Meridium, APT team on asset strategy development

Deal combines equipment failure mode database with asset management strategy software.

Meridium Inc. and Asset Performance Technologies (APT) are teaming on what is claimed to be the world’s largest ‘asset strategy library’ for industrial equipment. The deal sees the integration of APT’s library of industry best practices with Meridium’s Asset Performance Management solutions.

APT’s database includes failure modes and preventative maintenance plans for more than 200 equipment classifications. The library covers over 13,000 failure modes and 1,400 preventative maintenance activities which have been developed and refined by panels of experts from plant and equipment vendors.

APT CEO David Worledge explained, ‘Traditional preventative maintenance improvement starts with a blank sheet of paper. This is not practical for large scale deployment in real production environments which is why we created the Asset Strategy Library. Now, maintenance and reliability engineers can start with an expert-recommended strategy and a sound technical basis.’

Customers use the library to tune operations, manage risk and costs. The resulting strategy can be transferred to corporate EAM or CMMS systems, such as SAP, via Meridium’s Asset Strategy Implementation (ASI) module. Meridium’s customers include Chevron, Marathon Oil and Xcel Energy. APT content is currently in use in power generation, oil and gas, and other major industries.

Click here to comment on this article

Click here to view this article in context on a desktop

© Oil IT Journal - all rights reserved.