Meridium Inc., a leader in asset performance management (APM) software and consulting solutions, on February 27 announced an agreement with The Dow Chemical Company, one of the largest chemical manufacturers in the world, operating in 156 countries with more than 45,000 employees around the globe.
In the coming months, Meridium will provide software and services to implement its APM solution at Dow Chemical across the enterprise, allowing Dow to improve its equipment availability and overall reliability and reduce maintenance and operating costs, providing continuous improvement of asset performance and predictable production delivery.
"After completing a comprehensive evaluation, Dow chose Meridium because of two key drivers: their alignment with our reliability-improvement work process and established integration with SAP. Additionally, their solution includes a strong suite of analysis tools to evaluate asset and system reliability performance in order to identify and quantify reliability improvement opportunities," said Kevin Bauman, Dow Chemical, MaintenanceNEXT partner project manager. "In the competitive chemicals industry, asset performance is critical to our continued success in the marketplace. As part of our MaintenanceNext project, our pursuit to drive improvements in asset performance encourages us to seek opportunities that leverage new tools to further enable our efforts."
As part of Dow Chemical's "Maintenance Next" initiative, Meridium will centralize data to provide easy access across the enterprise for reporting and decision making and provide tools and methodologies for data analysis and decision support. The Meridium solution will allow users to capture data to be easily analyzed to drive business decisions based on facts. Dow is pursuing this integrated maintenance and reliability management system in order to position the company to achieve improvements in reliability, as well as productivity.
Dow Chemical will use the following Meridium solutions:
- Scorecards and KPIs (Metrics)
- Statistical Analysis
- Modeling and Simulation
- Inspection Management
- Thickness Monitoring
- Risk-Based Inspection (Mechanical Integrity)
- Reliability-Centered Maintenance
- Failure Modes and Effects Analysis
- Spare Parts Optimization
According to Bonz Hart, Meridium founder and CEO, "We're pleased to be working with an industry leader such as Dow Chemical that puts a high priority on operational excellence. Dow recognizes that reliability, availability and safety initiatives must align with business objectives and be supported by effective technology in order to be successful and profitable."
