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Build tomorrow’s predictive enterprise today

01

6 min read

What is intelligent asset management?

Put data and AI to work across your enterprise operations.

Today’s technology infrastructures weren’t designed for cross-organizational efficiency. Because of this issue, most organizations struggle with how to maximize their critical assets’ value throughout their lifecycle. But you can only manage what you can measure—and that means data is now the single most important resource available to you. With profitability, efficiency and customer loyalty at stake, as well as environmental, social and governance (ESG) goals to be met, data can make or break your competitive advantage.

No matter what sector your operations serve, whether it’s automotive, medical facilities (2:30), civil infrastructure (02:29) or other industries, the core challenge is the same: you need to monitor and measure how asset performance affects business before defects and anomalies cause problems, and manage responses accordingly. And the only way to determine asset performance is to have a clear view of the data it generates.

Every aspect of your operations, including all your critical assets and resources, has the potential to be connected, monitored, managed and optimized using technology.

With data confined in silos and complex systems running critical infrastructures, it’s no surprise that while the volume of data has never been greater, the value of data hasn’t been maximized.

Every aspect of your operations, including all your critical assets and resources, has the potential to be connected, monitored, managed and optimized using technology. And with the pressing focus on running a sustainable business, the ability to confidently capture, document, manage and disclose ESG data to stakeholders must come within reach quickly.

That’s where intelligent asset management (IAM) comes in. IAM puts data and AI to work to optimize critical asset performance and automate enterprise operations. By harnessing the power of data and AI, you can more easily monitor, predict and increase asset reliability through self-optimizing operations.

Plus, successful ESG goals rely on disciplined data management. This process, in turn, requires a single system of record management.

It all sets the foundation for applying actionable insights so that you can increase efficiency, extend asset lifecycles, and reduce downtime and costs—all while building resiliency and sustainability into your business.

IAM provides the foundation for you to measure, manage, monitor and maintain your assets and operational strategy. It can apply to physical assets, facilities, people and products. IAM becomes your platform for optimal collaboration, integration and analytical insights.

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Build sustainability and resiliency into your business

Traditionally, unlocking the answers you needed to build agility and resiliency throughout your business required access to mountains of disparate data, along with the technology and acumen to extract actionable insights.

But with an IAM approach, you can tame the chaos by providing your team access to data, workflows and insights that they can use to make smarter decisions with the help of AI.

According to the new CIO study1 from IBM, plans are in place for more data-intensive investments over the next three years like AI, IoT, edge and automation. This data is needed for insights to transform business, but with such a large volume of data, these insights often remain hidden. Decoding data is paramount.

If you don’t have a system established to capitalize on operational data, you’ll find that maintenance operations are inefficient and production processes are poor.

Instead of being focused on stabilizing operational downtime and defects, you can use IAM to get the data that will help you determine the root causes.

This method will turn your operations from a reactive, break/fix model into a proactive predict, address and avoid downtime model.

And with that level of control, you’ll save time, cut costs and optimize performance.

02

5 min read

Monitor and measure your operations

Intelligent asset management works by bringing together the data that’s generated by your assets with the control systems and sensors within your operating environment.

Together, it provides you with the ability to monitor and measure your operations.

Enterprises need a 360-degree operational view, 365 days a year. To help better monitor and measure operations, IAM consolidates internal and external data, combining it with real-time control system, weather and sensor data to deliver predictive operating awareness.

It allows you to optimize asset monitoring and measurement strategies with AI-powered remote asset monitoring to spot data anomalies and ensure a focus on meaningful alerts and triggers, including cues that are imperceptible to operators. It can help you steer clear of downtime by applying predictive maintenance diagnostics—like asset criticality—to these data streams to help optimize maintenance budgets with the right response at the right time.

And because some of the root causes of issues are tied to factors that exist outside of the organization, intelligent asset management provides rich integration capabilities on a hybrid cloud infrastructure. Leveraging a Hybrid Cloud infrastructure allows organizations to build and run their apps securely anywhere, including mobile. This provides flexibility to implement new automation capabilities and integrate data services quickly so you can augment your data with valuable insights from weather, financial markets, ERP systems, 3rd party providers and more. Not only does this make your data more productive, but access to diverse data that can be combined and analyzed quickly allows you to become more predictive. So when weather events and other extraneous situations occur, you can plan ahead for these scenarios, even automating workflows.

Increasingly, today’s operational decisions must account for new levels of resilience and agility, rooted in responsible practices that preserve our planet for future generations. Intelligent asset management sets the stage so that you can gather any ESG data you may need to measure your impact and report accurately on your assets and operations.

