{"id":49112,"date":"2022-03-10T06:02:03","date_gmt":"2022-03-10T14:02:03","guid":{"rendered":"http:\/\/www.enxmag.com\/twii\/?p=49112"},"modified":"2022-03-10T09:51:50","modified_gmt":"2022-03-10T17:51:50","slug":"xeroxs-parc-announces-novity-a-new-venture-to-address-unplanned-downtime-in-industrial-manufacturing","status":"publish","type":"post","link":"https:\/\/www.enxmag.com\/twii\/news\/2022\/03\/xeroxs-parc-announces-novity-a-new-venture-to-address-unplanned-downtime-in-industrial-manufacturing\/","title":{"rendered":"Xerox\u2019s PARC Announces Novity, a New Venture to Address Unplanned Downtime in Industrial Manufacturing"},"content":{"rendered":"\n

Palo Alto, CA (March 9, 2022)<\/em> \u2014 PARC,\u202fa Xerox company, announced today the launch of Novity, a new venture to commercialize predictive maintenance (PdM) technology that reduces unplanned downtime in industrial manufacturing operations.<\/p>\n\n\n\n

Unplanned downtime is a key pain point for manufacturers, with recent studies indicating that it costs industrial manufacturers an estimated $50 billion each year.<\/p>\n\n\n\n

The Novity solution is an Industrial Internet of Things (IIoT) technology that uses equipment sensors and proprietary algorithms to enable industrial manufacturers to see the future health of their production assets. The Novity TruPrognostics engine relies on a combination of machine learning and physics-based models of equipment. This allows Novity to predict equipment failures with 90 percent or better accuracy and lead times of months, not weeks or days.<\/p>\n\n\n\n

\u201cOver the course of many conversations with customers in the industrial manufacturing industry, we identified critical problems where current solutions fall short: they require too much data, they aren\u2019t accurate enough, and they don\u2019t give users enough advance notice to act before it\u2019s too late,\u201d said Novity General Manager Markus Larsson. \u201cOur goal with this solution is to solve these problems, ultimately enabling zero unplanned downtime.\u201d<\/p>\n\n\n\n

Pennsy Supply, the leading manufacturer of aggregate, sand, asphalt, and concrete throughout the North and Central Regions of Pennsylvania, has installed a pilot deployment of the Novity technology and is already seeing benefits.<\/p>\n\n\n\n

\u201cNovity\u2019s solution has proven itself effective very quickly. Novity has delivered an excellent PdM solution for Pennsy,\u201d said Larry Kessler, Director of Operation Support, Pennsy Supply. \u201cWithin the first month, the system picked up a potential issue with a mill, allowing us to take preventative action, avoiding costly unplanned downtime.\u201d<\/p>\n\n\n\n

In addition to increasing the accuracy and prediction horizons of the solution, Novity\u2019s TruPrognostics engine also reduces the need for large amounts of data to deliver results. By leveraging a library of pre-built physics-based models, predictive maintenance is accessible to customers who lack the historical data required by other solutions.<\/p>\n\n\n\n

\u201cAs more manufacturers embrace new technologies that help their plants and factories run more efficiently, one of the things we\u2019ve heard over and over from customers is they need a solution they can rely on to make actionable decisions,\u201d said PARC President Naresh Shanker. \u201cWith Novity, we\u2019re leveraging PARC\u2019s expertise in AI, sensors and manufacturing to provide an exceptionally accurate predictive maintenance solution. This means less downtime, more productivity and profitability for our customers.\u201d<\/p>\n\n\n\n

Novity is the latest offering in PARC\u2019s broad entry into the industrial IoT market. In 2021, Xerox announced the launch of Eloque, a joint venture with the Victorian Government (AU) to commercialize new technology that will remotely monitor the structural health of bridges and other critical infrastructure. Last year Xerox also announced that PARC is working with the United States\u2019 Defense Advanced Research Projects Agency (DARPA) to develop a technology that can enable large-scale monitoring of seas under the Ocean of Things program.<\/p>\n\n\n\n

###<\/p>\n\n\n\n

About Xerox<\/strong>
For more than 100 years, Xerox<\/a> has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we\u2019ve expanded into software and services to sustainably power today\u2019s workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients \u2014 no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. <\/p>\n\n\n\n

