Asset Performance Management vs Asset Integrity Management: What’s the Difference? (Part 2)
In our first article of this series, we examined the differences between the terms Asset Performance Management (APM) and Asset Integrity Management (AIM). That article took a quick look at the differences between the two terms at a high level. Today, we are taking a deeper look into the components of the two terms and how they complement each other for ultimate profitability, both for owner operators and for shareholders.
Leverage the Industrial Internet of Things (IIoT) for Improved Profitability and Integrity Management
Owner operators of asset-intensive corporations are starting to realize the operational and profit potential of harnessing new technologies, namely the Industrial Internet of Things (IIoT). IIoT refers to the phenomenon of utilizing technology to connect a series of physical assets to measure and/or enhance industrial processes. Essentially, it equates to digitalization. In the world of asset integrity management (AIM), this means intelligent analytics to modernize the plant to an asset-control environment. Adopting IIoT helps owner operators to automate, improve and transform their processes for increased profitability, enhanced safety, and reduced loss of containment.