An asset lifecycle is the series of stages involved in the management of an asset. It starts with the planning stages when the need for an asset is identified and continues all the way through its useful life and eventual disposal. The basic premise of asset lifecycle management is to extend your assets’ usability as far as you can, without losing any functionality, thereby decreasing total lifetime costs and increasing the economic value-add of the asset. For example, when maintenance is neglected, companies have to struggle with the resulting unexpected breakdowns, long delays, and costly emergency maintenance. Proper asset lifecycle management can improve the process of maintaining and managing valuable assets.
Coco Cola Swaziland, South Africa would like to find a solution that would enable the following results: - Reduce energy consumption by 20% in one year. - Formulate a series of strategic initiatives that would enlist the commitment of corporate management and create employee awareness while helping meet departmental targets and investing in tools that assist with energy management. - Formulate a series of tactical initiatives that would optimize energy usage on the shop floor. These would include charging forklifts and running cold rooms only during off-peak periods, running the dust extractors only during working hours and basing lights and air-conditioning on someone’s presence. - Increase visibility into the factory and other processes. - Enable limited, non-intrusive control functions for certain processes.
Hospitals are under enormous pressure to keep their costs down and improve the bottom line. They’re looking for ways to achieve greater operating efficiency to reduce costs. And new revenue opportunities are also needed to boost income. Patient satisfaction is also important, helping ensure that their beds stay full.With healthcare costs rising rapidly, hospitals are being asked to deliver an even higher quality of patient care at a lower price. They are also expected to do this profitably, with a strong bottom line that benefits shareholders. At the same time, hospital patients expect an in-hospital experience that’s much like a hotel stay. They expect all the conveniences of home with on-demand services that fit their situation. Among these is a demand for multimedia and Internet access – services that hospitals have so-far been unable to prescribe cost effectively. Patients also want their visitors and loved ones to feel equally cared for – expectations that increasingly add to a hospital’s costs rather than lower them.
The Application Lifecycle Management (ALM) market is expected to grow from USD 2.58 Billion in 2017 to USD 3.63 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period.