by   |    |  Estimated reading time: 2 minutes  |  in Asset Intensive, Business Agility, Business Technology   |  tagged , , ,

An Enterprise Asset Management application that will flex and adjust to your evolving business during this age of digital transformation is an absolute must.

I was recently lucky enough to attend the ARC Conference in Orlando, Florida where they discussed some of the main topics concerning the transition of the asset and infrastructure industries and how they should navigate through this new age of innovation. The digital transformation occurring within these industries cannot be overstated, and new thinking requires lean and agile systems that can flex and adjust to the business as it evolves.

The Journey from Predictive to Prescriptive Maintenance

Many organizations are looking to continue their asset management optimization journey from predictive to prescriptive maintenance. In other words, maintenance tasks prescribed by intelligent systems can predict when a task needs to be done. Behind these systems, though, you need an Enterprise Asset Management (EAM) application that will place the asset at the heart of its solution. The condition, operational use, financial health and long-term strategic replacement planning of that asset are all necessary in regards to that product. As written in my white paper for selecting EAM software for business agility, it is clear that how you operate today will change your tomorrow, and being prepared for whatever comes next will be a continual challenge.

All equipment items should take the approach of looking at the full lifecycle. A primary focus has to be on the project management of the initial asset design—especially when you are spending so much money.

The modular approach of IFS Applications is unique in being able to capture all of the design information within the enterprise application before an asset is delivered or constructed. This means all of the history associated with the item can be found in one application from day one.

There’s More to Come

I plan to write further in regards to predictive and prescriptive maintenance, as we have a number of exciting developments in this area and are keen to receive comments and feedback on the topic.

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