IBM’s AI-powered enterprise asset management platform to help improve energy productivity and operational efficiency.
The Electricity Generating Authority of Thailand (EGAT), Thailand’s largest power producer under the Ministry of Energy has selected IBM’s AI-powered enterprise asset management solutions to help manage the assets of its electric power plants.
IBM’s AI-powered Maximo Enterprise Asset Management, delivered by Triple Dot Consulting Co., Ltd., an IBM business partner, has helped EGAT unify its asset management processes from maintenance, inventory management, parts purchase, and supplier management, said Nophol Phun-Ngun director of Power Plant Asset Management Division at EGAT.
“Breakdowns, ill-timed maintenance and stoppages due to quality issues can hugely disrupt the electric power and energy resources of the country, impacting communities and tens of millions of citizens and businesses,” Phun-Ngun said. “Owning and operating power plants across Thailand, EGAT’s mission is to ensure that the power system works reliably and securely for the nation.”
The single-view, cross-enterprise reporting capabilities now allow EGAT to identify items that have a significant impact on overall inventory cost, analyse different categories of stock that will require varied management and controls, while also decreasing their inventory carrying costs by a reported 30 per cent over 15 months.
Optimising asset management and maintenance processes can help EGAT not only improve operational performance by reducing cost and complexity associated with redundant asset management infrastructure and manual processes, but after a year of use, they also reported a lower need for new equipment purchase by three to five per cent. They have also reported improved availability and longevity of strategic assets by five per cent over a period of three years. In addition, being able to integrate the system with their procurement management platform allows EGAT to enhance operational speed and agility.
AI-powered data models and workflows, together with cross-business sharing of resources, workforce knowledge and industry expertise is driving EGAT’s adoption of common best practices organisation-wide, allowing engineers and asset owners to gain a deeper understanding of physical condition of their assets.
For example, EGAT can now leverage AI to monitor relevant maintenance related data to help improve decision making, automatically classify the movement type of each inventory item, and proactively manage and prioritize infrastructure repair. EGAT is now able to monitor and manage status proactively anywhere, anytime, with report results being shared in near-real time on authorized connected mobile devices.
EGAT’s digital vision is to be a digitally driven organisation by 2024. The EGAT Digital Strategy 2019-2026 includes:
- Strategy 1 Electricity Innovation: Focus on digital technology to create innovation for stability of the electrical system, improving and increasing the efficiency of EGAT’s core businesses.
- Strategy 2 Growth for Sustainability: Create future by digital technology to support the development or investment in related businesses and new business opportunities.
- Strategy 3 Administration Excellence: Change the organization to have high performance and keep up with change by using digital technology to support the operations.
- Strategy 4 Trust and Pride of Nation: Focus on the operation is transparent and accepted by society. Digital technology help stakeholders accept and live together.
- Strategy 5 Establish Digital Foundation: Develop digital infrastructure and cultivate a true digital culture throughout the organisation. Promote all these ICT enablers to drive corporate strategies and businesses.