Operations: ISO 55000: A Holistic Approach

Did you hear the news about ISO 55000, as well as its companions, ISO 55001 and ISO 55002? They are a series of international standards for an asset management system, and they were published in January 2014 following several years in development.

Oh, you did hear the news. You skimmed the information, concluded it was meant for your reliability and maintenance crew only, and dismissed it from mind knowing that your capable organization would run with it, presuming it held merit.

Such thinking could be a mistake. In fact, it would be counter to the purpose of ISO 55000, which takes a holistic approach to asset management. In other words, it's not just about maintenance.

"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).

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