Today’s asset intensive customers have become increasingly more demanding to decrease the total lifetime costs of equipment forcing many companies to focus on overall operational excellence aligned with more prominent ISO 55000. Consequence of that they are seeking more effective ways of partnering and collaborating with business partners across the entire asset lifecycle to better serve their objectives. Many heavy asset companies still rely on costly paper-based processes and point-to-point methods to connect their customers, suppliers, manufacturers, distributors, and service providers. These are largely linear, one-to-one connections create siloed systems that limit visibility, restrict inter-company data exchange undermining process efficiency and collaboration across many capabilities and business processes.
Connecting an organization’s asset stakeholders through a unified network breaks down the barriers of siloed systems, opens opportunities for better ways to work together and at the end helps to achieve better operational efficiency and effectiveness. It streamlines collaborative processes overcoming the challenges of disconnected data and fragmented business processes, driving scalability across the global supply chain.
Business network for asset management tackles the challenges above by delivering a business platform for connecting different asset stakeholders such as OEMs, component suppliers, asset operators and service providers to better run common business processes based on a single digital twin across the asset maintenance cycle. This helps asset intensive organizations to overcome the challenges of disconnected systems, fragmented business processes and intercompany siloed asset data driving inefficiencies and costly resource capacity across the global supply chain.
On another side, Industry 4.0, or the fourth industrial revolution, brought smart technologies of real time data insights, cloud connectivity and artificial intelligence to the industry and manufacturing ecosystem, opening an opportunity to the next generation of aftermarket services companies. A unified business platform for asset stakeholders helps to accomplish such trend by leveraging the single digital twin and new edge technologies with a connected business partner asset ecosystem. Producing quality products is still critical, but now it is just one piece of the puzzle. Today’s customers expect great outcomes, which are a combination of good experiences and exceptional service that accompany quality products – personalized to their which is a key differentiator in industrial manufacturing these days. The insights gained from servicing equipment in the field can be used to enhance service precision leading to more reliable and competitive products and services contributing not only to commercial stability but also a long-term customer satisfaction between OEMs or service providers and asset operators.
To learn more about SAP Business Network Asset Collaboration, visit us online.
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