Recent advancements in information systems and computer technology have led to developments in equipment and robotic technology that have permanently changed the characteristics of manufacturing equipment. Equipment Management in the Post-Maintenance Era: A New Alternative to Total Productive Maintenance (TPM) introduces a new way of thinking to help high-tech organizations manage an increasingly complex equipment base. It also facilitates the fundamental understanding of equipment management those in traditional industries will need to prepare for the emerging microchip era in equipment. Kern Peng shares insights gained through decades of managing equipment performance. Using a systems model to analyze equipment management, he introduces alternatives in equipment management that are currently gaining momentum in high-tech industries. The book highlights the fundamental internal flaw in maintenance organizational setup, presents new approaches to replace maintenance functional setup, and illustrates a time-tested transformation and implementation process to help transition your organization from the maintenance era to the new post-maintenance era. Breaks down the history of equipment into five phases Provides a clear understanding of equipment management fundamentals Introduces alternatives in equipment management beyond the mainstream principles of maintenance management The book examines maintenance management logistics, including planning and budgeting, training and people development, customer services and management, vendor management, and inventory management. Supplying a comprehensive look at the history of equipment management, it analyzes current maintenance practice and details approaches that can significantly improve the effectiveness and efficiency of your equipment management well into the future. Regarding this second edition, within the past few years, the substantial development of Internet of Things (IoT) and significant advancements in artificial intelligence (AI) and machine learning (ML) have enabled a new generation of smart machines, which set the foundation for the Industry 4.0. Equipment utilizing IoT and sensors can monitor the components to be serviced at an exact time without the need to set a Preventive Maintenance schedule. Another fact is that equipment replacement rarely occurs at the end of the equipment’s natural life; rather, replacement is driven by the introduction of new technologies and products – all of which lead to less maintenance activities and the traditional maintenance function becoming less vital. Explicitly, maintenance departments are operating with less employees and a smaller budget. At a point when machines are smart enough to keep themselves running or equipment are rendered obsolete by better equipment in a short time similar to computers and cellphones, companies do not need a maintenance department. This updated edition reiterates the importance of transitioning to the post-maintenance era in order to effectively manage today’s sophisticated, smart and yet expansive equipment. Many changes the author predicted a decade ago are accelerating in the IoT era. Equipment management is moving further away from the maintenance era and advancing deeper into the post-maintenance era. The trend for smart machines is very clear and companies that do not upgrade their equipment will lose their competitiveness. As equipment and factories becoming smarter, companies must change their practices and organizational structures to manage the new generation of equipment for the upcoming Industry 4.0.