Asset Data & Tech Support – Asset Management Solutions

Asset Management is being supplemented with many new and evolving technology influences.  

  • Enterprise Asset Management (EAM) with solutions – like IBM’s Maximo – have been the focus of most asset responsible enterprises over the past decade. 

Other processes and major application systems that complement an EAM solution have been Asset Investment Planning (AIP) and Asset Performance Management (APM) solutions.

From yet another perspective – technology influences on Asset Management have also been: 

    • the growth in mobile technology;
    • the convergence of IT and OT (operations data with asset systems data);
    • data analytics growth;
    • cloud technology; and 
    • growth of artificial intelligence. 
  • All of these listed technical influences create a need to manage new sets of data from the physical objects (assets) that have evolved to sense, interact and communicate their internal state/status or external environment.    

Asset Acumen Consulting Inc. helps organizations understand their requirements for EAM and APM solutions. These can be aligned to leading practices or understanding how this type of transition could be applied to your organization and its dynamic needs.

Asset Data & Tech Support – Industry 4.0

With the term Industry 4.0 being defined by Gartner as connecting embedded systems and smart production facilities to generate a digital convergence between industry, business, and internal functions and processes, it makes sense that Asset Management 4.0 would align to support this IT and OT convergence.

Not keeping up with the soon-to-be-expected capabilities in automated technology could have negative emerging consequences that create a pressing challenge to your organization’s resilience to stay competitive.  These influences must be at least acknowledged in the ‘near term.’

Current Technology Entrants Emerging Technology Entrants

Industry Technology

  • Solar
  • Storage
  • Micro Operations
  • Wind
  • Fuel Cells

Operations Technology

  • Smart grids
  • Embedded Micro‐processing
  • Automated Demand /Response
  • Advanced Network Management
  • Situational Awareness

Emerging Technology Entrants

Consumer Technology

  • Smart Appliances
  • Electric Vehicles
  • Prosumer enablement
  • Applications (Apps)
  • Social networks

Digital Technology

  • Internet of Things
  • Big Data and Analytics
  • AI / Cognitive Computing
  • Cloud
  • Mobile

Asset Acumen Consulting Inc. assists organizations to understand their requirements for Industry 4.0 solutions specific to Asset Management. These can be aligned to leading practices or understanding how this type of transition could be applied to your organization and its dynamic needs.  We have a particular focus on aligning the Asset Management strategic needs with how IT can engage to support those needs in the short and long term.

Asset Data & Tech Support – Internet of Things

  • The act of enabling communications of this physical object (asset) status over the “internet” or an internal “intranet” is part of the components included in the term “the Internet of Things” (IoT).  
  • IoT in Asset Management is a natural extension of the technology evolution that is currently emerging.  
  • More and more of the products we touch as a consumer or in Industrial applications are instrumented to include: 
    • An increasing range of sensor capability;
    • The ability to manage data variety, volume, and velocity; and
    • Event-driven notifications/ information. 

With connectivity through an intranet or internet, these products provide the option to leverage:

  • Highly connected systems that can be cross collaborated; and 
  • Increased mobility and agility of the product application;

Asset Acumen Consulting Inc. helps organizations understand their requirements for asset management-related IoT- specific solutions. These can be aligned to leading practices or understanding how this type of transition could be applied to your organization and its dynamic needs.

We may have in place …..

  • EAM (i.e. SAP, Oracle, Maximo),
  • Auto Planning and Scheduling
  • Key Asset Prioritization
  • Integrated Maintenance Parts Management
  • Maintenance KPIs
  • Some Reliability Activity
  • New Asset Data
  • Limited Data Mining
  • Some Field Support
  • Some Operations Alignment

We may desire…..

  • Integrated EAM/APM/AIP
  • Optimized Operations Scheduling with Maintenance Resource Scheduling
  • Full Reliability rules leverage in Asset Activity Prioritization
  • Optimized Operations and Maintenance KPIs by Business Dimension
  • IoT and AI/Cognitive data analytics with machine learning 
  • IT leveraged: Leading Field Support
  • Dynamic ‘asset constraints’ factored into SCM risk and reliability commitments
  • More……..

Understanding where you are versus the available leading solutions in this dynamic technology era can be a daunting task.  From a simple baseline: understanding where you want to be and how / when might you may get there is likely the key to justifying the change journey.

‘Where I am’  ->  ‘Where I need to be!’

How do I ‘Cross the IT Chasm?’

Is your IT organization ready to support your asset Management strategic needs?

Asset Management Maturity versus IT Commitment to support Asset Management Strategically
Asset Acumen Consulting Inc. helps organizations understand their requirements for IT strategies in support of Asset Management solution. These can be aligned to what leading organizations are doing or aspiring to do.
Asset Acumen Consulting Inc. has deep experience in assisting organizations in the support of the implementation of Asset Management IT solutions.

Where are you in your IT support of your Asset Management needs?

  1. Our enterprise understands and fully follows an internally accepted standard for our Asset Management (AM) strategy and execution.
  2. Our enterprise has a fully implemented and executed Enterprise Asset Management (EAM) system.
  3. Our enterprise has a fully implemented and executed Asset Performance Management (APM) system.
  4. Our enterprise has a fully implemented and executed Asset Investment Planning (AIP) system.
  5. Our enterprise fully supports our journey to integrate AM with Operations and Supply Chain Management (SCM).
  6. Our IT team is prepared to support our journey to improved AM.
  7. Our complete cross-business unit community is fully engaged and committed to supporting AM.
  8. We have a fully functional data analytics group that is fully staffed and skilled
  9. Internet of Things (IoT), and Supervisory control and data acquisition (SCADA) data is fully understood and used to identify early constraints and opportunities for our enterprise and asset set.
  10. We fully understand and execute optimal algorithms to deliver our production value to our target market.

Asset Acumen Consulting Inc. helps organizations understand your requirements for IT strategies in support of your Asset Management solution. These can be aligned with what leading organizations are doing or aspiring to do.

Asset Acumen Consulting Inc. has deep experience in assisting organizations in the support of the implementation of Asset Management solutions.