The goal of industrial asset management, or IAM, is to maximize the value of a company's assets. An effective IAM solution can make the business more efficient, reduce downtime and improve service delivery. And yet, for many companies, the current IAM operating model just isn't cutting it. For original equipment manufacturers or OEMs in particular, the IAM function leaves a great deal of unrealized potential on the table – in some instances, up to 20 percent service cost reduction, 15 percent revenue enhancement, and 15 percent asset up-time improvement.
Product lifecycle management (PLM) is a key lever of profitable growth for organizations that introduce highly engineered, function-rich products. Such products, exemplified by the iPhone, are characterized by complex design engineering and extended supply chains.