management delivery. They are at the helm of technological innovation and are developing tools to automate strategy improvement. With their utmost dedication toward developing data-driven strategies and focus on sustaining them, ARMS is redefining the meaning of reliability in the asset management space.