Tuesday, May 17, 2022

Lifecycle management answers you can live with

According to Don Barry, associate partner in global business services in the supply chain operations and asset management solutions with Armonk, New York-based IBM Corp., the ideal time to start considering an asset management program is before the business and its IT infrastructure is even up and running. But the common scenario is corporations will look to asset management after they’ve encountered a problem running the infrastructure.

The drivers are mostly economic, and indicative of current operational issues, said Barry. And, it can also be environmental, “if I’ve got something playing a certain role, how do I continue to expand that role?”

But businesses’ mentality around asset management is evolving. Companies used to consider solely reliability, availability and overall equipment effectiveness in that equation. But now, said Barry, there is recognition of factors like continuing pressures on cost and green technology, for instance.

“It really requires a mature organization to understand what’s going to be needed to assess and execute a lifecycle management strategy,” he said.

Why is a lifecycle management program important?

Elisabeth Vanderveldt, vice-president of business development, with Montr

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