ExxonMobil and Meridium Form Alliance to Market Exxonmobil Equipment Taxonomy.Business Editors FAIRFAX, Va. & ROANOKE, Va.--(BUSINESS WIRE)--Aug. 12, 2002 ExxonMobil, Meridium Agreement Will Leverage Best Practices to Petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. Industries Worldwide ExxonMobil Research and Engineering Company (EMRE) and Meridium, Inc., the leader in strategic reliability solutions, today announced an agreement for Meridium to globally market and license EMRE's enterprise equipment taxonomy taxonomy: see classification. taxonomy In biology, the classification of organisms into a hierarchy of groupings, from the general to the particular, that reflect evolutionary and usually morphological relationships: kingdom, phylum, class, order, . Taxonomy is a structured classification of all significant equipment, equipment components and maintenance activities that may be found in a given petrochemical facility. When used with the Meridium enterprise reliability management software, the taxonomy enables process operators to drive strategic change and lower operating costs operating costs npl → gastos mpl operacionales through consistent measurement of key performance indicators Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organization. KPIs are used in Business Intelligence to assess the present state of the business and to prescribe a course of action. (KPIs) resulting in improved equipment reliability. EMRE developed the taxonomy to be a standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. method for classifying, measuring and tracking equipment specifications and performance across ExxonMobil operations worldwide. Through use of the taxonomy, ExxonMobil has simplified its own internal data collection while reducing maintenance costs. When used together with Meridium systems, the taxonomy enables greater analysis and reporting of production performance, reliability and availability. "We have recognized tremendous value from using a standard taxonomy for equipment classification and key performance indicators," stated Ben Markham, EMRE's engineering vice president. "Extending use of this taxonomy to include Meridium's enterprise reliability management solution allows companies worldwide to realize greater cost savings, productivity gains and improved reliability." The Power of Standardization standardization In industry, the development and application of standards that make it possible to manufacture a large volume of interchangeable parts. Standardization may focus on engineering standards, such as properties of materials, fits and tolerances, and drafting The EMRE taxonomy details a wide range of parameters for the consistent tracking of plant equipment across an enterprise. Specifications by equipment class include - -- Equipment hierarchy, -- Maintainable items and technical characteristics -- Boundary definitions -- Unified codes and definitions for functional failures, damage mechanisms, and remedial actions -- Definitions of Key Performance Indicators. When equipment classification is standardized globally and leveraged within the Meridium system, companies gain a richer view of trends such as bad actors, hidden plant capacity and unrecognized costs. This, in turn, improves decision-making decision-making, n the process of coming to a conclusion or making a judgment. decision-making, evidence-based, n a type of informal decision-making that combines clinical expertise, patient concerns, and evidence gathered from abilities, reduces risk of incidents and improves enterprise reliability. "EMRE brings to Meridium customers a proven, world-class set of standards that will improve the key performance indicators required to remain competitive in today's environment," said Bonz Hart, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for Meridium. "Together, EMRE and Meridium solutions will not only improve reliability but greatly simplify the daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin task of consistently measuring and analyzing performance, risk and availability across multiple sites." Meridium Enterprise Reliability Management As part of the agreement, Meridium will immediately begin to market and license the EMRE taxonomy as part of its Meridium enterprise reliability management family of software and services. Customers who choose to use the EMRE taxonomy along with Meridium will receive preconfigured Set up ahead of time. It implies that the device or software application has been modified to suit the customer or situation. See ghosting server. software that ensures faster implementation than that required without use of a taxonomy. Meridium's professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. organization will also be available to provide assistance with the planning, execution, training and support of the combined solution. EMRE is the research and engineering arm of ExxonMobil, a leading global oil, natural gas, and petrochemicals company whose subsidiaries have operations in nearly 200 countries and territories. Additional information regarding ExxonMobil and technologies it licenses can be found at www.exxonmobil.com/refiningtechnologies. About Meridium Meridium, Inc. is the leader in strategic reliability solutions for the enterprise. With Meridium, process manufacturers can improve all three points of the operational excellence triangle -- reliability, availability and profitability. The Meridium enterprise reliability management solution is the industry's only enterprisewide, intelligent reliability solution that enables profitability by predicting, preventing and determining why equipment failures occur. In addition to ExxonMobil, Meridium customers include such industry leaders as ChevronTexaco, Equistar Chemicals, Marathon Ashland Petroleum and Southern California Edison Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California. It provides 11 million people with electricity. . Founded in 1993, Meridium is headquartered in Roanoke, Va., with sales and support offices in Houston. For more information, visit us at www.meridium.com or call 540/344-9205. |
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