Strategic Aspects of Asset Management: An Overview of Current Research
Major shifts in the competitive environment encouraged a recent growth in the number of academic articles devoted to strategic aspects of asset management. Organizations start to recognize that a strategic approach to asset management becomes a source of sustainable competitive advantages and long-term survival in the turbulent environment. However, existing studies are largely case-specific in interpreting strategy and draw on various theoretical grounds and approaches. This leads to little theoretical and methodological consistency in understanding current findings and how to design future studies. The key goal of this paper is to systematically review the existing research through the analysis of over 700 articles devoted to asset management with a focus on strategic aspects. Our key contributions are positioning strategic asset management within the vast field of asset management research, describing the nature of strategic asset management research, and confirming that asset management strategies align with different levels of organizational strategy. We visualize the existing research field, and indicate gaps and underdeveloped areas of research. We also shortly outline future research directions based on our findings, thus encouraging a more coherent development of research on strategic asset management.
The article explores the possibility of implementing systems approach in order to describe the process of value creation through asset management in electric utility companies. The author outlines the key challenges existing in the power industry nowadays. Then, the main problems regarding asset management in the dynamic environment are emphasized. The author describes the current state of research in the field and highlights the significance of value based asset management. The possibility of implementing the basic principles of systems approach in relation to asset management in electric utility companies is analyzed. As a result the author proposes a model that describes the process of value creation throughout the asset management system from the systems approach perspective.
We gladly invite both Academic and Industrial community to submit top quality Research papers and Industrial case presentations related to engineering, operations, and management of Engineering assets and Public infrastructures.
This call for Research papers and Industry presentations aims at drawing diverse industry wide and top Research expertise that can stimulate fresh discussions and views, create innovative ideas, and explore smart solutions. The WCEAM-2018 Congress will cover a range of Technical themes that has a direct connection to your passion, professional interest, and expertise. Those areas are of interest to Asset owners, Operators, Producers, Technology developers, Service providers, Public institutions, and the Academic & Research community.
We also cover a wide range of Industrial and Public sectors, inclusive of; Oil & Gas, Refining industry, Nuclear, Hydropower, Renewable Energy, Ocean & Maritime sector, Mining, Public Infrastructures and Land transportation, Green Manufacturing, Process industry, Engineering structures and Buildings, Construction sector, Healthcare Systems, Aeronautics and Aerospace, Information and Telecommunication sector. We actively encourage those who have top expertise on specific Technical themes to deliver a workshop, seminar, training activity, or a round table session at the Congress. If you are keen, we will be excited to hear from you. All Abstracts, Papers, and Presentations will be reviewed by the International Scientific Committee of the Congress for inclusion in the Congress Proceedings. Selected research and thought-leading industry papers will be peer reviewed, and if accepted will be published in the Springer ebook after the event titled, “Engineering assets and Public infrastructures in the Age of Digitalization” and subtitled, “Proceedings of the 13th World Congress on Engineering Asset Management”. The Springer ebook series is indexed by Scopus and is also currently being assessed for inclusion in EI Compendex. Past proceedings are available on the Springerlink web site.
Industry cases and Projects
We strongly encourage Industry presentations from the Public and Private sector based on real Industrial Projects and Business cases.
Congress Topics and streams
Asset management in industry 4.0: Smart Factory, Cyber-physical Systems, Virtual Factory, Virtual and Augmented Reality, Cloud-based solutions, Machine learning
Modern digital applications: Advanced ICTs, Big Data Analytics, Intelligent decision support, Algorithms for Performacne optimization, Industrial informatics, Signal processing, Robotics and Automation, Mechatronics, Smart sensors and Instruments
Dynamic modeling, simulation and visualization: Modelling of Business & Operational Processes, Multiagent tenhnologies, 3D technologies, Visualization techniques
Smarter and safer assets: Digital risk, Safety, Security, Reliability, Resilience Engineering, Barrier design and management, Human-Technology interface, Risk analysis and management, Data integration and Interoperability
Asset economics and decision analysis: Financial risks, Asset investments, Life cycle costing, Beyond budgeting, Decision analysis
Critical asset processes: Spare-parts and Warehousing, Innovative logistics, Supply chain optimization, Production planning, Quality control, Maitenance, Operations, Remote support, Collaborative work processess
Asset health: Tools and technologies for equipment and structural health assessment, Diagnostics and Prognostics, Technical and operational integrity, Pattern recognition, e-Maintenance, Inspection techniques, Fault and Failure analysis
Co-value creation: Service innovation, Service integration, Project engineering and management, Contract strategies and Contract management, B2B partnerships, Change management, Customer relationships
Sustainable assets and processes: Energy efficiency, Regulations and Standards, Legal aspects, Environmental technologies, Eco-efficiency, Carbon foot-print, Managing stakeholders
Human capital and organizational development: Competence management, Education and Training, Managing work place diversity, Modern leadership
Performance measurement and management: KPI design and implementation, Performance optimization methods and techniques, Benchmarking, Learning and Continuous improvement
Nowadays, the formation and development of an asset management system of "Russian Grids" is one of the key processes and priorities of the company, covering all levels of strategy. On the one hand, the relevance of finding an optimal asset management strategy is caused by a necessity to synchronize the strategies of different business levels with the company’s strategy and to transmit the relationships between the strategies into the key performance indicators of business processes. On the other hand, all the subsidiaries of "Russian Grids" are at different levels of development, and the same goals could not be achieved by all companies at the same time. This article considers one of the possible approaches to searching an optimal asset management strategy for subsidiaries under the general direction of unified asset management strategy development and the corporate strategy. The asset management strategy choice depends on the level of its maturity and efficiency of the company with condition of necessity to synchronize the strategies of different business levels and to decompose relationships between these strategies through corresponding key performance indicators.
