Industrial Internet Consortium (IIC) approves Infosys Asset Efficiency Testbed
Over the last few decades, equipment and systems have become intelligent. They generate data, which if monitored and managed well, can help engineers predict system failures accurately and prevent these failures beforehand.
However, high-tech manufacturing companies have been challenged with the major problem of downtime of critical assets that has resulted in losses amounting to millions of dollars. According to a study on maturity of asset efficiency that was conducted by Infosys and the Institute for Industrial Management (FIR) at Aachen University, 85 percent of global manufacturing companies are aware of asset efficiency but only 15 percent have managed to implement it. Current challenges include lack of instrumentation of the assets, missing real- time data analytics, lack of context due to missing information from other systems, lack of a holistic focus with other aspects of efficiency like energy, utilization, operations, and serviceability.
Effective management of assets would help overcome this scenario, which can be achieved through asset efficiency.
Asset Efficiency solution analyzes real-time and historical data across key health parameters and predicts the serviceable life of assets in order to decrease downtime and increase the asset utilization. The main goal is to collect asset information more efficiently and accurately, in real-time, and also enable usage of analytics to help companies make the right decisions.
The solution brings in a holistic approach to monitor, control, and optimize the assets across all tenants of efficiencies that includes operational, energy, maintenance, information, and service.
Some of the key features of asset efficiency include:
- Condition monitoring: Measure and track key health parameters of assets
- Diagnostic analysis: Use analytics engine to analyze data, compare with past data, and identify any present anomalies
- Prognostics: Predict the remaining useful life of assets
The reference architecture of this testbed is built on Infosys Information Platform (IIP) leveraging the IoT ecosystem partners providing sensors, application enablement, device management capability, and edge devices. This architecture is approved by IIC that makes it secure with respect to security, reliability, scalability, and interoperability perspective.