Rapid induction and proliferation of a wide variety of state of the art equipment has been major concern for the maintenance organizations in the three services, which are finding it difficult to keep pace with the modernization process. On the other hand, the varied terrain, weather and operational conditions continue to pose difficulties in maintenances of equipment, men and materials. In addition, modern equipment calls for high quality of user maintenance and the requirement to minimize the repair and recovery chain optimum exploitation during combat. The inadequate maintenance support for the Night vision devices in the Army and inadequate maintenance support for the night vision devices in the Army and for the modern aircrafts and radars in the Air Force can be attributed to our inability to adopt a life cycle concept at the conception and procurement stage of equipment. We therefore need to develop a 'systems approach' in management of equipment, and consider all issues in the equipment life cycle, including procurement, infrastructure, operation, maintenance, upgradation, disposal and training.
In recent years, the arrival of ‘big data’ and the Internet of Things have radically transformed equipment management in sectors such as the construction industry, providing managers with previously unheard-of amounts of detailed data on fuel usage, maintenance, location and asset utilization. Furthermore, it provides a real-time overview of operations via asset tracking, ensuring that managers are better equipped to determine where improvements to efficiency can be made.
Given the size and scope of the projects it has to undertake, the construction industry is particularly prone to delays and budget overruns. Construction projects can sometimes go wildly over budget and profit margins are often thin as a result. According to research from McKinsey, large construction projects can take 20 per cent longer to complete than expected and go up to 80 per cent over budget. The study also notes that productivity in the construction industry has tended to lag behind general rates of productivity growth. This makes it all the more imperative for construction firms to ensure they have a robust equipment management system in place, so that they can make efficient use of their equipment and maximize productivity.