Impact of circular economy on asset management – lifecycle management perspective

    Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

    Abstract

    Sustainability of assets and processes is a major strategic focus area for many companies. To achieve the strategic goals of sustainability, several companies have begun to discuss how their businesses are supporting circular economy. Digital technologies and data are considered key enablers of circular economy. Circular economy solutions include e.g. minimizing the use of resources, closing re-source loops and improving durability and lifetimes of assets. This paper discusses the impact of circular economy on asset management. The focus is especially on the different representations of lifecycles in production systems. We discuss the challenges and opportunities related to generic, circular and hierarchic production system lifecycles. We present main points to be considered when developing circular economy solutions from the perspective of asset and lifecycle management.
    Original languageEnglish
    Title of host publicationEngineering Assets and Public Infrastructures in the Age of Digitalization
    Subtitle of host publicationProceedings of the 13th World Congress on Engineering Asset Management
    PublisherSpringer
    ISBN (Electronic)978-3-030-48021-9
    Publication statusAccepted/In press - 25 Sep 2018
    MoE publication typeA4 Article in a conference publication
    Event13th World Congress on Engineering Asset Management, WCEAM 2018 - Stavanger, Norway
    Duration: 24 Sep 201826 Sep 2018

    Conference

    Conference13th World Congress on Engineering Asset Management, WCEAM 2018
    Abbreviated titleWCEAM 2018
    CountryNorway
    CityStavanger
    Period24/09/1826/09/18

    Keywords

    • Asset management
    • Circular economy

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  • Cite this

    Hanski, J., & Valkokari, P. (Accepted/In press). Impact of circular economy on asset management – lifecycle management perspective. In Engineering Assets and Public Infrastructures in the Age of Digitalization: Proceedings of the 13th World Congress on Engineering Asset Management Springer.