Harnessing prognostics health management and product‐service systems interaction to support operational decisions

Abstract

Purpose – Prognostics and health management (PHM) can support product‐service systems (PSS) contracts, especially in the case of high technology products where their condition and performance can be monitored. The purpose of this paper is to investigate how PHM can support effective execution of some PSS contracts and to set out the future research agenda for the development of an online simulation modelling framework that will further harness the interaction between PHM and PSS.Design/methodology/approach – The research methodology commenced by collating facts and figures from the existing body of knowledge, from which a set of key findings is presented from both technical and business perspectives. Analysis of the key findings highlights the current state of PHM‐PSS interaction, the capability of existing tools and techniques and a comprehensive analysis of PSS performances, with and without PHM.Findings – Increased demand for total asset performance from the customers has been the main driver for PSS p...