One of the key promises of the Industrial Internet of Things (IIoT) is better management of factory assets. If a component is constantly collecting data about itself, it should be able to tell you if anything is wrong with it, and how to fix it. Of course, an asset should do this before it fails and causes costly downtime.
With this promise in mind, GE Digital recently announced a new IIoT solution that combines its Asset Performance Management (APM) portfolio with the Field Service Management (FSM) platform of ServiceMax, an FSM company acquired by GE late last year. The integrated APM and FSM solution aims to offer a predictive, rather than reactive, asset service model.
The APM portfolio includes solutions for monitoring asset health, predicting asset issues, ensuring asset compliance, and developing intelligent asset strategies. Providing a natural complement to APM, ServiceMax’s FSM offerings include mobile field service, service part management, scheduling and dispatch, and more.
From identifying equipment issues, to scheduling maintenance, to coordinating field work, and finally to resolving issues, the APM and FSM solution promises to be a closed loop of asset management. The integrated solution will be available in late 2017.
“The Industrial Internet is enabling companies to take advantage of possibilities that previously seemed out of reach,” said GE Digital CEO Bill Ruh. “But in many ways, we are still in the early stages of this transformation journey as companies seek to move from gaining insight to taking action and as automation gives way to autonomous systems.”
Ruh is right—the IIoT is still in its infancy, as many companies lack a true IIoT strategy. But considering its $600 billion market potential, the IIoT has the potential to grow up fast. For industries stuck in a reactive asset service model, now’s the time to rethink asset management.
For more IIoT news, read Janeiro Digital's Mission to Enable IIoT Transformation.