About PARC<\/strong>
Palo Alto Research Center Incorporated (PARC), a Xerox company, is in the Business of Breakthroughs. Practicing open innovation, it provides custom R&D services, technology, expertise, best practices and intellectual property to Fortune 500 and Global 1000 companies, startups, and government agencies and partners. The company creates new business options, accelerates time to market, augments internal capabilities and reduces risk for clients. Since its inception, PARC has pioneered many technology platforms \u2013 from the Ethernet and laser printing to the GUI and ubiquitous computing \u2013 and has enabled the creation of many industries. Incorporated as an independent, wholly owned subsidiary of Xerox in 2002, PARC today continues the research that enables breakthroughs for businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Palo Alto, CA (March 9, 2022) \u2014 PARC,\u202fa Xerox company, announced today the launch of Novity, a new venture to commercialize predictive maintenance (PdM) technology that reduces unplanned downtime in industrial manufacturing operations. Unplanned downtime is a key pain point for manufacturers, with recent studies indicating that it costs industrial manufacturers an estimated $50 billion each year. The Novity solution is an Industrial Internet of Things (IIoT) technology that uses equipment sensors and proprietary algorithms to enable industrial manufacturers to see the future health of their production assets. The Novity TruPrognostics engine relies on a combination of machine learning and physics-based models of equipment. This allows Novity to predict equipment failures with 90 percent or better accuracy and lead times of months, not weeks or days. \u201cOver the course of many conversations with customers in the industrial manufacturing industry, we identified critical problems where current solutions fall short: they require too much data, they aren\u2019t accurate enough, and they don\u2019t give users enough advance notice to act before it\u2019s too late,\u201d said Novity General Manager Markus Larsson. \u201cOur goal with this solution is to solve these problems, ultimately enabling zero unplanned downtime.\u201d Pennsy Supply, the leading manufacturer of aggregate, sand, asphalt, and concrete throughout the North and Central Regions of Pennsylvania, has installed a pilot deployment of the Novity technology and is already seeing benefits. \u201cNovity\u2019s solution has proven itself effective very quickly. Novity has delivered an excellent PdM solution for Pennsy,\u201d said Larry Kessler, Director of Operation Support, Pennsy Supply. \u201cWithin the first month, the system picked up a potential issue with a mill, allowing us to take preventative action, avoiding costly unplanned downtime.\u201d In addition to increasing the accuracy and prediction horizons of the solution, Novity\u2019s TruPrognostics engine also reduces the need for large amounts of data to deliver results. By leveraging a library of pre-built physics-based models, predictive maintenance is accessible to customers who lack the historical data required by other solutions. \u201cAs more manufacturers embrace new technologies that help their plants and factories run more efficiently, one of the things we\u2019ve heard over and over from customers is they need a solution they can rely on to make actionable decisions,\u201d said PARC President Naresh Shanker. \u201cWith Novity, we\u2019re leveraging PARC\u2019s expertise in AI, sensors and manufacturing to provide an exceptionally accurate predictive maintenance solution. This means less downtime, more productivity and profitability for our customers.\u201d Novity is the latest offering in PARC\u2019s broad entry into the industrial IoT market. In 2021, Xerox announced the launch of Eloque, a joint venture with the Victorian Government (AU) to commercialize new technology that will remotely monitor the structural health of bridges and other critical infrastructure. Last year Xerox also announced that PARC is working with the United States\u2019 Defense Advanced Research Projects Agency (DARPA) to develop a technology that can enable large-scale monitoring of seas under the Ocean of Things program. ### About XeroxFor more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we\u2019ve expanded into software and services to sustainably power today\u2019s workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients \u2014 no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. About PARCPalo Alto Research Center Incorporated (PARC), a Xerox company, is in the Business of Breakthroughs. Practicing open innovation, it provides custom R&D services, technology, expertise, best practices and intellectual property to Fortune 500 and Global 1000 companies, startups, and government agencies and partners. The company creates new business options, accelerates time to market, augments internal capabilities and reduces risk for clients. Since its inception, PARC has pioneered many technology platforms \u2013 from the Ethernet and laser printing to the GUI and ubiquitous computing \u2013 and has enabled the creation of many industries. Incorporated as an independent, wholly owned subsidiary of Xerox in 2002, PARC today continues the research that enables breakthroughs for businesses.<\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[86],"tags":[362],"_links":{"self":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/49112"}],"collection":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=49112"}],"version-history":[{"count":2,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/49112\/revisions"}],"predecessor-version":[{"id":49136,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/49112\/revisions\/49136"}],"wp:attachment":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=49112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=49112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=49112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}