Yokogawa Electric Corporation has received the Global Customer Value Leadership Award for Integrated Performance Management from global market research and consulting company Frost & Sullivan as part of their 2019 Best Practices Awards.
Announced on 29 July, the award recognises how Yokogawa's OpreX profit-driven operation solution helps customers in the process industries deliver more profitable operations through real-time production performance improvements that are aligned from the management level to the plant floor.
Frost & Sullivan presents the Best Practice Awards to companies that have demonstrated outstanding leadership in technology innovation and the strategic development of products and services for regional and global markets. To decide these awards, Frost & Sullivan analysts independently conduct interviews, analyse data, and carry out research in many different fields. For the Global Customer Value Leadership Award, Frost & Sullivan evaluates companies based on several factors that concern the two key aspects of customer and business impact.
The OpreX profit-driven operation solution that earned this recognition takes the production performance indicators that are conventionally monitored by plant management on a weekly, or monthly basis and breaks them down to the technical and operations levels using industrial best practices. It then calculates and displays them in real time by utilising the big data from the distributed control system (DCS).
By providing performance alarms, guidance messages, and a performance balance score, the solution helps operators and engineers stay aligned and promptly improve production performance. In addition, consulting services are provided to uncover more fundamental production performance improvements by referring to the historical production performance indicators recorded over time.
By merging Yokogawa's expertise in operational technology (OT) and Industrial Internet of Things (IIoT) technology with the process industry best practices of its subsidiary KBC, Yokogawa enables production performance optimisation over the lifecycle of a customers' plant.
In the award write-up, Frost & Sullivan's industry director for automation and IIoT, Muthuraman Ramasamy states: "In a market with several solutions that help customers make more sense of big data, Yokogawa chose to take an uncharted path and create a market category of its own. The innovative category is integrated performance management. The OpreX profit-driven operation solution pulls in real-time data from distributed control systems to structure a KPI dashboard that outlines the performance of plant management objectives. Yokogawa's ingenuity in leveraging this real-time big data from the DCS differentiates it from its peers. The OpreX profit-driven operation solution is expected to become the standard for global plant operations because it balances the tradeoffs between KPIs and provides one solid operational health score."
Yasunori Kobayashi, general manager of the solution development department in Yokogawa's digital enterprise business headquarters, commented: "Yokogawa is supporting its customers' digital transformation journey by integrating OT, IIoT technology, and industry best practices. OpreX profit-driven operation is a leading example of that, so we are delighted that this unique value has been so highly evaluated by Frost & Sullivan. The response from our customers has also been very positive and we look forward to helping them deliver profit improvement across their entire plant."
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