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Asset Management Study Links Improvements with Mature Processes, Knowledge Sharing and Process Automation

AberdeenGroup, the provider of fact-based research for the technology-driven value chain, revealed that best-in-class companies are developing optimized asset management strategies that include enhancing existing maintenance management systems, gathering additional real-time data, providing analytic tools to operators and executives, and incorporating critical engineering data and maintenance procedures into unified data models.

According to the research presented in "The Asset Management Benchmark Report: Moving Toward Zero Downtime," best-in-class manufacturers are: 1) using smart devices six times more frequently than industry average and laggard organizations; 2) empowering decision-makers 55 percent more frequently with performance analytics tools; and 3) seeking solutions that unify data across core asset management systems (CMMS/EAM, PDM, document management) more than twice as frequently as their poorer performing counterparts.

The drive for improved financial results, product quality, safety and the ability to operate 24 hours conspire to make the management of manufacturing assets an important objective for all manufacturers in 2006 and beyond. This benchmark study investigates how companies are overcoming traditional performance boundaries to ensure that assets are meeting operational and performance objectives by asking the following:

  • What opportunities do manufacturers have today to proactively manage their plant and equipment availability?
  • What business capabilities and technology enablers are leading manufacturers deploying to predict failures so that action can be taken to minimize their impact on operations?
  • How are decision-makers being empowered with actionable and timely information? And, what are their future plans for the use of technology?

This piece is brought to you by the DM Review editorial staff.

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