A technologically-driven asset management approach to managing physical assets - a literature review and research agenda for smart asset management

Nel, Charles Benjamin Hirschowitz ; Jooste, Wyhan J. L. (2016)

CITATION: Nel, C. B. H. & Jooste, W. J. L. 2016. A technologically-driven asset management approach to managing physical assets - a literature review and research agenda for smart asset management. South African Journal of Industrial Engineering, 27(3):50-65, doi:10.7166/27-4-1478.

The original publication is available at http://sajie.journals.ac.za

Article

ENGLISH ABSTRACT: The concept of ‘smart’ is increasingly used in the commercial environment, and relates to a perception of technological intelligence. The concept of ‘Internet of Things’ (IoT) has also become a reality that makes a different approach to managing physical assets necessary. With this technological intelligence come vast quantities of asset data and the analysis thereof, which has proven to add value to asset management. To capitalise on and expand this value creation, smart asset management (SAM) came into being by incorporating proven methodologies and applying these in real-time management structures. This article offers a review of the existing literature, and aims to create industry awareness about the business potential of incorporating SAM into automated asset environments for strategic management decision-making.

AFRIKAANSE OPSOMMING: Die uitdrukking ‘slim’, wat met die persepsie van tegnologiese intelligensie verband hou, is ’n konsep wat toenemend binne die kommersiële omgewing gebruik word. Die ‘IoT’ (“Internet of Things”) konsep dra verder by tot die behoefte aan verskillende benaderings tot batebestuur. Meer waarde word aan batebestuur geheg as gevolg van hierdie tegnologiese intelligensie wat binne batebestuur analise toegepas word. Vanuit hierdie agtergrond is ‘slim batebestuur’ ontwikkel. Dit is ’n nuwe benadering wat bestaande metodes inkorporeer en terselfdertyd binne eietydse bestuurstrukture toegepas word. Hierdie artikel gee ’n oorsig van die slim batebestuur literatuur, en poog om uit te brei op die voordele van slim batebestuur binne geoutomatiseerde bate-omgewings met die doel om strategiese bestuursbesluite te neem.

Please refer to this item in SUNScholar by using the following persistent URL: http://hdl.handle.net/10019.1/99982
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