Yokogawa Electric Corporation (TOKYO: 6841) 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 July 29, the award recognizes how Yokogawa’s OpreXTM 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 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, analyze 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 utilizing 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 optimization over the lifecycle of a customers’ plant.
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Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Founded in 1915, Yokogawa engages in broad-ranging activities in the areas of measurement, control, and information. The industrial automation business provides vital products, services, and solutions to a diverse range of process industries including oil, chemicals, natural gas, power, iron and steel, and pulp and paper. With the life innovation business, the company aims to radically improve productivity across the pharmaceutical and food industry value chains. The test & measurement, aviation, and other businesses continue to provide essential instruments and equipment with industry-leading precision and reliability.