Improve the plan
To help you meet profitability objectives, Meridium APM Strategy balances equipment risk profiles, production goals and resource investment by focusing capital (CAPEX) and operating (OPEX) expenses, along with maintenance and inventory costs, on the most critical assets to reduce unplanned repairs and lost production.
Meridium APM Strategy drives proactive, risk-based, optimized asset management plans that are supported by technology to develop, manage, execute and evaluate these strategies - all with the goal of mitigating asset failure risks.
How It Works
Meridium Asset Strategy Management (ASM) manages asset strategies using a risk-based approach by providing a common methodology to define actions and mitigated risks for any asset. By evaluating existing plans with basic qualitative risk analysis that is both straightforward and easy to use, organizations can validate existing plans or consider strategy options to update and implement plans which are more effective in managing risk.
Meridium’s APM Strategy Implementation for EAM solution lets users easily combine multiple strategies into one package then implement in various EAM systems. Within the implementation package, common actions may be combined based on similar criteria, such as the performance interval, the type of resource required and the accessibility of the asset in the facility. The implementation package also can be defined so that it corresponds with the required data structures that are dictated by an external system for detailed planning and scheduling of tasks.
Meridium Failure Modes & Effects Analysis (FMEA) identifies failures and effects for equipment and then recommends actions to mitigate those failures. This solution facilitates the identification and mitigation of the most critical failure modes defined at the equipment level, creates recommendations and enables you to promote to strategies into Asset Strategy Management.