In today’s world, Asset Vendors, or Original Equipment Manufacturers, experience more competition than ever due to Asset Owners’ continuous effort to reduce their capital expenditure and, as a result, turn to lower-cost alternatives.
That is why, as an Asset Vendor, you should stress the importance of viewing the total cost of ownership (TCO) over the lifetime of your products rather than focusing on the initial costs. You can do this by providing the Asset Owners with capabilities to reduce their operational costs while balancing the availability and reliability of their critical assets.