IIOT & Integrated Best Practices
With the advent of “improved equipment sensor & wireless communications technology”, we have tapped into this world of smart technological advances – “Industrial Internet of Things – (IIOT)”, to create that silver-bullet that can now guarantee the assurance for sustainable delivery of improved productivity results. In fact, clients have experienced upwards of 10 – 15% savings in energy and some are now using this platform to tee-up significant potential to drive reductions in operations and maintenance costs. We can quickly mobilize to pilot a low-to-no cost demonstration of your energy savings potential and build an overall business case for longer term delivery of execution excellence.
We refer to this development as Proactive Sustainable Profitability – (PSP) and it builds upon an on-going framework for reducing Operations, Maintenance & Technology (OMT) costs, driving smarter decision-making while also providing a leadership monitoring system to drive sustainable profitability and minimize overall business risks. It is cost effective, easy to implement and you will start seeing ROI results within months.
Many companies are locked into the vicious financial growth profile as shown below and are leaving upwards over “30% hidden potential” on the table due to in-effective decisions that negatively impact profitability ratios like ROA%, ROIC%, and ROE%. This represents millions of dollars available to deliver significant company shareholder value. Are you among those that are ready reverse those decision-making process and extract these potential gains from your existing asset base?
Data Source: Michael Roberts
In this article, Profit-Ability LLC – (PALLC), will discuss an innovative new era for providing a renewed focus for growing on-going sustainable profitability and delivering more significant profits thru IIOT – Smart Technologies & Integrated Best Practices for driving Operational & Reliability Excellence.
PALLC drives a strong advanced reliability analytic focus to implement a sustainable approach for companies to address their “hidden profitability potential”. We also gauge your baseline and on-going progress like the following case example:
Our view for executing continuous improvement is consistent with the views of Dr. Chakravorty at Kennesaw State University in Kennesaw, Georgia. We have utilized one of his concepts to frame the dialog for this article.
So, let’ start the discussion. What do diets, weight-loss plans and process-improvement programs such as Six Sigma – “DMAIC”, TQM and RCM have in common? They typically start off well, generating excitement and great progress, but all too often fall short of the success of having a lasting impact.
Many lack leadership follow-up, motivation and gradually fall back into old habits as shown on the right. Over time, at about week 12, improvement projects begin to decline and failed vs. original objective. Many companies have reported that less than 1 in 5 has come away less than happy and these programs are left with a “black-eye”.
So why do so many of these initiatives fall short of delivering sustainable results when the base methodology or principles are totally sound, valid and valuable? It is our observation for Six Sigma, in the “C-Control Phase” for “DMAIC” projects, they focused to leave a control plan place but lacked the ability to integrate into an overall leadership monitoring process for assuring delivery of proactive sustainable improvements over-time. In our opinion, this is the opportunity for the new era of integrating (PSP) into your culture.
Over the years, PALLC has listened to top leadership executives, collaborated with industry experts and have applied those learnings to develop this unique & revolutionary offering. It builds on proven strategies & methods already in-practice for Process Safety and Asset Health, Energy & Risk Management.
PALLC patented approach, QMAX$®, deploys the perfect blend of Theory of Constraints, Six Sigma, Reliability Analytics and Lean Thinking to develop that perfect blend for continuous improvement and delivering sustainable results. Along with our collaborative partners, we can now offer many industry sectors this unique and robust solution that now affords companies a proactive way to stay on top of sustaining improvements. In fact, our entire delivery process follows the strict project methodology of Six Sigma and Capital Project Best Practices for effective prioritization and cost containment.
PALLC has launched this “new era” that utilizes big data through predictive risk analytics and software solutions that can be harnessed to improve process safety and reliability for continuous and batch operations. This covers operations such as refining, petrochemical, power, energy, mining, food & beverage, transportation, healthcare and manufacturing. We have concluded that utilizing the identified key improvement variables that drives sustained profitability should be harvested and integrated into a proactive performance monitoring system that includes ALL improvement project control plans at the touch of a button for any company.
This approach is like the concept of monitoring process hidden near-misses, which can only be identified through thorough analysis of real-time total process and alarm data down to the equipment level. Our dynamic approach can now arm companies with a proactive way to reduce overall variability and increase reliability at the source and hard-wire the delivery superior results in:
• improving safety performance
• reducing energy costs
• increasing operational discipline
• lowering equipment maintenance costs
• lasting process reliability & profitability gains
Our unique analytical suite of software tools, best practices and training includes a focused ability to gauge on-going overall execution excellence performance.
Our unique software is capable to gather “Voice of Customer”analyzing your data in a way that will present a clearer picture of your asset health and risks so that your teams will be able to understand the “Voice of Process”and execute steps to proactively improve your overall performance.
We can handle your big data and uncover budding or latent problems hidden in your process data. We have also incorporated a unique “Data Collection System” that will make easy access and retrieval of process and equipment failure data. The ‘good projects’ that may have been missed in the past will now become obvious.
Along the way, we will work side-by-side with the customer to execute a focused way to develop an effective improvement roadmap. We will facilitate harvesting customer value via our 5-Pillared framework to facilitate dependability in managing overall excellence in operational execution & discipline to drive focused improvement solutions to achieve the desired bottom-line profits.
We accomplish this value creation thru our network of seasoned and knowledgeable resources. Our prescribed structure will apply relentless execution of governance like capital project best practices across the components of the following 5 Pillars to achieve sustainable productivity and excellence for our customers.
Finally, once these critical process issues have been identified and the risks understood, we work with your leadership to customize and execute your integrated system and dashboard to ensure these issues are addressed, remedied, and sustained. Often, near-misses or potential upsets are identified, adding deeper level of urgency to making sure these projects are delivering the on-going profitability and results.
PALLC has clearly set our mission to pioneer an integrated technique that drives effective monitoring of holistic increase in process reliability and provide many business sectors with a dependable way to manage risks associated with sustainable continuous improvement. We have advanced our passion by integrating recently advanced smart technologies, together with key best practices and analytical tools to drive assurance that improvement gains are EXECUTED and being sustained across your entire business enterprise.
Driving focused execution is our competitive advantage to deliver your enterprise business case & roadmap for sustainable profitability. In the following example, we have determined this company can deliver $6.8 Million per each 1% increase in execution excellence. We are ready to deliver your results starting with our complementary diagnostics for Energy Optimization and Asset Health & Risk Management.