A Strategic Asset Management Model: Determination of Corporate Strategy for Physical Assets

Kari Komonen, Tiina Koppinen, Helena Kortelainen

    Research output: Contribution to conferenceConference articleScientificpeer-review

    Abstract

    Companies have begun to recognize the untapped strategic potential of their physical assets as far as the competitiveness, flexibility, productivity and strategic risks of the enterprises are concerned. The corporate level Asset Management is clearly strategic in nature and focuses on the long term perspective. Corporate asset strategy is based on corporate business objectives and three main analyses: company, market and technology. These analyses help to determine the future requirements for physical assets. The tool introduced in this paper utilises both quantitative and qualitative data in order to determine requirements in relation to the assets' capability, capacity, flexibility and effectiveness. Once the requirements are compared to the existing assets and their performance potential, a future action plan may be developed as the basis for the corporate level asset strategy taking into account various asset management options available. Corporate Asset Strategy has a direct influence on the maintenance strategy of various plants.
    Original languageEnglish
    Number of pages12
    Publication statusPublished - 2008
    MoE publication typeNot Eligible
    EventEuromaintenance 2008
    : Conference on asset management & production reliability
    - Brussels, Belgium
    Duration: 8 Apr 200810 Apr 2008

    Conference

    ConferenceEuromaintenance 2008
    CountryBelgium
    CityBrussels
    Period8/04/0810/04/08

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    Keywords

    • strategy
    • asset management
    • maintenance management
    • critical success factors

    Cite this

    Komonen, K., Koppinen, T., & Kortelainen, H. (2008). A Strategic Asset Management Model: Determination of Corporate Strategy for Physical Assets. Paper presented at Euromaintenance 2008
    , Brussels, Belgium.