ISO 55000 is not just about maintenance; it takes a holistic approach to asset management.
"The standard is all about value creation," says Scott Morris, associate director of global engineering for Genzyme, a Sanofi company. Morris also served as vice chair of the U.S. delegation for the development of ISO 55000.
"It's about using assets to achieve organizational objectives," he says.
The fact is many manufacturers have hundreds of thousands, even millions, of dollars invested in assets (which can include brand reputation).
Significant value in corporate assets remains leashed because departments pursue their responsibility toward asset management in a bubble, Morris says. As one example, purchasing's strict focus on cost may constrain asset design or reliability -- and ultimately drag down optimal overall performance.
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