This week, Greg Goodwin of LNS research is counting down the top 5 asset performance trends in the manufacturing sector.
5.) Not only will Asset Performance Management elevate operations, it will increasingly enter overall executive business decisions as well.
Like many business areas, Asset Performance Management (APM) has matured over the past few decades from what was once viewed mostly as a maintenance activity, into what is today a proactive, interdisciplinary strategy that has broad effects on productivity, sustainability, Environment, Health & Safety (EHS), and ultimately, profitability.
As executives gain greater visibility into production asset availability and efficiency, they’re developing a greater understanding of how APM can have a critical effect on key indicators of business success, like Overall Equipment Availability (OEE) and productivity metrics, and APM is entering the decision making arena of the executive.
To drive toward Operational Excellence, it’s no longer enough just to ensure that assets are online and available, but that they’re operating at peak performance across several dimensions, which requires a well-thought strategy to achieve. Take a brief APM survey from LNS Research to find out much more in this Research Spotlight.
Greg Goodwin for LNS Research