Aspen Technology (AspenTech)

Software : Data & Analytics : Asset Performance Management

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Bedford, Massachusetts, United States

NASDAQ: AZPN

AspenTech is a leading provider of enterprise asset performance management, asset performance monitoring, and asset optimization solutions. AspenTech’s suite of asset management software helps organizations to streamline engineering and maintenance processes, leading to reduce downtime and increase operational efficiency. AspenTech has also been an industry leader in leveraging industrial AI, plant digitalization, and digital twin technology to ensure our customers keep pace with rapidly evolving manufacturing technologies. Predictive Analytics for industrial data helps AspenTech deliver downtime reduction for the connected enterprise.

Assembly Line

Improving asset criticality with better decision making at the plant level

Date:

Authors: Mike Brooks, Mike Strobel

Topics: Manufacturing Analytics, Simulation

Organizations: AspenTech, Cisco

The industry is beginning to see reliability, availability and maintainability (RAM) applications that integrally highlight the real constraints, including the other operational and mechanical limits. A RAM-based simulation application provides fault-tree analysis, based on actual material flows through a manufacturing process, with stage gates, inventory modeling, load sharing, standby/redundancy of equipment, operational phases, and duty cycles. In addition, a RAM application can simulate expectations of various random events such as weather, market dynamics, supply/distribution logistical events, and more. In one logistics example, a coker unit’s bottom pump was thought to be undersized and constraining the unit production. Changing the pump to a larger size did not fix the problem, because further investigation showed insufficient trucks on the train to carry the product away would not let the unit operate at full capacity.

Read more at Plant Engineering

Make Digital Twins an Integral Part of Your Sustainability Program

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Authors: Paige Marie Morse, Geeta Pherwani

Topics: Digital Twin, Sustainability

Vertical: Chemical

Organizations: AspenTech

Digital solutions provide the visibility, analysis and insight needed to address the challenges inherent in sustainability goals. A digital twin strategy as part of an overall digitalization plan can be a crucial capability for asset intensive industries such as refining and chemicals. A digital twin needs to encompass the entire asset lifecycle and value chain from design and operations through maintenance and strategic business planning.

Comprehensive sustainability solutions are stretching the capabilities of thermodynamic first principle-based digital twins and driving the need for the next generation of solutions. Reduced order hybrid models offer a critical capability to achieve digitalization, sustainability and business goals faster. Reduced-order models can abstract models to enterprise views which inform executive awareness and strategic decision-making. Site-wide models can run faster and more intuitively to drive agile decision-making and optimize assets to achieve safety, sustainability and profit.

Read more at Automation

How and Why Pharmaceutical Manufacturers Are Applying Artificial Intelligence

Date:

Author: David Greenfield

Topics: quality assurance, predictive maintenance

Vertical: Pharmaceutical

Organizations: AspenTech

“Opportunities to reduce manufacturing costs exist across all stages of the product lifecycle. Advanced analytics can reveal those opportunities, allowing pharma companies to take informed action to save money,” said Richard Porter, global director, pharmaceuticals, at AspenTech. “Whether using multivariate analytics to identify process degradation and its impact on quality or predicting final product quality to reduce lab testing lag times, these techniques offer pharmaceutical companies a competitive advantage.”

A purified water system at a pharmaceutical manufacturing facility.“The company tried to avoid batch losses—with each batch valued between $250,000-$300,000—as frequent shutdowns to replace the seals limited capacity,” said Porter. “As the company needed to ramp up capacity, it purchased two additional mills. Adopting Aspen Mtell, which connects to OPC UA supported devices, for predictive maintenance allowed the company to reduce supply chain disruptions from seal replacements and cut lifecycle maintenance costs by 60%. In addition, the company reduced capital expenditures and associated lifecycle maintenance costs by 50%.”

Read more at Automation World