How are you making yours?
The pressure on power and utility companies to deliver greater efficiency and operational effectiveness is greater than ever. In efforts to contain costs over the past decade, the industry has deferred critical capital investments. Smart asset management is becoming increasingly important, especially at a time when a lot of infrastructure needs to be built.
Developing new infrastructure has to run alongside the challenge of getting the most out of aging assets. Mature systems and software often add to the task. Maximizing the value of both the new and the old is the name of the game. Companies need to balance cost effectiveness versus risk while developing regional and global structures. Sourcing, procurement and inventory management have to be of the highest order.
By developing an asset management strategy, power companies will proactively align their organization with their overall business objectives. Taking this approach means that capital spend of assets and improvement projects, business change and management of external and internal issues is addressed from a single asset management plan.