Over the last decade, asset-intensive industries, including mining, power generation, and material handling have experienced waves of change across their operations. From disruptive digital transformations and cyclical commodity prices to the current global pandemic, asset-intensive companies must respond and transform the way they operate in order to remain productive and viable.
Drivers of change
Many factors, both direct and indirect – including social, political, and economic, drive the need for transformation. From an asset management viewpoint, how can you position your business so that assets perform efficiently and optimally, regardless of the scenario?
In times of change, opportunities often arise. It is important to take a step back and revisit your asset optimisation strategy to adapt and turn emerging opportunities into growth. This includes re-defining your KPIs, assessing your risks, and finding better, more efficient ways to use your budget to optimise your assets and make sure they reliably meet your production objectives.
Focusing on asset optimisation provides businesses with:
- A maintenance strategy that supports your operational needs and goals, and avoids unplanned shutdowns and maintenance costs
- A rigorous risk management approach with measurable steps that when implemented, controls and mitigates risk
- Data-driven decision making that supports key decision-makers and drives tangible benefits
By increasing asset reliability and performance, prioritising and executing maintenance activities at the right time, and improving agility in production planning as well as working cultures, you can address the most urgent challenges as they arise.
These recommendations and examples are discussed in more detail in our webinar ‘The role of asset optimisation in operational transformation and viability.’