Efficient Plant October 2017 - 12
feature | reliability & profitability
speed of industrial business makes it critical to
maximize and control
safely, in real time.
THE ULTIMATE OBJECTIVE of any industrial enterprise is to maximize and control operational
profitability, safely, in real time. This is even more critical in today's manufacturing environment because
of the ever-increasing speed of industrial business. For example, only a decade ago, many industrial plants
had contracts with their electricity suppliers that designated the price they paid for a unit of electricity for an
entire year. Today, on the open U.S. power grid, the price of electricity can change every 15 minutes.
Managing the business of industrial operations with monthly data from ERP reports is no longer
feasible. You need to control operational profitability, in real time. Accomplishing that requires
controlling and measuring the reliability of plant assets and asset sets, down to the equipment
Manufacturers have relied on various process-control methods and applications