Towards an Asset Performance Management Reference Framework for Distributed Industrial Machinery

Abstract

In a complex and technology-driven business environment, managing the performance of distributed industrial machinery is crucial for operational efficiency and business viability. This paper presents an approach to developing an Asset Performance Management (APM) reference framework that addresses the unique challenges of distributed machinery, including the need for high quality data, trust issues with third party involvement, and the integration of IoT for optimal asset performance. The design requirements for the artifact were derived from the literature and verified and developed through expert interviews. The development of the framework aims to provide a structured approach to improving APM practices, reducing downtime, and boosting machinery performance. This offers businesses a competitive advantage and contributes to both practical and scientific fields. The reference framework could facilitate better decision-making and resource allocation, especially in handling geographic and maintenance complexities and navigating data management challenges. This research represents an advancement in the field of APM for distributed industrial machinery by addressing current challenges and proposing potential solutions. It paves the way for future research and industrial applications.