Today, many organisations in the industrial sector are facing the growing challenge of ageing assets and increasingly complex infrastructure. Whilst safety remains paramount, optimizing asset reliability has become just as crucial to stay competitive and to realize cost efficiencies. This has been the case for Shutdowns, Turnarounds & Outages (STOS), which typically incur significant expenditure for the operator.
Clearly, a need to address the estimation of costs and scheduled time for STOs, and the efficiency of planning and execution of them, still stands. This challenge certainly isn’t a new one but substantial gains are being made by organizations that have employed data analytics and digital technologies for asset maintenance and operations. By leveraging digital resources to manage complex challenges, many inherent risks of STO activities are being mitigated, avoiding negative impacts on facility profitability, safety performance and regulatory compliance. As such, more organizations are keen to reduce their capital expenditures and improve overall turnaround efficiency.