Optimize industrial asset investments and control risk
How a manufacturer built an optimal OPEX/CAPEX asset investment plan to replace and renew obsolete equipment.
annual capital investment reduction
Rationalize maintenance expenditures
Our client is an international car manufacturer who needs to manage the obsolescence of different industrial assets on his production lines. Most of these components are getting obsolete, which leads to downtime, high maintenance costs and revenue losses. The scarcity and increasing price of spare components and the loss of expertise of the maintenance teams on aging assets are also a major concern.
He sought to find a tool that could determine an optimal maintenance and renewal planning, which included its impact on production, for different time scales.
Simulate equipment renewals and associated capital expenditure to evaluate investment scenario outcomes
Simulate maintenance activities with required resources to bring OPEX in the financial balance
Forecast asset condition to represent effect of time and load
Our client deployed Cosmo Tech Asset, our Simulation Digital Twin software solution dedicated to Asset Management. The solution is designed to:
test different strategic scenarios and evaluate their impacts on different KPIs (production loss, investment costs…)
forecast costs and budget
Cosmo Tech Asset takes into account real-world operational constraints such as the competence level of maintenance teams, spare part price evolution, uncertainty of aging law…and many more. Our simulation software enabled our client to compare different maintenance and renewal strategies in terms of CAPEX level.
The Cosmo Tech Asset solution enabled us to define the weight of each decision variable in our renewal strategy: the law of reliability, the skill level of the teams and the price of spare parts
Using Cosmo Tech Asset, our client found the optimal and robust investment plan to renew his industrial assets according to the generation, installation date and spare parts available in his various plants, for the next 5 years.
As a result, some of the initial renewal campaigns were postponed, others were prioritized all the while minimizing the risk of failure. Our client was able to reduce the costs planned in the initial investment plan.
Cosmo Tech Asset, our Simulation Digital Twin solution for Asset Obsolescence Management, is designed for enterprises looking to transform the way they manage their industrial assets obsolescence.
In a new video for Cosmo Tech, Renault’s Expert Leader Industrial System 4.0 Jean Goutierre explains how Cosmo Tech’s Simulation Digital Twin brought a new approach to asset obsolescence management and maintenance and reduced capital costs over 5 years from €10 million per year down to 2 and 5 million euros per year.
Achieve Production Planning Excellence
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