‘Holistic approach’ to asset management gains traction

Companies with comprehensive asset management programs use multiple maintenance management programs to improve daily performance and ensure the ongoing health and longevity of mission critical equipment.


Companies with comprehensive asset management programs use multiple maintenance management programs to improve daily performance and ensure the ongoing health and longevity of mission-critical equipment. One strategy being more actively pursued by better performing companies, however, involves rationalizing data across all asset-related systems and databases. In fact, one-third of the 156 manufacturers recently surveyed by Aberdeen report they are improving interoperability and building data models to unify operational data.

By taking a holistic approach to asset management, best-in-class companies are better able to optimize the performance of their plants and equipment and avoid unplanned downtime and unneeded maintenance, says Aberdeen.

Forward-thinking companies are also leveraging information contained in existing asset management systems to empower decision-makers. They are doing this 55% more frequently with Web-based performance analytic tools than their poorer-performing competitors, according to Aberdeen.

The Asset Management Benchmark report also reveals that best-in-class companies are extending core systems by leveraging emerging technologies, such as smart devices six times more frequently than industry average and 'laggard organizations.'

According to Aberdeen, the study demonstrates a strong link between OEE (overall equipment efficiency) performance and the:

  • Formalization of processes,

  • Ability to share knowledge, and

  • Appropriate deployment of process automation and emerging technologies.

For related reading from Control Engineering , see ' Building Bridges to the Enterprise .'

—Renee Robbins, editorial director, Control Engineering,

No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Make Big Data and Industrial Internet of Things work for you, 2017 Engineers' Choice Finalists, Avoid control design pitfalls, Managing IIoT processes
Engineering Leaders Under 40; System integration improving packaging operation; Process sensing; PID velocity; Cybersecurity and functional safety
Mobile HMI; PID tuning tips; Mechatronics; Intelligent project management; Cybersecurity in Russia; Engineering education; Road to IANA
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Flexible offshore fire protection; Big Data's impact on operations; Bridging the skills gap; Identifying security risks
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
click me