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Asset Lifecycle Management

An asset lifecycle is the series of stages involved in the management of an asset. It starts with the planning stages when the need for an asset is identified and continues all the way through its useful life and eventual disposal. The basic premise of asset lifecycle management is to extend your assets’ usability as far as you can, without losing any functionality, thereby decreasing total lifetime costs and increasing the economic value-add of the asset. For example, when maintenance is neglected, companies have to struggle with the resulting unexpected breakdowns, long delays, and costly emergency maintenance. Proper asset lifecycle management can improve the process of maintaining and managing valuable assets.

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  • INDUSTRIES
  • Transportation
  • FUNCTIONS
  • Maintenance
    Quality Assurance
  • CASE STUDIES
  • Siemens: SpaceX delivers outer space at bargain rates
    Space X wanted to develop a rocket that can reduce the cost of space access by a factor of 10.
    Fusion Connect: California Tomato Machinery
    California Tomato Machinery (CTM) is the world' No.1 manufacturer of tomato harvesting tools and equipment. Their top customers were requesting a solution that would help them lower their total cost of ownership of machinery and assure maximum asset uptime.
    Infosys: IIC Asset Efficiency Testbed
    A recent study on maturity of Asset Efficiency from Infosys and the Institute for Industrial Management (FIR) at Aachen University revealed that 85 percent of manufacturing companies globally are aware of asset efficiency, but only 15 percent have implemented it at a systematic level. Current challenges include lack of instrumentation of the assets, missing real-time data analytics, lack of context due to missing information from other systems, and lack of a holistic focus with other aspects of efficiency like energy, utilization, operations, and serviceability.GOALTo collect asset information efficiently and accurately in real-time and run analytics to make the right decisions
  • MARKET SIZE
  • The Application Lifecycle Management (ALM) market is expected to grow from USD 2.58 Billion in 2017 to USD 3.63 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. 

    Source: PRNewswire

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