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.
|Title of host publication||Engineering Assets and Public Infrastructures in the Age of Digitalization|
|Subtitle of host publication||Proceedings of the 13th World Congress on Engineering Asset Management|
|Publication status||Accepted/In press - 25 Sep 2018|
|MoE publication type||A4 Article in a conference publication|
|Event||13th World Congress on Engineering Asset Management, WCEAM 2018 - Stavanger, Norway|
Duration: 24 Sep 2018 → 26 Sep 2018
|Conference||13th World Congress on Engineering Asset Management, WCEAM 2018|
|Abbreviated title||WCEAM 2018|
|Period||24/09/18 → 26/09/18|
- Asset management
- Circular economy
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.