Immensa (“the Company”), MENA’s largest digital manufacturer, announces – in collaboration with DNV (Det Norske Veritas) – the world’s first guideline on the digitization of spare parts.
The new guideline is a breakthrough innovation, and with the energy spare parts market valued at $91 billion globally – it is pivotal for the energy sector.
It will significantly complement various national industrial initiatives in the Gulf region, stimulating sustainable economic growth and enhancing the global competitiveness of industrial bases amid the Fourth Industrial Revolution.
The guideline will support customers – international energy players, as well as industrial manufacturing companies – to embark on the advanced manufacturing journey via a clear, streamlined step-by-step process focused on solving challenges in supply chain and inventory management making it more efficient and flexible.
We are thrilled to set a new benchmark in the digital transformation of industry alongside our world-class partners at DNV – and today’s news is a game-changer for global supply chains and asset security.
Energy companies are demanding the very latest cutting-edge innovation to produce parts locally, and national industrial strategies are focused on the same goal for their wider manufacturing sectors. We are delighted to support the Middle East’s rapid growth, and to be a pivotal player in the $91 billion global energy spare parts market.
This world-first guideline is a milestone in digitization of industrial spare parts. The disruptive qualities of a Digital Inventory bring established guidelines on data capture of spare parts, a defined digital asset concept, and standardized approach for creating digital assets.
While the guideline is a certification for the wider manufacturing industry to adopt, Immensa is implementing it today with global customers – a major competitive differentiator.
“We can conduct AI-enabled assessment for 500,000 parts in 24 hours – customers can start now with this first step.”
Energy companies, globally, experience ‘unnecessary losses’ of c. $30 billion annually related to inventory management, thus making digitized inventories and on-demand manufacturing a high priority. Immensa believes that in a decade, or less, 80% of spare parts manufacturing will be done this way – rendering traditional legacy models obsolete.
A dedicated team of 10 experts, from Immensa and DNV, spent five months working to establish the guideline – pooling their knowledge of additive manufacturing, digital warehousing, and quality assurance. The guideline also reflects customer insight to ensure rigorous technical depth – but effective and accessible criteria for purchasers and manufacturers to consult.
We, at the DNV AM team, are delighted to reflect on our successful collaboration with Immensa on this groundbreaking project. The unveiling of the industry’s first-ever guideline on Digital Inventory Readiness Levels marks a significant milestone in additive manufacturing, setting a new benchmark and paving the way for future innovations and collaborations.
The guideline provides a structured framework covering the complete journey from identifying suitable physical spare parts through to digital inventory and on-demand manufacturing.
Assess physical parts and determine their potential and suitability for digitization.
Convert selected physical parts into digital twins and include them within a Digital Inventory system.
Apply on-demand manufacturing as a viable spare parts strategy for timely delivery and high-quality standards.
It follows recent strategic partnerships expanding Immensa’s global footprint, including Pelagus 3D – to capture a new US$2 billion market opportunity in the maritime vertical. In December 2023, Immensa received its milestone DNV Certification, the global gold-standard – the first company in MENA to have achieved it.
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