These days, Asset Performance Management (APM) has been elevated in importance, representing a critical business process for nearly every manufacturing company. Maximizing asset productivity is one of the key factors in driving profitability and ensuring long-term business viability.
But APM as a concept has moved beyond the common notion of break-fix maintenance, with an entire ecosystem of software applications, specialized hardware, consultants, training programs, and standards dedicated to improving the methodologies, resource allocation, energy use, and others to achieve Operational Excellence. In this Research Spotlight, LNS Research explores the full landscape of APM applications, how they fit into enterprise operations, and how to assess which are appropriate given operational circumstances. Specifically, LNS Research covers:
- The evolution of APM methodology from break-fix through Preventive and Predictive Maintenance and Condition-Based and Reliability-Centered Maintenance
- How APM applications interact with other enterprise technology like MOM/MES applications, ERP, data historians, and process control systems
- The importance of prioritizing APM applications that provide a rich data collection platform, and where stand-alone point solutions should be integrated
- Actionable recommendations for success