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Rethinking Asset Management

IMC-2019 Learning Session 41:51 Minutes

by Paula Hollywood, ARC Advisory Group

With the advent of Industrial Internet of Things, Digitization, Digital Transformation, and the like, is the conventional thinking about asset management sufficient, or do we as an industry need to expand our thinking to address contemporaneous and emerging business and operational strategies? The availability of IIoT tools does not change the primary purpose of maintenance which is to ensure that production equipment is available and operating sufficiently to meet production goals. What has changed is the operating ecosystem and the access to asset information throughout the ecosystem over the lifecycle of the asset.

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