Product lifecycle management enables proactive maintenance processes to drive efficiency
Pittsburgh — March 15, 2004 — NOVA Chemicals, a leading global supplier of commodity chemicals, said it is achieving annual savings of approximately $10 million through improved business processes enabled by mySAP Product Lifecycle Management (mySAP PLM) and SAP enterprise resource planning software.
Using mySAP PLM, NOVA Chemicals said it is making significant progress toward delivering on its strategy to be the low-cost provider of commodity chemicals. NOVA Chemicals' global World Class Reliability (WCR) program for improving plant operating efficiencies is powered by SAP solutions, and the company expects to continue reducing annual maintenance costs through the use of standardized maintenance work processes and mySAP PLM software.
"The commodity chemicals market is dynamic and extremely competitive," said Larry MacDonald, chief financial officer, NOVA Chemicals. "With mySAP PLM, we have been able to standardize our business processes, establish measured performance indicators and maintain accurate data. Improving the reliability of our manufacturing operations through a proactive maintenance approach helps us realize significant savings and contributes to our strategy of being the low-cost provider of commodity chemicals."
SAP said its PLM solution enables NOVA Chemicals to monitor and maintain equipment assets, plan and schedule routine and preventive repairs, purchase maintenance repair parts and services, and track costs. The provider said its enterprise asset management applications are designed to help asset-intensive enterprises standardize business processes, reduce operating costs and improve utilization of assets while ensuring data integrity. In addition, a comprehensive set of metrics is used by NOVA Chemicals' leadership team to monitor company operations, compare past and present performance and set future targets.