Maintenance is a strategic factor and key enabler for smart factories. Therefore, it needs
to be intelligent – SMART – and cost-effi cient – LEAN. The Lean Smart Maintenance
(LSM) concept combines these two perspectives and enables a dynamic, smart and
value-oriented maintenance/asset management for smart factories. This paper introduces
LSM and explains its major components. It consists of effi ciency drivers, e.g.
maintenance processes and planning, outsourcing, and effectiveness factors, e.g. data
and knowledge management, qualifi cation and maintenance strategy. Besides that,
an LSM implementation model is introduced. An LSM assessment methodology as a
fi rst implementation step is explained. A maturity model is used to identify and improve
the current state of asset management. The four-step LSM implementation model is
described with a maintenance strategy example.