Siemens and IBM Deliver Service Lifecycle Management Solution
Expanding on their long-term partnership, Siemens and IBM announced the availability of a new solution designed to optimize the Service Lifecycle Management (SLM) of assets. It establishes an end-to-end digital thread between equipment manufacturers and the owner/operators of that equipment by leveraging elements of the Xcelerator portfolio from Siemens Digital Industries Software and IBM Maximo.
“The combined capabilities of IBM and Siemens can help companies create and manage a closed-loop, end-to-end digital twin that breaks down traditional silos to service innovation and revenue generation,” said Peter Bilello, President & CEO of industry research and consulting firm CIMdata. “Only by closing the loop between product design and development decisions, accurate product configurations and service operations, can companies hope to run a profitable and effective product-as-a-service business model.”
OEMs and owner/operators can struggle to improve the performance and reliability of an asset over its operating lifecycle, due to inefficient data sharing between engineering, operations, and maintenance processes. This joint solution from Siemens and IBM creates a single source of information designed to help OEMs and equipment owner/operators improve many aspects about how they design, maintain, and service their assets. In addition, the solution enables OEMs to now provide valuable after-market services to their clients.
The integration of asset management and product lifecycle management (PLM) technology can help owner/operators to stay up to date. The solution also enables OEMs to receive critical data about asset performance, maintenance and failures in the field. Leveraging IoT technology, manufacturers can gain insights on wear and tear, operating conditions, parts failures, and other patterns that lead to design or manufacturing updates. This data can be used to help manufacturers lower maintenance costs, reduce risks, and improve asset resiliency.