Accenture has developed a digital asset management system for Shaanxi Electric Power Company (Shaanxi Electric) targeting lower capital and operational costs, reduced risk to people and assets, and enhanced operational performance.
The digital asset management system collects and gives the electric company access to asset life cycle information in a single tool, enabling it to glean predictive insights for improved real-time decision making.
Accenture developed and implemented the digital life cycle asset management system, based on the internet of things (IoT) and mobile technologies. The system connects, integrates and analyzes data from numerous devices – such as transformers, circuit breakers, relays and other grid assets – across their full life cycle.
Workers use mobile devices to communicate with RFID tags fixed to equipment for any operation. Mobile applications developed by Accenture focus on several key areas, including supplies receipt and distribution, infrastructure installation and testing, equipment inspection, and asset verification.
Accenture also helped Shaanxi Electric move these applications from a local server to a private cloud environment.
Shaanxi Electric’s IT department can analyse this data through an IoT-based platform, developed by Accenture, that uses predictive analytics to generate insights, enabling real-time asset health and performance management to improve productivity.
Accenture said the system should also help Shaanxi Electric better track purchase orders, calculate construction costs and record maintenance logs.
Genzhou Zhang, deputy chief information officer of Shaanxi Electric, said: “The solution will provide us with better service quality, due to increased power supply stability and fewer outages, driven by improved device operation performance.”
This project will help Shaanxi Electric take advantage of Industry X.0 technologies to lead asset management into a digital era, said Doreen Deng, a managing director in Accenture’s Resources practice in Greater China.