Asset-intensive supply chains face crisis as investments fail to yield results

The recent Hexagon LIVE global conference highlighted the challenges in asset-intensive supply chains, gathering 3,000 industry leaders from 59 countries. Many discussions centered around the role of AI, digital twins, and robotics in reshaping operations within these sectors. The insights gained, particularly from Bas Beemsterboer, Director of Sales Strategy for Hexagon's Asset Lifecycle Intelligence division, emphasized that asset-intensive industries are at a crossroads between uncertainty and misguided investments. As labor shortages and aging infrastructure plague many organizations, the increasing operational costs have created an urgent need for strategic planning. A significant challenge cited was the 72% of U.S. manufacturers indicating that outdated technology is a barrier to attracting and retaining workers, while they simultaneously face the burden of 500,000 open jobs. Companies often pursue quick-fix, one-size-fits-all solutions that fail to address complex operational realities. This tendency results in disconnected systems and heightened risks, putting many firms at a competitive disadvantage. To counteract this pressing situation, businesses must emphasize the importance of proper maintenance and asset performance management aligned with data-driven decision-making. A pervasive issue is the so-called AI fatigue that many enterprises experience, being primarily rooted in misunderstandings about the technologies being invested in. Bas Beemsterboer pointed out that organizations pour millions into capital expenditures without fully grasping or utilizing these tools effectively. Thus, the solution lies in acquiring the right data at appropriate times. Purpose-built AI systems, tailored to fit complex environments, can enhance visibility and improve stakeholder alignment, generating measurable returns on investment. As leaders in asset-intensive supply chains recognize this point of inflection and take decisive action, the path towards leveraging AI in Maintenance, Repair, and Operations (MRO) will become critical. Those who build trust in their systems and focus on pragmatic intelligence stand to gain a significant competitive advantage. In summary, true transformation hinges upon the ability of finance, maintenance, and procurement departments to align their decisions through trusted data, ultimately enhancing operational efficacy across the board.