Energy efficiency can be a fickle science. As companies evaluate projects that will deliver energy efficiency savings, it’s often the strategic use of mathematics that will dictate the decision. Hurdle rates, or the minimum required rate of return on an investment, have to be calculated to determine whether or not a project’s worth pursuing.
Categories: Industrial Energy Management (IEM)
Today, many industrial companies are facing similar challenges around improving energy efficiency, but not all have an optimal strategy for handling them. According to LNS's Industrial Energy Management Survey, three of the most common energy management challenges companies are facing today are measuring metrics, managing disparate systems and data sources, and dealing with a lack of supportive company culture around energy management.
At a high level, what are most industrial companies focused on? Although there are a number of areas, one that stands out is improving operational costs. Both internal and external stakeholders are looking closely at revenue, earnings, and so on, adding pressure to not only maintain current performance but also continuously improve it. The question remains, however, how do you identify areas for improvement especially after taking care of the low-hanging fruits?
The following articles provide advice for many aspects of an organizational structure. Both top executives and plant managers can find insight to assist them in their current initiatives. These discussions include guidelines to developing a business case for departmental integration, how embracing kaizen can improve employee engagement, knowledgable investments in energy management, and considerations for quality management software selection.
Below are articles from the past week that discuss a range of industrial topics including the future connection between MES and PLM due to GE's most recent venture, how America's energy consumption effects the economy, and product compliance through data analysis.
This article compliation provides insight into the latest advancements occuring within the industrial technology space. Topics being discussed include PLM, the relationship between enterprise quality management software and big data, quality management failures in the automotive industry, and more.
Last month, we launched our inaugural Industrial Energy Management (IEM) survey. In that short period of time, it’s been taken by over 100 executives and leaders in charge of making energy and sustainability-related decisions in their organization. Through the survey responses, we’ve been collecting benchmark data on a number of people, process, technology, and metrics-related questions.
This week, we are sharing recent industrial articles that include discussion of implementing manufacturing execution systems (MES), food traceability, and energy management.
This LNS Research article discusses recently published industrial content. The round-up for this week includes topics such as advancements in offshore wind energy, ROI of big data for manufacturers, product lifecycle management (PLM) as it relates to quality, and developing centralized energy management.