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Research Paper | Industrial Engineering | United States of America | Volume 13 Issue 5, May 2024 | Rating: 5.2 / 10
Optimizing Organizational Efficiency: The Strategic Imperative of Asset Hierarchy Management in Modern Industries
Abstract: Asset Hierarchy Management (AHM) is not just a theoretical concept but a practical tool for optimizing operations in modern businesses, particularly in sectors with intricate infrastructures such as manufacturing, utilities, and healthcare. This research paper explores the significance of AHM in standardizing and enhancing organizational efficiency. It traces AHM's evolution, delineates its benefits, and provides strategies for implementation. By emphasizing the tangible benefits of AHM, the paper aims to instill optimism in the audience about its potential impact. The paper outlines prerequisites and steps for developing a robust asset hierarchy, stressing transparent governance and integration with technology solutions like Enterprise Asset Management (EAM) software. Furthermore, it presents a detailed framework for implementing AHM in manufacturing plants, highlighting the importance of defining clear asset categories, hierarchical levels, and relationships. By adhering to best practices and leveraging advanced tools, organizations can effectively manage assets, drive operational excellence, and achieve sustainable growth.
Keywords: Asset Hierarchy Management, manufacturing, efficiency, maintenance, standardization, implementation, framework, optimization, CMMS
Edition: Volume 13 Issue 5, May 2024,
Pages: 373 - 380