Client satisfaction is a critical element that equally affects firms’ competitiveness in manufacturing and service industries. The competitiveness is highly dependent on the mediating role that client satisfaction plays on consumers’ loyalty, and this is especially relevant in the turbulent periods lived after the financial crisis of 2008. A simple glimpse at the growing number of publications on client satisfaction shows the relevance of the topic. The aim of this paper is to analyze the evolution of articles published by Russian and non-Russian authors to see whether the experience of the former Soviet Union autocracy and the transition from this regime to market economy has played a significant role explaining the differences in approaches and topics under analysis as well as the rate of convergence between these two once separating worlds. The analysis is based on a systematic literature review of a first set of 1685 articles on client satisfaction in the Scopus and eLIBRARY databases. A further step based on only 200 relevant articles is made to find that the breach between these two worlds has been reduced, but there are still some differences regarding the social and economic components of the relevant literature. Some avenues for the future research that can advance a better understanding on the client satisfaction and the effects on the firms’ competitiveness after the existing new political agenda are briefly introduced.
Purpose – The aim of this paper is to provide empirical guidance on those antecedents and consequences of customer satisfaction (CS) that may be included in the tourism sector and based on a systematic literature review. Design/methodology/approach – Undertaken through a review of 495 papers that have been published in 41 journals since 1988 and up to 2016 (a 29-year period). A more detailed understanding and discussion is also provided, which has been based on the analysis of the 100 most-cited articles. Findings – The theoretical models and the empirical applications provided depend to some extent on the sector under analysis. Nevertheless, the most popular determinants and consequences are service quality and loyalty (recommendation and revisiting), respectively. CS antecedents have been studied more than CS consequences. Research limitations/implications – The analysis has been based solely on English language articles that appear in Scopus. As a result, the geographical areas and the tourist sectors are definitely biased by this selection, and the results cannot be easily transferred to other geographical areas or tourist sectors. Practical implications – The results obtained from the study have relevant empirical and practical implications for hospitality researchers and practitioners. Firstly, the selected papers may be used as a valid starting point to research CS with respect to antecedents and consequences. Hospitality managers can also benefit from a better understanding of this triplet in tourism. Originality/value – This study is the first attempt to provide a systematic literature review on the antecedents and consequences of CS in tourism. Thus, researchers in the field will be able to begin their work with a complete and comprehensive model that considers the main antecedents and consequences of CS in tourism.
This paper is devoted to the analysis of challenges and opportunities that emerge from the process of digital transformation in electric utilities. It presents a part of an ongoing study on asset management in electric utilities. Increasing demand for electricity and technological advancement are one of the main factors stimulating digital transformation both in developing and advanced economies. While digital transformation implies high costs and long-term investments, electric utilities can benefit significantly during this process. We propose a theoretical model of value creation in the process of digital transformation with the use of the Porter’s value chain framework. It turns out that generation, transmission and distribution, and retail companies seem to have opportunities to capture significant value form digitalization.
портовый менеджмент, показатели деятельности, анализ эффективности, система учета, распределение издержек, методы анализа деятельности портовой системы
At present many industries reveal tendency for setting up of vertically integrated companies (VIC) the structure of which unites all technological processes. This tendency proved its efficiency in oil industry where coordination of all successive stages of technological process, namely, oil prospecting and production -oil transportation - oil processing - oil chemistry - oil products and oil chemicals marketing, is necessary. The article considers specific features of introduction of "personnel management" module at enterprises of oil and gas industry.
vertically integrated companies; personnel management