One of the most inefficient methods of managing asset maintenance—which is fairly common across almost all organizations—is the duplication of systems that are tasked with capturing work requests and scheduling maintenance. This method results in a web of fragile integrations or paper trails that don’t optimize your return on assets.

In contrast, integrated systems support everything from routine cleaning and maintenance of corporate facilities to industrial equipment. They allow teams to optimize resource productivity, cross-train employees and have a source of truth to the cost and benefits of every asset.

IAM consolidates your data and combines it with control systems and sensors to deliver predictive operating awareness.

With IAM, you can optimize your asset monitoring and measurement strategies with AI-powered remote asset monitoring to instrument your operations and ensure that the right alerts and triggers are set.

This focus on anomalies in your operational data allows your team to concentrate on executing their work knowing that issues will be analyzed, prioritized and communicated to reduce impending critical issues. This feature also allows for easier analysis of failures and determination of root causes—often by identifying almost imperceptible changes in the operating state of your assets.

 

03

5 min read

Manage assets, infrastructure and resources

With intelligent asset management, you focus on optimizing and prioritizing activities, resources, schedules and skills.

IAM provides the foundation to extend asset lifespans, drive productivity, monitor asset performance and reduce unplanned downtime, even in the most complicated and demanding environments. To achieve that goal, you need to consolidate your data, streamline reporting, identify efficiency opportunities and discover where to focus your investments.

Managing assets, infrastructure and resources is complicated. Your organization may have multiple management systems and data strategies associated across asset classes and resources. Leading firms typically identify a single approach that integrates a data model and workflows with their enterprise systems to optimize uptime, output and costs across all assets.

By creating a single repository where resources, skills, schedules, asset histories, job plans, manuals, logs and analytics can exist as an integrated data-model, you’ve set the stage for automation. This can help maintenance leaders and planners to drive workforce utilization and supply them with the right information they need to tackle their day-to-day activities. When unexpected incidents occur, they’ll have access to preventive tools that can reduce the probability of downtime or defects occurring.

And because all industries have similar characteristics, but are far from the same, leaders often use best-practice workflows and data models that can help them manage industry-specific nuances (like job estimation, location, and resource allocation, warranty data, lease management and more). These methods can help you further optimize your asset management strategies and get operations data under control, whether it be end-to-end integrated workplace management or enterprise asset management systems.

With an IAM solution for workplace management, you can reduce your overall real estate costs and maintain a healthy and sustainable business by rightsizing your real estate portfolio and increasing efficiency of lease administration and accounting, capital projects and maintenance efforts.

When it comes to managing leases across your real estate and asset portfolios, The IBM® TRIRIGA® workplace management solution has helped countless businesses conform to lease accounting standards, ensure accurate financial reporting, adhere to lease requirements and manage payments.

Get tools to help you quickly and easily identify priorities, plan, secure budget, select vendors and manage contracts.

With real estate representing one of the highest asset expenses for most organizations, it’s important to manage buildings in a way that encourages the same efficiencies you would use in a production environment. IBM can help you optimize the use of space, save on costs and offer a better occupant experience—without sacrificing simplicity, speed or resilience.

The IBM TRIRIGA workplace management solution provides real-time insights infused with AI to support dynamic space planning. For example, comprehensive reservation tools allow employees to reserve flexible space and ensure that the space has everything it needs when it’s needed.

In addition, the TRIRIGA solution helps you better understand the condition of your buildings, and the assets within, so you can optimize repairs and maintenance projects accordingly.

 

04

5 min read

Improve product and service quality

Use next-generation technologies to optimize products and services, increasing customer satisfaction and reducing costs.

Operations run in tightly controlled environments designed to maximize efficiencies. When a defect happens in a product or service, it’s not always easy to catch the problem before it moves onto the next process, or a defective part means you’ve lost a customer.

With an IAM system, you can rely on the combined benefits of vision inspection and AI to identify anomalies during production processes. These capabilities allow you to act immediately on any variance so that the product doesn’t continue along the production line or an improperly installed part causes wider problems.

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Identifying and averting problem products can:

  • Increase customer satisfaction by avoiding imperfect products from entering the market.
  • Limit downtime by alerting technicians to divert failed items out of the production line to avoid rework.
  • Save time and money by identifying which systems are causing problematic errors.
  • Enhance customer and employee engagement to drive productivity.

In some cases, IAM has saved millions of dollars over the course of a year.

