Can We Cut Down Enterprise Energy Expenses?

By forming a cohesive link between software technology and energy management, managers obtain a valuable tool to reduce costs and monitor the company's energy expenses.

Most employees use the company's resources without a second thought if it is important. All flip of the switch is taken lightly without considering the complex energy grid and the organogram of the network behind it. Nevertheless, plant maintenance teams, assets, utilities, and facility managers are aware of the enormous costs that accompany energy.

But, the vital role it enacts in the smooth functioning of industrial plants and commercial facilities is also recognized. With energy costs escalating, energy consumption has turned the key focus. The software technology sector has been helping in determining a solution for the issue. To give managers a valuable tool to monitor energy usage and curb significant expenses.

Modern Enterprise Asset Management (EAM) solutions optimize quality insights from energy monitoring in organizations. With applications in global asset durability and overall equipment effectiveness, the answers can leverage data insights, make well-informed decisions, and plan proactive maintenance of the assets to extend the lifecycle of the valuable equipment.

A smart building or a facility functions highly through a digitalized network of solutions and equipment. These are intended to monitor, control, and manage the mechanical, electrical, lighting, and several other systems in the building. So, yes, the goal is to achieve an enhanced efficiency but not at the cost of sacrificing comfort or convenience.

There are numerous options in EAM for the industrial and commercial buildings to incorporate, varying from HVAC and piping to security, physical and electrical infrastructure. Assets involve overhead doors and elevators to complex machines and industrial equipment.

Combining these systems into a centralized viewpoint achieves real-time visibility into status and condition and helps stakeholders make well-informed decisions. In addition, it showcases the interdependent processes that influence each other.

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Reducing Energy Waste with Global Asset Sustainability:

By sectioning the waste areas into four parts, major companies can now focus on curbing all excess and reviewing their asset performance. This method is called Global Asset Sustainability (GAS). GAS can be employed to enable visibility and control over the organization's requisites to eliminate improper energy practices.

The elements that form the foundation of GAS are:

• Availability is a major asset for serving the organization as intended. Increasing uptime is the primordial goal for maintenance, facilities, and asset management. If production and facility assets are inaccessible, the company is hobbled in its capacity to produce revenue and effectively help tenants, patients, and constituents.

• Performance is a quality that considers the characteristics and working of equipment or the operation speed of the equipment when compared to the same theoretical specifications for the same operation. During the allocation of capital investments, decisions rest on the performance ratings. To satisfy financial goals in cost and revenue terms, both assets must achieve their best, most likely suitable to that rating.

• Quality of output following the impact of the operations has a serial connection to the organization's margin and the potential to execute its mission. Irrespective of whether it possesses a retail store holding optimal conditions for driving consumer buying. By keeping humidity at a precise level where machinery and people can cohesively work, or by guaranteeing consistency in production equipment to put out the product at or above the normal specification.

• Energy consumption has transformed into an integral asset performance component and is increasingly expensive. However, the asset's energy consumption may overhaul with time, based on operation and maintenance conditions, which may cut costs.

Judging an Asset's Performance with its' Sustainability Index:

An EAM-based facilities management system watches the consumption of energy. It assists an organization in analyzing a holistic picture of an asset's performance, efficiency, value, operational impact, and Return on Investment (ROI). For example, a company functioning across 50 plants may be equipped with a usual outdated facilities management system that malfunctions are offering bad quality results. However, any legacy solution may depict the HVAC system operating within acceptable limits.

Correctly speaking, the chiller or the cooler used in the facility consumes excess energy than expected. Because the equipment runs with an unbalanced output for numerous after-hours and during the entire weekend, even though the demands barely exist. The misuse of the equipment added with extra stress could decrease the life expectancy of the machinery, pushing it over the border of a breakdown.

Steps such as making automated adjustments in the temperature levels, bringing the additional units to work only when required, and monitoring performance costs, including energy consumption, will provide a genuinely multi-dimensional idea. With enhanced operations, opportunities for achieving savings will transform into a task conducted with ease.

Actionable Advice:

When enterprises create smart decisions about assets and management of facilities, energy costs are reduced and assist in providing more profit. Trusting an EAM-based facilities management system will highlight the holistic view of the facility infrastructure. Still, it will also offer real insights necessary for the stakeholders to know.

After gaining the upper hand, the AEM system can play a critical role as assets are purchased, commissioned, operated, maintained, and even retired. The investments in the latest software solutions should be considered and carried out now to leverage the most gains. An EAM-based facilities management system can help align the asset infrastructure with the needs of businesses and financial bottom lines.