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The strategic role of Engineering Asset Management

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  • El-Akruti, Khaled
  • Dwight, Richard
  • Zhang, Tieling

Abstract

The current concept of an asset management (AM) system focuses on the lifecycle of engineered assets and little has been done in the literature on its link to organizational strategy. In this paper, the AM system′s position within an organizational structure and its role in competitive strategy has been explored. Two case studies involving AM have been analyzed using a proposed framework which is comprised of a set of planning and control activities maintaining a control mechanism and a relationship with the strategy-making process. It is argued that the AM system structure and the mechanism play a key role in the organizational strategy. The existence of the AM system is hypothesized by this framework which stipulates the asset performance required for strategic success. The use of this framework allows for conclusions to be drawn on the requirements for building an effective connection between AM activities and strategy development. This connection is achieved through planning and control mechanisms acting on the asset-related activities. On one hand, the effect of inadequate or missing elements of the framework has been shown to result in negative impacts on cost, productivity, quality, business outcomes and ultimately strategy achievement. On the other hand, the existence of elements of this framework has been shown to have positive impacts on strategy achievement.

Suggested Citation

  • El-Akruti, Khaled & Dwight, Richard & Zhang, Tieling, 2013. "The strategic role of Engineering Asset Management," International Journal of Production Economics, Elsevier, vol. 146(1), pages 227-239.
    • Handle: RePEc:eee:proeco:v:146:y:2013:i:1:p:227-239
    DOI: 10.1016/j.ijpe.2013.07.002
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    References listed on IDEAS

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    1. Pinjala, Srinivas Kumar & Pintelon, Liliane & Vereecke, Ann, 2006. "An empirical investigation on the relationship between business and maintenance strategies," International Journal of Production Economics, Elsevier, vol. 104(1), pages 214-229, November.
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    Cited by:

    1. Irene Roda & Marco Macchi, 2018. "A framework to embed Asset Management in production companies," Journal of Risk and Reliability, , vol. 232(4), pages 368-378, August.
    2. Liu, Xinyang & Zheng, Zhuoyuan & Büyüktahtakın, İ. Esra & Zhou, Zhi & Wang, Pingfeng, 2021. "Battery asset management with cycle life prognosis," Reliability Engineering and System Safety, Elsevier, vol. 216(C).
    3. Sachini Weerasekara & Zhenyuan Lu & Burcu Ozek & Jacqueline Isaacs & Sagar Kamarthi, 2022. "Trends in Adopting Industry 4.0 for Asset Life Cycle Management for Sustainability: A Keyword Co-Occurrence Network Review and Analysis," Sustainability, MDPI, vol. 14(19), pages 1-15, September.
    4. Elizaveta Gavrikova & Irina Volkova & Yegor Burda, 2020. "Strategic Aspects of Asset Management: An Overview of Current Research," Sustainability, MDPI, vol. 12(15), pages 1-31, July.
    5. Damjan Maletič & Matjaž Maletič & Basim Al-Najjar & Boštjan Gomišček, 2020. "An Analysis of Physical Asset Management Core Practices and Their Influence on Operational Performance," Sustainability, MDPI, vol. 12(21), pages 1-20, October.
    6. Lima, Eliana Sangreman & McMahon, Paul & Costa, Ana Paula Cabral Seixas, 2021. "Establishing the relationship between asset management and business performance," International Journal of Production Economics, Elsevier, vol. 232(C).

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