Bangkok, 25 January 2021 - IBM today announced that the Electricity Generating Authority of Thailand (EGAT), Thailand’s largest power producer under the Ministry of Energy, has selected IBM’s AI-powered enterprise asset management solutions to help manage the high-value assets of its electric power plants.  

IBM’s AI-powered Maximo Enterprise Asset Management, implemented by Triple Dot Consulting Co., Ltd., an IBM business partner, has now helped EGAT unify its asset management processes from maintenance, inventory management, parts purchase and supplier management.  

The single-view, cross-enterprise reporting capabilities now allow EGAT to identify items that have a significant impact on overall inventory cost, analyze different categories of stock that will require varied management and controls, whilst also decreasing inventory carrying costs by 30%. 

Optimizing asset management and maintenance processes helps EGAT not only improve operational performance by reducing cost and complexity associated with redundant asset management infrastructure and manual processes, but also lower the new equipment purchase by 3-5%, while improving availability and longevity of strategic assets by 5%. In addition, being able to integrate the system with procurement management platform allows EGAT to enhance operational speed and agility. 

“Breakdowns, ill-timed maintenance and stoppages due to quality issues can hugely disrupt the electric power and energy resources of the country, impacting communities and tens of millions of citizens and businesses,” said Nophol Phun-Ngun, Director of Power Plant Asset Management Division, EGAT. “Owning and operating power plants across Thailand, EGAT’s mission is to ensure that the power system works reliably and securely for the nation. Leveraging IBM’s Enterprise Asset Management has empowered us with complete visibility into the performance of our critical assets and operations, helping us manage them with utmost safety and efficiency.” 

“We are committed to help businesses extend their asset lifecycles and optimize their maintenance strategy by embedding IBM’s advanced AI and analytics technology to gain essential insights for intelligent asset maintenance and enhancing return on investments.”  said Patama Chantaruck, VP for Indochina Expansion and Managing Director for IBM Thailand. “As a leader in Enterprise Asset Management applications [1], we are pleased to collaborate with EGAT, providing them with an ability to aggregates data across departments and further their mission to drive operational efficiencies across their business.” 

AI-powered data models and workflows, together with cross-business sharing of resources, workforce knowledge and industry expertise is driving EGAT’s adoption of common best practices organization-wide, allowing engineers and asset owners to gain a deeper understanding of the health of their assets.  

For example, EGAT can now leverage AI to monitor relevant maintenance related data to improve decision making, automatically classify the movement type of each inventory item, proactively manage and prioritize infrastructure repair. EGAT is now able to monitor and manage inspection status proactively anywhere, anytime, with report results being shared in real time on authorized connected mobile devices.  

 
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Reference: 

[1] IDC MarketScape: SaaS and Cloud-Enabled Asset-Intensive EAM Applications (Software Vendors) 2019 Vendor Assessment (doc #. #US44891419, March 2019). 

About IBM Maximo Enterprise Asset Management: 

IBM Maximo Enterprise Asset Management is today deployed across 99 countries, seven continents and used by many of the world's largest organizations. For more information, please visit www.ibm.com/products/maximo/asset-management. 

Media contact 

Paranee Reymondon   
IBM Thailand Co., Ltd. 

Email: paranee@th.ibm.com