Active Asset Management: Transforming for the 4th Industrial Revolution

What is Active Asset Management?

It is an approach that actively analyzes, targets, and makes improvements to the speed and competitiveness of asset-intensive enterprise processes in engineering and manufacturing.  It is an approach that aligns the action and urgency of every team member with the ultimate objective of their customer: to win the race! The race is getting products to market faster and products through manufacturing and converted to revenue and cash faster.

The Active Asset Management approach is aimed at producing a resilient network-of-capabilities that will…

• Be available for use when needed
• Ensure the best fit technology for the situation
• Produce the lowest total cost solution

Asset management teams that use an active approach manage the fast-changing demands brought on by the speed of the 4th Industrial Revolution and help their engineering and manufacturing customers cope with these changes by:

• Helping increase their customer’s speed by 25% to 50%
• Improving their responsiveness by 85%
• Reducing Asset Related Costs by 35% to 75%

This enables the customers of Asset Management teams to take the resources freed up by the team and invest them in new capabilities and growth.  One customer cut their asset base in half while doubling their business!

Why is This Approach Necessary?

Every function in business today has to learn to operate differently to be competitive.  Companies are undergoing large transformation efforts to remain competitive with the new competitive situations — threats, obligations, and opportunities — brought on by the 4th Industrial Revolution.  Asset Management teams are no different.  Like everyone else, they have to change from the mindsets and behaviors of the last industrial revolution that reinforced silos and had people operating as a “cog in a wheel” focused on procedures instead of outcomes. It is necessary to change because as executives across industry tell me, “No one wants to become the next defunct movie rental company.”

Our software tools enable the change in mindset required by your teams as, in addition to managing technical concerns, the software helps to execute our culture/behavior change algorithm written about in “Are Your Teams Designed for Speed?” and “Are Your Support Organizations Operating with a DMV Mindset?”

We are Uniquely Capable of Helping Asset Management Teams!

We invented this approach for the purposes called out earlier in the post:  speed and cost-competitiveness.  We’ve used the approach to drive over 50% reductions in cost and over 25% improvements to cycle time. 

We’ve helped many asset management teams achieve enterprise-level recognition in multiple different companies and, as a result, been recognized more broadly by industry.

Finally, our customers pay real money to us and they have to know they are getting a satisfactory return.  Our results are real, measurable and sustainable. We produce superior returns, always over 200% ROI but reaching as high as 2200% in our history. Our approach is why market research firm Frost and Sullivan have given our solutions high marks for “Customer Value Leadership“.

Our Scireo Software Has been Designed to Support an Active Approach

Common Enterprise Asset Management Solutions are vestiges of the last industrial revolution.  They don’t take full advantage of today’s computer capabilities.

• They don’t manage knowledge effectively by inventing, accumulating and “Embedding Knowledge” to drive speed and cost-effectiveness
• They are incapable of showing the assets in a “Whole System” context of changing schedules, technical requirements, and risks
• They don’t support the cultural approach required for “Performance Acceleration” of time-to-market and costs

Scireo has built-in Asset Optimizers and Process Accelerators

While we have all the capabilities of common Enterprise Asset Management solutions, we also have capabilities that enable our solution to support speed and competitiveness in the 4th Industrial Revolution.

AccessTRM, our asset optimization engine, enables the reduction of obsolescence risks in your inventory of equipment, improves searching and availability management to ensure you have access to the equipment you need when you need them, that their utilization increases, costs drop and customers remain completely satisfied with improvements to operational, technical and financial metrics.

CoordinateTRM, our process accelerator engine, ensures effective coordination of all support activities and all planned uses associated with the assets in the context of changing schedules, demands and priorities.

Scireo can Accelerate Your Results by Sharing Data with your Already Existing Asset Systems

Our customers need to move past the performance enabled by common systems but sometimes those systems are necessary to take care of very specific issues and incurring the cost of disrupting operations in places where those systems are producing satisfactory results, like many property management systems, is not worth it.  Our approach historically has been to share data between systems.  Scireo data shared with common EAM or Property Management systems can often increase the performance of those systems.