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    A Strategic Procurement Concept for Physical Asset Management Framework

    Access Status
    Fulltext not available
    Authors
    Jeeva, Ananda
    Baswaid, Ahmed
    Date
    2014
    Type
    Conference Paper
    
    Metadata
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    Citation
    Jeeva, Ananda S. and Baswaid, Ahmed Mohsen Salem. 2014. A Strategic Procurement Concept for Physical Asset Management Framework, in Proceedings of the 4th International Conference on Industrial Engineering and Operations Management, Jan 7-9 2014, pp. 2587-2592. Bali, Indonesia: IEOM Society.
    Source Title
    Proceedings of the 2014 International Conference on Industrial Engineering and Operations Management
    Source Conference
    International Conference on Industrial Engineering and Operations Management 2014
    Additional URLs
    http://iieom.org/ieom2014/pdfs/557.pdf
    ISBN
    9780985549718
    URI
    http://hdl.handle.net/20.500.11937/33552
    Collection
    • Curtin Research Publications
    Abstract

    Physical asset management has been described from a variety of different perspectives including management, engineering, operations and finance. Regardless of the increased attention paid to physical Asset Management by practitioners, academic literature still has gaps in identifying the challenges and obstacles for Asset Management. Few studies have been conducted in the area of physical Asset Management and little attention has been received on the Oil & Gas sector. This conceptual paper proposes the development of a physical Asset Management framework from two perspectives: Supply Risk (SR), and Strategic Procurement (SP). It focuses on how both perspectives can create value for Asset Management. This proposal will also examine how SR and SP can overcome the challenges and obstacles in Asset Management. It combines Reliability Theory (RT) and Business Continuity Theory (BCT) to build a theoretical foundation to formulate a physical Asset Management framework.

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