Asset Lifecycle Management
In the context of aviation, Asset Lifecycle Management (ALM) refers to the comprehensive approach to managing an aircraft or aviation-related asset throughout its entire life cycle, from acquisition to disposal. This includes the planning, acquisition, operation, maintenance, and disposal of the asset. ALM is crucial in aviation as it helps airlines and other aviation companies to maximize the value of their assets, reduce costs, improve efficiency, and ensure safety. It involves various processes such as asset tracking, preventive maintenance, predictive maintenance, asset depreciation, and end-of-life management. ALM also includes the management of asset-related data, which is used for decision-making, planning, and performance evaluation. In aviation, ALM is often integrated with other systems such as Enterprise Resource Planning (ERP) and Maintenance, Repair, and Overhaul (MRO) systems to provide a holistic view of the asset's life cycle and to facilitate efficient asset management.
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