Using an integrated system of IAM, all the assets in your organization can be monitored continuously within a single system. The system can identify a problem with one of the assets and send a service request to a service analyst. With a single click, the service analyst can drill down to into the details, see that the issue requires an onsite inspection of the asset and quickly create a work order to dispatch a trained technician.

The technician can use a mobile device to review the work order, asset history, plan for remediation, and technical documentation before getting to work on the problem.

Descriptive AI assistance can analyze thousands of documents to deploy the fix with the highest success probability. And if more advanced technical help is needed, a video of the problem can be shot and sent to the next service-level technician who can review and recommend a fix.

All these actions are recorded in the asset’s maintenance history, providing a complete repair record to refer to for the next incident. This data can be used by other technicians and AI systems that gather performance data.

With this level of asset monitoring, IAM can decrease administrative costs, improve service and offer greater visibility into asset utilization, costs and maintenance.

Imagine that your company is in charge of infrastructure maintenance for a hydroelectric dam. Thousands of data points are available about the physical, chemical, weather-related and operational wear happening 24 hours a day to the dam.

Using drones with onboard cameras, instead of asking a technician to scale a 700-foot dam face to conduct a routine inspection, you can capture visual data remotely and report it back to central operations. As the data is captured, it’s cataloged.

From there, the effects of external elements on the dam are stored so that a virtual eye is kept on issues that warrant monitoring. It’s safer and more efficient than sending people to visually inspect for wear.

Using AI, an IAM system can predictively identify, alert and troubleshoot potential problems. The measurements taken can help you schedule follow-up actions needed to keep the dam in good repair.

05

5 min read

Enable sustainable operations

Organizations face climate-related damage to their assets, disruptions to supply chains and operations, and expectations to perform as an environmental steward of the resources they manage.

Extreme weather, climate action failure and human-led environmental damage were cited as the top three most likely risks for businesses over the next ten years in the World Economic Forum’s “Global Risks Report 2021.”2

But it’s not easy to access actionable environmental insights. It’s often cumbersome and complex—requiring intensive manual labor, climate and data science skills, and computing power.

The IBM Environmental Intelligence Suite is an AI-powered SaaS solution that provides organizations with timely and fact-based actionable intelligence to proactively plan and manage the economic impact of severe weather and climate change events; built on the world’s most accurate weather data.

  • Monitor for disruptive environmental conditions, such as severe weather, wildfires, flooding and air quality, and send alerts when detected.
  • Predict potential impacts of climate change and weather across the business using climate risk analytics.
  • Gain insights into potential operational disruptions and prioritize mitigation and response efforts.

By empowering IAM with climate, weather and environmental insights, you can help streamline and automate the management of environmental risks and operationalize underlying processes, including carbon accounting and reduction. This helps to reduce environmental impact and achieve operational resiliency in the face of climate change.

Financial-grade ESG reporting

Organizations are recognizing the value of operating in a more sustainable and socially responsible manner. However, even as they work to deliver on sustainability commitments, they face mounting pressure from regulators, investors and consumers to demonstrate progress in a verifiable way. Building a sustainable business and ensuring proper management of environmental, social and governance (ESG) indicators have never been more important or challenging.

With leading IAM systems designed specifically for ESG reporting, such as IBM® Envizi Sustainability Performance Management, you can automate the collection and consolidation of more than 500 data types and find support for major, internationally recognized ESG reporting frameworks. With powerful visualizations and easily customizable dashboards, it enables you to manage environmental goals, identify efficiency opportunities and assess sustainability risks.

The IBM Envizi Sustainability Performance Management can help you:

  • Get a single system of record that delivers auditable, finance-grade ESG and sustainability data.
  • Streamline ESG reporting to meet internal and external ESG and sustainability reporting requirements.
  • Integrate internal and external stakeholders, process and technology to embed sustainability into daily operations.
  • Unlock insights to inform the fastest and most cost-effective pathway to decarbonization.

With over a decade of Gartner Magic Quadrant leadership, IBM® Maximo® software provides one of the most trusted enterprise asset management solutions on the planet. Using weather and geospatial data from the IBM Environmental Intelligence Suite, along with the IBM® TRIRIGA® integrated workplace management system (IWMA), IBM has the capabilities you need to deliver the sustainable operations required for today’s market leadership. With an open platform and an extensive partner ecosystem across industries, IBM puts data and AI to work for you.

2 Global Risks Report 2021, World Economic Forum, 19 January 2021.

Next steps

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Read the IAM solution brief

Uncover the benefits your organization could achieve using an intelligent, holistic approach to resource and asset management.

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