Asset Information Management for the Electricity Sector

Get ready for the future with asset information management

Power plants face numerous challenges in document compliance when their supply chains deliver contracted-for documents. The operator must manually perform document compliance checks when receiving the documents from the supply chain. However, most utilities do not have the resources to continually perform these manual checks on every document received. The detailed minute-by-minute data about usage demand and other data that is available from modern connected systems can help power companies manage their grids better, but the volume of this data can overwhelm antiquated systems.

In relation to this, the three common shortfalls most companies experience today are:

Access to documents

When there's no structured way for external parties to access documents, it compromises security. Compiling reports which involves having to pull data from disconnected, antiquated sources wasted valuable time, and not being able to quickly access critical information during an unplanned shutdown cripples responsiveness.

Inconsistent handovers

Some companies still maintain outdated processes that make managing the flood of engineering documents unreliable and make working with external vendors difficult. For instance many companies manually check that the documents submitted by the supply chain are compliant to agreed-upon standards. This often faces them with the difficult scenario of not knowing if something was wrong until it's too late. 

Need to reduce costs

When errors creep into documentation, companies often waste money on human labour trying to rectify these issues. Using outdated documents often leads to rework, project delays, cost overruns and safety incidents - all of which negatively impace the Profit & Loss ( P&L) statement and balance sheet. 

So how do you overcome these issues?

Tackling the challenges of managing an ever-increasing load of engineering documents and drawings while remaining regulatory-compliant is a major challenge. The more documents and drawings in an archive, the more challenging the task, and the greater the need for a specialised platform to manage them. As a result, we've seen a number of utilities companies start to adopt asset information management systems like Meridian. Hear how they are using the system...

"Meridian has proven to be a valuable boost to productivity. Engineering information management is an important way to create the integration that is needed to be more productive.”
New York Power Authority
Robert Sickles, Operations Manager
"Distance is irrelevant with Meridian. Whether you’re an engineer at a power plant or a maintenance technician out in the field, you have reliable access to a single source of information. Meridian has significantly improved our team collaboration at all levels.”
Seattle City Light
Janet Hart, Technical Services Manager, Generation Operations & Engineering

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