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 publicationProceedings of 13th World Congress on Engineering Asset Management, WCEAM 2018
    Publication statusAccepted/In press - 25 Sep 2018
    MoE publication typeNot Eligible
    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

    Fingerprint

    Circular economy
    Life cycle management
    Asset management
    Assets
    Life cycle
    Sustainability
    Resources
    Durability
    Strategic goals
    Enablers
    Digital technology

    Keywords

    • Asset management
    • Circular economy

    Cite this

    Hanski, J., & Valkokari, P. (Accepted/In press). Impact of circular economy on asset management – lifecycle management perspective. In Proceedings of 13th World Congress on Engineering Asset Management, WCEAM 2018
    Hanski, Jyri ; Valkokari, Pasi. / Impact of circular economy on asset management – lifecycle management perspective. Proceedings of 13th World Congress on Engineering Asset Management, WCEAM 2018. 2018.
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    Hanski, J & Valkokari, P 2018, Impact of circular economy on asset management – lifecycle management perspective. in Proceedings of 13th World Congress on Engineering Asset Management, WCEAM 2018. 13th World Congress on Engineering Asset Management, WCEAM 2018, Stavanger, Norway, 24/09/18.

    Impact of circular economy on asset management – lifecycle management perspective. / Hanski, Jyri; Valkokari, Pasi.

    Proceedings of 13th World Congress on Engineering Asset Management, WCEAM 2018. 2018.

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

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    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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    Hanski J, Valkokari P. Impact of circular economy on asset management – lifecycle management perspective. In Proceedings of 13th World Congress on Engineering Asset Management, WCEAM 2018. 2018