The energy and utilities industry is on the cusp of a significant transformation driven by increased competition, technological advances, and environmental concerns. More recently, rising inflation, supply chain issues, and growing geopolitical tensions have impacted energy businesses on many
levels—creating a perfect storm with multiple challenges. The old saying “adapt or die” has never been more relevant. To stay ahead of the curve, organizations must embrace cutting-edge technologies, such as cloud, big data analytics, artificial intelligence, and machine learning.
“Digital technology can help reduce global emissions by 15%.”
— World Economic Forum
According to an International Energy Agency (IEA) report, many governments and organizations are investing in research and development (R&D) projects in the energy sector. Examples include low-emission hydrogen-based steelmaking, small modular nuclear reactors, and lithium-free batteries. (source) The report notes that in 2021, companies active in energy technologies spent almost $120 billion on energy R&D, three times more than governments. The report also found that while there has been considerable progress in R&D projects, more efforts are needed to reach net-zero milestones. But that’s easier said than done.
Engineering complexity has grown exponentially over the years, driven by the rise in cloud computing and the ubiquitous Internet of Things (IoT) technologies, which enable new data-driven business models across the industry. Many large-scale energy project owners are facing issues, such as project delays, cost overruns, compliance issues, and digitalization challenges. Project management expertise is required to coordinate engineering and design projects. This includes managing design variables, requirements management, multidisciplinary bill of materials (BOM) management, program management, and various other activities across departments.
That’s where Siemens Teamcenter Product Lifecycle Management (PLM) software comes in—A modern, adaptable PLM platform that connects people and processes, across functional silos, with a digital thread for innovation. It’s designed to help organizations manage and track their requirements throughout the development lifecycle, manage multidisciplinary BOMs, and streamline product development processes.
Simplify PLM with Teamcenter
Teamcenter enables the most comprehensive digital twin and provides a single source of truth for all stakeholders. Use digital twins to connect and optimize processes for designs, systems, software, simulation, and visualization. Resolve problems before they become real.
Achieve seamless collaboration
The software allows seamless connectivity and collaboration among product and engineering teams. Automate and streamline product lifecycle processes and provide visibility for everyone to make innovative product decisions. Learn how contributors manage requirements with ease and exchange definitions between engineering disciplines.
Get started and drive ROI by collaborating with Applied CAx
By partnering with Applied CAx, you can leverage the transformative technology of Siemens solutions combined with the deep industry knowledge and expertise of Applied consultants to address your unique challenges. Whether you have legacy applications or have concerns about integrating with existing software, we’re uniquely positioned to help your teams develop a product lifecycle management strategy that fits your needs.
We also provide ongoing support to ensure your Siemens solutions operate at peak performance, offering timely assistance and guidance throughout the entire process—from strategy through implementation, execution, and optimization.
Click here to speak with an Applied CAx consultant
“Applied CAX has been the definition of a strategic partner to X-Energy. They have demonstrated their expertise in both the technology as well as the unique challenges in the Nuclear Industry daily. Our company faces immense challenges in adopting innovative digital engineering capabilities, and the thought leadership and executive engagement from Applied CAx has made all of the difference and accelerated our adoption of these cutting-edge tools and processes.
The future success of X-Energy with respect to Design, Analysis, Build, and Operations has been positively impacted and strengthened by our partnership with Applied CAx and their team.”
Matthew Welsh
Chief Information Officer
X-Energy