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Asset lifecycle management strategy: What’s the best approach for your business?

IBM Big Data Hub

Here’s what you need to know in order to build a successful strategy. The following are the six stages of asset lifecycle management: Planning: In the first stage of the asset lifecycle, stakeholders assess the need for the asset, its projected value to the organization and its overall cost. What is an asset?

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What is smart transportation?

IBM Big Data Hub

The rise of interconnected technologies like the Internet of Things (IoT), electric vehicles, geolocation and mobile technology have made it possible to orchestrate how people and goods flow from one place to another, especially in densely-packed urban areas. The solution is smart transportation.

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Asset lifecycle management best practices: Building a strategy for success

IBM Big Data Hub

But where do you start and how do you know which ALM strategy is right for you? The maintenance strategies that companies use most frequently are broken down into four stages of the asset lifecycle. At this point, it’s important to weigh the depreciation of the asset against the rising cost of maintaining it.

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Asset management vs. parts inventory management: What’s the difference?

IBM Big Data Hub

When it comes to managing assets throughout their lifecycle, business leaders know they need a comprehensive strategy in place to succeed. But they aren’t always clear on the strategic opportunities around parts inventory management and the role it plays in maintenance strategy.