The Oil and Gas industry is experiencing a looming retiring workforce - referred to as “the Great Crew Change”. A large age gap where most engineers are either over 55 or under 35. The older crew, comprised of nearly 50% of the industry’s employee base, would be retiring in the next 2 -3 years. These are the folks who have ‘lived’ the plant, nurtured the machinery they operate like their own baby and know just by looking at the operating parameters or by listening to the din when the machine runs whether it is at optimal efficiency or not. None of this is documented in any operating manual. Imagine what losing that invaluable experience would do to any industry?
To tackle this, we not only need to manage existing assets but also create new values using the information that we capture about them. Learn how IoT integrates sensing (from field instruments / analyzers / devices), communications and analytical capabilities and helps in creating an entirely “new information asset” which captures relationship between its identity and its relevance in supply chain ecosystem.