Common safety and how to increase profitability
Automation systems control physical assets that transform energy and raw materials into finished products, and all being well, the finished product is sold at profit (which in simple terms is the difference between that product’s selling price and the cost of the energy and raw materials used to make it). It is also important to keep in mind production assets are significant capital investments. If you’re in business, you’ll know all about maximizing your Return On Capital Employed (ROCE). For production assets, this generally means making as much product as possible while keeping the plant running reliably and safely. To maximize asset productivity while optimizing (not necessarily reducing to a minimum) energy and raw material costs requires access to data from multiple points in the plant’s various systems. This data can then be analyzed and used to make adjustments to processes in real time. As we know, the performance of new electronic components continues to advance at a...