Busting the myth - can Asia really innovate?
In an effort to improve operations, Asian companies have rolled out optimization algorithms, advanced maintenance plans, robots and system automation initiatives
Automated entry gates at Philippine ports such as at its flagship terminal in Manila are making a huge difference for International Container Terminal Services, Inc. (ICTSI). The company installed a new state-of the-art gate facility that will not only boost operations and security at the country's premier container terminal, but also further improve safety of cargo as all boxes are weighed as they pass through the gates.
This project aimed to achieve a faster turnaround time for gate transactions, providing smoother and faster customer experience. It took advantage of Optical Character Recognition (OCR) technology in automating the capture of truck plate numbers, container numbers going in and gating out of the terminal. These tasks were previously done manually.
ICTSI's automated gates project wins The Asset Best Innovation Initiative.
The Asset Best Innovation award celebrates not only novel ideas, methods or device, but also the process of finding better ways of doing things and adapting old models to suit new environments.
This year, Thailand's oil exploration and production company, PTT Exploration and Production Public Company Limited (PTTEP) is being recognized for using in-house software and algorithms to convert full-field production system to linear equations.
Gas fields in the Gulf of Thailand (GOT) have operational complexities and confront many common challenges. Such challenges include the huge number of wells and platforms, and the large, complex, interconnected pipeline network, and dynamic well performances. Optimizations aiming to maximize revenue from these fields are very challenging.
A linear programming optimization algorithm in MATLAB software is then used to solve the resulting optimization problem for a single time step and calculate the future performance using decline trend.
The linear programming in MATLAB is efficient at solving large-scale problems when compared with other conventional tools such as Microsoft Excel, especially as the developed source code can be maintained by in-house staff.
Rayong Gas Separation Plant (GSP), one of the most critical machines in the gas separation process, severely broke down at PTT Public's complex and resulted in a 5-day unplanned shutdown of natural gas, contributing a loss of approximately 453.7 million baht.
The incident has taught the company to develop "The Soothsayer" an innovation based on predictive maintenance. By predicting failures and anomalies of machines, PTT is able to prevent unscheduled repair and maintenance of its facilities.
Telecom company True Corp introduced Cofy, a friendly robot that serves beverages at its coffee shops. Cofy is a remote form android that is self-charging and can be monitored and controlled digitally.
This year The Asset Highly Commended Innovation Initiative is awarded to China Telecom. Its 5G Network Evolution is keeping the company current despite cost and rollout challenges.
For the list of Best Investor Relations Team 2018, please click here
For the list of Best Initiatives, please click here