Sectrio

OT Asset Inventory Management: Comprehensive Outlook

By Sectrio
August 20, 2024
a warehouse with boxes on shelves

Summary


The rapid growth in the industrial segment has increased the focus of organizations on their operational technology asset inventory management. The critical and complex landscape made the management unstructured. The need for a robust, solved, and secured inventory management system has never been greater.

Compounding this challenge gave an edge to cybersecurity concerns in operational environments where sensitivity is data disruptions. Moreover, with the changes in compliance requirements, a comprehensive approach to OT asset management and security is paramount.

November 2023, the entire pressure regulation pump system of the Aliquippa water plant in Pennsylvania was cyber-attacked and shut down highlights the significance of OT security measures and its consequences when compromised. The cyberattack targeted the PLC-HMI system of the plant’s OT system which was manufactured by Unitronics.

Key Components of OT Asset Inventory Management

An effective OT asset inventory management system must comprise of following components:

  • Asset identification and classification: These are the foundational steps in OT asset inventory management. All the assets will be identified systematically within the operational environment, including software, hardware, and network components.
    After identification is completed, the classification process initiates, which classifies assets based on criteria like function, criticality, and associated risk. The structured classification ensures that an asset is prioritized and managed according to its importance within the system.
  • Data collection and maintenance: This component of asset inventory management authenticates that asset inventory data is accurate and most recent. Feed your system with the latest and complete information about each asset configuration, usage, location, and risk-associated feature. This data collection has the strong potential to make your system robust with the inclusion of updated entries.
    Run thorough checks to ensure your process includes regular updates of each asset and reflects the current state of the operational environment.
  • Lifecycle management: Assessment of each asset’s lifecycle is an ongoing process, with every step holding its importance. The cycle starts with the acquisition of assets and closes with decommissioning. In this cycle, regular monitoring of asset performance is paramount to reaching operational goals.

Administering an OT Asset Management System

Putting the OT asset management system into action needs a planned and organized approach to ensure each segment is taken care of with perfection and connects with organizational goals. The standard system flow includes:

  • Well-documented inventory policy and procedure: Have a written format of detailed policy about roles, processes, and responsibilities for each member to maintain the accuracy of asset management.
  • Right selection of tools: There are plethora of tools today, hence choosing the right tool will give your entire system a good edge in the inventory management process. Pick automation where relevant to identify, classify, and track assets seamlessly. Ensure all the tools are scalable and easy to adapt.
  • Training: Every department manager must know about the tools and the prevalent technologies to work in a streamlined manner. Educating personnel will also help in choosing the tools wisely and differentiating between the responsibilities to manage well.
  • Asset inventory integration with existing system: Before using the OT asset inventory management system check if it integrates right with the existing operation or needs any updates. Include the updates to maintain a robust system and data consistency.

Provocation in OT Asset Inventory Management

OT asset inventory management complexities are observed in the following:

  • Legacy system: Industries using operational technologies of an older system often don’t support modern networking capabilities. Moreover, they are incompetent to integrate with automation tools which brings a gap in the system.
  • Scattered asset management: OT environment scans locations like extensive pipeline networks and offshore drilling platforms. Areas scattered to such an extent can be tough to manage well.
  • Network barrier: Industries operate in underground mines or at offshore oil rigs where it is unsure to find a reliable network. With this uncertainty real-time monitoring gets difficult.

Updated standards for sound OT Asset Inventory Management

  • Uniform Audit: Check the data often to corroborate all data is crucial, relevant, and reflects the current status of the environment specified.
  • Usage of Advanced Tools: Consumption of automated tools eliminates the risk of manual error and shows uniform reports which helps in streamlining crucial decisions.
  • Categorization: Convention and category segregation improve asset searching at the time of evaluation of stock.
  • IT-OT Collaboration: The IT and OT merge boost the entire asset management process by monitoring threats in real-time and using advanced authentication mechanisms.

Value addition of robust OT Asset Inventory Management

Implementation of robust OT asset inventory management unlocks the following benefits:

  • Efficient operations: This optimized and structured approach augments asset utilization and helps in proactive inventory maintenance.
  • Better security: The coherent view of the current OT environment gives heads up about vulnerabilities that might come in the way. This alerts the team to safeguard the attack surface and advance the security posture.
  • Well-briefed decision: Up-to-date and real-time information about the asset gives the current scenario about the asset and helps in making resolute resource management decisions.

Conclusion

Advanced analytics and AI support improves the effectiveness of OT asset inventory management for industries. Sectrio, a team of high-tech experts, knows what an industry needs to optimize its asset management. 
Whether the industry is at the initial stage or an old gamer, the optimized asset management support from Sectrio will transform the pattern into a result-driven path.

Summary


The rapid growth in the industrial segment has increased the focus of organizations on their operational technology asset inventory management. The critical and complex landscape made the management unstructured. The need for a robust, solved, and secured inventory management system has never been greater.

Summary


The rapid growth in the industrial segment has increased the focus of organizations on their operational technology asset inventory management. The critical and complex landscape made the management unstructured. The need for a robust, solved, and secured inventory management system has never been greater.
a warehouse with boxes on shelves

Read More

Protecting your critical assets is only a few steps away

Scroll to Top