Impact of circular economy on asset management: lifecycle management perspective

Jyri Hanski; Pasi Valkokari

doi:10.1007/978-3-030-48021-9_18

Impact of circular economy on asset management: lifecycle management perspective

^*Corresponding author for this work

BA5501 Industrial circular economy

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

1 Citation (Scopus)

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 language	English
Title of host publication	Engineering Assets and Public Infrastructures in the Age of Digitalization - Proceedings of the 13th World Congress on Engineering Asset Management, WCEAM 2018
Subtitle of host publication	Proceedings of the 13th World Congress on Engineering Asset Management
Editors	Jayantha P. Liyanage, Joe Amadi-Echendu, Joseph Mathew
Publisher	Springer
Pages	156-163
ISBN (Electronic)	978-3-030-48021-9
ISBN (Print)	978-3-030-48020-2
DOIs	https://doi.org/10.1007/978-3-030-48021-9_18
Publication status	Published - 18 Aug 2020
MoE publication type	A4 Article in a conference publication
Event	13th World Congress on Engineering Asset Management, WCEAM 2018 - Stavanger, Norway Duration: 24 Sept 2018 → 26 Sept 2018

Conference

Conference	13th World Congress on Engineering Asset Management, WCEAM 2018
Abbreviated title	WCEAM 2018
Country/Territory	Norway
City	Stavanger
Period	24/09/18 → 26/09/18

Keywords

Asset management
Circular economy

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10.1007/978-3-030-48021-9_18

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Hanski, J., & Valkokari, P. (2020). Impact of circular economy on asset management: lifecycle management perspective. In J. P. Liyanage, J. Amadi-Echendu, & J. Mathew (Eds.), Engineering Assets and Public Infrastructures in the Age of Digitalization - Proceedings of the 13th World Congress on Engineering Asset Management, WCEAM 2018: Proceedings of the 13th World Congress on Engineering Asset Management (pp. 156-163). Springer. https://doi.org/10.1007/978-3-030-48021-9_18

Hanski, Jyri ; Valkokari, Pasi. / Impact of circular economy on asset management : lifecycle management perspective. Engineering Assets and Public Infrastructures in the Age of Digitalization - Proceedings of the 13th World Congress on Engineering Asset Management, WCEAM 2018: Proceedings of the 13th World Congress on Engineering Asset Management. editor / Jayantha P. Liyanage ; Joe Amadi-Echendu ; Joseph Mathew. Springer, 2020. pp. 156-163

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Hanski, J & Valkokari, P 2020, Impact of circular economy on asset management: lifecycle management perspective. in JP Liyanage, J Amadi-Echendu & J Mathew (eds), Engineering Assets and Public Infrastructures in the Age of Digitalization - Proceedings of the 13th World Congress on Engineering Asset Management, WCEAM 2018: Proceedings of the 13th World Congress on Engineering Asset Management. Springer, pp. 156-163, 13th World Congress on Engineering Asset Management, WCEAM 2018, Stavanger, Norway, 24/09/18. https://doi.org/10.1007/978-3-030-48021-9_18

Impact of circular economy on asset management: lifecycle management perspective. / Hanski, Jyri ; Valkokari, Pasi.
Engineering Assets and Public Infrastructures in the Age of Digitalization - Proceedings of the 13th World Congress on Engineering Asset Management, WCEAM 2018: Proceedings of the 13th World Congress on Engineering Asset Management. ed. / Jayantha P. Liyanage; Joe Amadi-Echendu; Joseph Mathew. Springer, 2020. p. 156-163.

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

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T1 - Impact of circular economy on asset management

T2 - 13th World Congress on Engineering Asset Management, WCEAM 2018

AU - Hanski, Jyri

AU - Valkokari, Pasi

PY - 2020/8/18

Y1 - 2020/8/18

N2 - 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.

AB - 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.

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KW - Circular economy

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BT - Engineering Assets and Public Infrastructures in the Age of Digitalization - Proceedings of the 13th World Congress on Engineering Asset Management, WCEAM 2018

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Hanski J , Valkokari P. Impact of circular economy on asset management: lifecycle management perspective. In Liyanage JP, Amadi-Echendu J, Mathew J, editors, Engineering Assets and Public Infrastructures in the Age of Digitalization - Proceedings of the 13th World Congress on Engineering Asset Management, WCEAM 2018: Proceedings of the 13th World Congress on Engineering Asset Management. Springer. 2020. p. 156-163 doi: 10.1007/978-3-030-48021-9_18

Impact of circular economy on asset management: lifecycle management perspective

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