Industrial companies worldwide face mounting pressure to maximize asset reliability while controlling costs. Unfortunately, many of today’s operations teams are discovering that traditional maintenance approaches often fall short, leading to costly downtime and inefficiencies. Let’s consider these two common scenarios and their real-world impact:
- A chief operations manager at a major global manufacturing company is struggling with frequent unplanned downtime. Despite investing in maintenance programs, his team discovered that over 60% of their maintenance activities were unnecessary or reactive, leading to product delays, rising costs, and lost profits.
- A heavy industry plant operator faces a different challenge: aging assets, usually 30-40 years old, no longer meet regulatory requirements. Her situation seemed insurmountable, needing to extend asset lifespans, ensure compliance, and improve safety—all while keeping costs in check.
As you know, these are not isolated cases. Maintenance-related issues like unplanned downtime, product losses, and energy inefficiency cost major industrial companies at least $864 billion annually—that’s a staggering $532,000 each hour. Meanwhile, maintenance and operations teams are also grappling with improving overall equipment effectiveness (OEE) reliability, reducing total cost of ownership (TCO), and navigating the complexities of industrial digital transformation.
Limitations of traditional asset management
Industrial companies have relied on standard preventive maintenance schedules, routine inspections, and manual processes to manage asset performance for decades. However, these approaches often fail to reach facility-wide objectives, leading to inefficiencies, unnecessary maintenance work, and unexpected failures.
What’s shocking is that nearly two-thirds of maintenance efforts do not contribute to increased reliability. The reality is that most organizations lack the visibility and insights needed to make informed, strategic maintenance decisions.
That’s one reason companies are shifting to a more data-driven approach—combining technology, analytics, and industry expertise to create smarter maintenance strategies.
The role of partnership
Recognizing these challenges, Schneider ElectricTM proudly partners with MaxGrip, a globally trusted advisor bridging the gap between people and technology, to take industrial asset performance management (APM) to the next level.
By integrating Schneider Electric’s advanced asset performance management and the Maintenance Maturity Index from asset performance assessments with MaxGrip’s Asset Improvement Program (AIP), companies now have a powerful tool to maximize uptime, efficiency, and profitability.
This is not just about fixing machines or implementing industrial automation. It’s about transforming the entire approach to asset management, helping companies move from reactive maintenance to a proactive, predictive model.
Four ways industrial asset management strategies are enhanced
By combining Schneider Electric’s advanced asset management and digital transformation solutions with MaxGrip’s AIP, companies now have an advanced tool for improving reliability, efficiency, and profitability. Here’s how:
- A clear roadmap—MaxGrip’s AIP assesses an organization’s current maintenance maturity and provides a structured improvement plan, breaking down departmental silos and helping ensure new technology is implemented effectively and seamlessly.
- Data-driven decision making—With real-time insights from Schneider Electric’s digital solutions, companies can transition from reactive maintenance to predictive strategies, optimizing maintenance schedules and reducing unnecessary work.
- Enhanced reliability and reduced downtime—Advanced analytics help detect early signs of failure, allowing maintenance teams to address issues before they lead to costly breakdowns.
- Improved environmental, social, and governance (ESG) reporting and compliance—A streamlined asset management strategy helps companies improve energy efficiency, reduce waste, and meet increasing regulatory requirements.
The future of asset management: The partnership impact
Industrial asset management can be complex, but with the right combination of expertise and technology, these challenges become opportunities for improvement. With Schneider Electric and MaxGrip’s integrated approach, companies can gain better control over their maintenance strategies, reduce costs, and achieve long-term operational excellence.
Are you ready to transform your asset management approach? Learn more about how Schneider Electric and MaxGrip can help you optimize your asset performance and turn maintenance challenges into opportunities—driving performance, sustainability, and profitability for years to come.
Start your journey now by learning more about our Industrial Digital Transformation Services.
About the author
John Myers – Asset Management & Reliability Consultant at Schneider Electric
John Myers is a recognized expert in the field of asset management and performance, specializing in digital transformation and maintenance reliability. With a proven background in life cycle costing and mineral, oil, and gas processing, John excels in MES layer solutions and IT/OT convergence. His extensive experience includes oil and gas program management, PMO management, and business process re-engineering. As a seasoned consultant, John has a proven track record in project management, business analysis, and ERP implementation. He is also a CMMS specialist, particularly in the mining and utilities sectors.
About the author
Ronald de Kok – VP Business Development & Product Management at MaxGrip
Ronald joined MaxGrip in 2016. Prior to MaxGrip, Ronald held significant roles at Bureau Veritas and Lloyd’s Register, specializing in market expansion and business development. Ronald leads business development and product management at MaxGrip. He is also actively involved in developing, deploying, and implementing Asset Performance Management in client organizations. His passion is to get the best performance out of people and their organizations, and maximizing the potential of AI and associated IIoT solutions.
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