Meridium is now part of GE Digital! Please visit GE.com to learn more about GE Digital APM.
What we do

Asset-intensive companies demand predictable production at the lowest sustainable cost, starting with a clear picture of an enterprise’s overall asset health.   Using intelligent asset strategies, Meridium’s Asset Performance Management (APM) software and solutions can help your organization reduce operating risk and improve reliability by predicting and preventing asset failures. 

> Our Software

Clients
NOVA Chemicals Reduces Unplanned Downtime, Maintenance Costs and Increases Employee Productivity

NOVA Chemicals operates seven manufacturing sites in North America, producing plastics and chemicals that are essential for everyday life. NOVA employees develop and manufacture materials for customers worldwide that produce consumer, industrial, and packaging products.

Challenges & Issues

In 2001, NOVA Chemicals identified the need for improvement of the operating reliability of their equipment assets and established a World Class Reliability program. The program resulted in significant improvements within the areas of reliability and maintenance, but was unable to fully leverage the valuable data gained from these improvement efforts.

Following a Meridium APM evaluation, NOVA Chemicals identified significant value-added opportunities in moving to an asset performance management approach.

Solution

The company identified Meridium as a key enabler for accelerating and improving the company’s asset strategy management process through:

  • Integration advantages
  • Automation of low-value work
  • Work process enablement
  • Elimination of unnecessary silos of data
  • Flexible measures of effectiveness

Results

Reported business results 12 months following Meridium implementation (completed on time and under budget) include:

  • Four implemented projects where benefits have exceeded the full investment in Meridium
  • A reliability-centered maintenance analysis where benefits are expected to exceed the full investment every year for the next 10 years
  • Even further anticipated improvements within the benefit areas of unplanned downtime, maintenance costs, and employee productivity with potential additional gains in reducing turnaround scope and capital costs

Nova Chemicals credits these benefits to Meridium’s ability to:

  • Improve the use of SAP data and show value for data collection and work processes
  • Improve productivity and effectiveness through its ability to shift company focus from gathering data to analysis of data
  • Provide ongoing statistical analysis to gauge the effectiveness of maintenance strategies/PM frequencies employed
  • Identify bad actors on an ongoing basis
  • Provide the addition of KPI’s (leading indicators) and automation of others
  • Improve equipment performance monitoring through combining of operating/condition circumstances
  • Improve quality of workforce through ability to share the same tool, process, and knowledge
  • Provide structure for managing all reliability improvement projects to ensure benefit capture