Navigating supply chain disruption coupled with aging infrastructure, resource shortages, and inventory challenges while simultaneously meeting the ever-evolving customer demands— a typical Tuesday for modern-day businesses, right? The recent global turbulence has forced us to come to terms with the fact that “uncertainty is certain” and is here to stay. Since the world will no longer be linear, organizations must develop resilience to future-proof their supply chains.

To maintain agility, businesses are increasingly integrating operational technology (OT) with IT data. This switch allows them to move from time-based to predictive maintenance, monitoring, and management of assets. But there’s a catch! Data is valuable only if it’s usable. Unfortunately, a significant portion of data—about two-thirds—remains unused due to integration challenges and manual processes. The result? Subpar performance, reliability issues, and unprecedented downtime and defects.

Intelligent Asset Management (IAM) solutions address this challenge by leveraging data and AI to optimize critical asset performance and automate enterprise operations. Here are five compelling reasons why your company should consider adopting intelligent asset management today.

1. Enhancing Competitiveness and Enterprise Connectivity

Enhancing Competitiveness and Enterprise Connectivity

IAM enhances competitiveness by facilitating the deployment of industry best practices, including more sustainable operations. IAM solutions leverage AI, weather data, climate risk analytics, and carbon accounting capabilities, reducing the resources required to manage complex data and allowing organizations to focus on analysis and action.

Plus, IAM also connects the enterprise throughout the supply chain by establishing an integrated operations system — that governs business operations, financials, and production — at all levels, from the C-suite to the frontline. This is crucial for companies dealing with changing economic and regulatory conditions, requiring constant asset monitoring, management, and maintenance improvement while ensuring employee safety.

2. Driving Organizational Growth with IAM

Driving Organizational Growth with IAM

IAM contributes to ROI, driving sustainable growth by enhancing asset availability and reliability.

Let’s take a mining company as an example. They utilize autonomous vehicles for specific tasks. The team can keep tabs on the equipment remotely— even halfway across the globe — to check the proper temperature or oil pressure, thus maintaining optimal asset performance. Additionally, Robots working in underground mines can function continuously with no downtime. This completely mitigates the safety risks associated with hazardous conditions like fire, flood, collapse, or toxic atmospheric contaminants.

3. Enhancing AI Capabilities

Enhancing AI Capabilities

IAM integrates asset data into no-code and low-code for remote asset monitoring, predictive maintenance, and visual inspection. This integration eliminates content silos and provides visibility across the organization, all without the need for data scientists.

Recently, Crave InfoTech assisted a major Biopharma company in transitioning from manual, paper-based maintenance to proactive, reliability-centered maintenance. This transformation enables the Biopharma giant to detect anomalies, monitor equipment health, and predict and prevent failures proactively.

Read the healthcare leader’s plant maintenance automation success story here.

4. Enhancing Business Process Automation

Enhancing Business Process Automation

Intelligent asset management focuses on automating operational processes to streamline asset maintenance and management, reducing bottlenecks and manual work. This leads to improved uptime, productivity, and cost efficiency.

If you’re a plant manager you know the pain of juggling between inflexible work scheduling. Choosing the right person, ensuring they have the right tools for the assignments, and tracking their progress is the most important yet the most daunting part of the job description.

With Planning Workbench, built on SAP BTP, you have a centralized interface for planning all asset management processes. This includes tracking asset health checks, managing production rollouts per machine, and more. By leveraging AI, ML, and IoT, the platform accesses inspection, maintenance, and repair work lists to predict equipment health and potential issues. Now you’ve complete transparency, and real-time asset visibility. So you easily prioritize operations and avoid those last-minute crises.

5. Achieving Digital Maturity

Achieving Digital Maturity

When it comes to modernizing your supply chain, there is no one-size-fits-all answer. It requires a customized approach based on your organization’s digital maturity and specific business goals. Challenges such as smooth migration of legacy data, seamless integration, centralized support for remote work, and managing the asset lifecycle must be addressed. Collaborating with experienced vendors like Crave InfoTech can ensure successful modernization with backward compatibility, seamless integration, and extended capabilities for asset managers.

Empowering Your Supply Chain for Future Success

Given the intricacy of the supply chain and the number of parts involved in keeping things moving, mitigating unexpected crises can be challenging — even for the most well-prepared businesses. However, by taking proactive steps and embracing modernization, we can build a more resilient supply chain that withstands future challenges.

It’s clear that businesses must adapt and modernize to thrive. By addressing key challenges such as asset tracking, compliance, maintenance, data management, and scalability, we can drive efficiency, reduce costs, and maximize the value of our assets. While these strategies are not the only path to future-proofing our supply chain, they are effective tools for mitigating future disruptions.

Take the first step towards a more resilient supply chain. Contact us today to accelerate your journey to future-proofing your Supply Chain.

Achieving Operational Excellence - SAP Intelligent Asset Management, EAM & Incident Management Strategies Unveiled

Join us for our upcoming Crave Webinar: Achieving Operational Excellence – SAP Intelligent Asset Management, EAM & Incident Management Strategies Unveiled, to gain comprehensive insights into future-proofing your supply chain. Don’t miss this opportunity to maintain your competitive edge in the disruptive world of supply chain management. Your success awaits!

Request a Demo of our offerings!

LinkedIn Usergroup invite | Crave Infotech

Leave a Reply

Your email address will not be published. Required fields are marked *