This week, Greg Goodwin of LNS research is counting down the top 5 asset performance trends in the manufacturing sector. To see each day’s newest trend, tune in to IMPO’s second shift.
5.) Asset Performance Management and Operational Excellence will become inextricable
Over time, organizations have grasped that success in functional areas of the enterprise, like Environment, Health & Safety (EHS), Manufacturing Operations Management (MOM), and Asset Performance Management (APM) is all linked in several ways.
Technology, in the form of Big Data analytics, the Internet of Things, and the Cloud, has played a big role in integrating these business areas by showing how their efforts interrelate with one another, and drive toward Operational Excellence.
Within the production of goods or delivery of service, most companies have yet to achieve or even pursue the full value potential of an optimized APM programs. As the emergent tech trends mature in the marketplace, APM strategies will be increasingly tied to Operational Excellence goals, in some cases eventually being seen as synonymous efforts. Take a brief APM survey from LNS Research to find out much more about linking the two in the Asset Performance Management Best Practices Guide.