5 Steps to Drive Value through the Asset Lifecycle with Workflow solutions

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How do Integration capabilities of BPM and Advanced Workflow solutions drive value in Asset Lifecycle Management?

Most Industrial assets go through several stages in their lifecycle, right from acquisition till they are retired.

asset-lifecycle-with workflow-solutions

BPM software /Workflow solutions  augments existing technology to enable process execution through every step of the asset lifecycle. The initial process of planning asset acquisition requires defining best criteria for the asset in question. Workflow solutions enables a collaborative process wherein the asset manager can send out this request to all stakeholders to get their inputs and based on these inputs an RFQ can be generated from existing templates.

Acquiring Assets:

The Electronic document management component of BPM and Workflow software is a great fit for processes such as vendor proposal management, as well as criteria definition using web based Forms for electronic workflow routing.

Deploy Assets:

Enterprise mobility with BPM and workflow solutions can be used during installation and commissioning to ensure that all processes and procedures are followed as per requirements. FAT (Factory Acceptance Test) protocol validation and SAT (Site Acceptance Test) protocol validation can be implemented and stakeholders can be updated on the same through various multi-channel communications.

Utilize Assets:

Process automation using BPM software ensures optimal asset utilization as in the case of Fujirebio Diagnostics who used BPM and Workflow solutions to replace an existing paper-based GMP record system and manual process with an electronic monitoring system. The new electronic initiative now saves about 1,100 man hours per year & and has reduced data reviewing time from 15+ hours to just minutes!

Maintain Assets:

This part of the Asset Lifecycle is really where BPM and Workflow solutions drive real value by seamlessly linking with asset management software. KPI based alerts can be triggered to concerned stakeholders in order to conduct preventive maintenance as per regular maintenance requirements of the asset. Even standalone assets not connected to any automation system can be maintained using RFID technology along with handheld devices. BPM would also enable process visibility, accountability and improved compliance at this stage of the asset lifecycle. In the case where asset needs to be sent out for maintenance to the supplier, the maintenance technicians can raise a request and update various stakeholders – security, stores, purchase department, accounts etc. thereby eliminating paper based systems with a more traceable and accountable system.

Retire Assets:

With KPI based alerts, end of life asset notification can be generated and communicated to respective stakeholders so that the particular asset can be updated, procured and installed before the present asset’s lifetime ends. BPM and workflow solutions software would also improve compliance to critical environmental guidelines for proper disposal of scrapped assets mitigating any corporate liability risks.


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