Well, you could in your inittab set it to respawn
autosrvr:2:once:/usr/tivoli/tsm/server/bin/rc.adsmserv >/dev/console 2>&1
#Start the Tivoli Storage Manager server
I keep mine at "once" so if I want to stop it...

Now what I end up doing is along the lines of

for SERV in $(cat adsm.server.list)
        do
        dsmadmc -id=blah -pass=blah -serv=$SERV quit
        if [ $? -ne 0 ]
                then
                echo $SERV is not responding | mail -s TSM_Down |
mypagerid AT pagenet DOT net
                fi
        done

I run that every hour of every day...

if you want to autostart just do (on the server, this is quick, bare
minimum...)
#!/bin/ksh
ps -ef | grep dsmserv | grep -v $$ 1>/dev/null 2>&1
if [ $? -ne 0 ]
        then
        nohup /usr/tivoli/tsm/server/bin/rc.adsmserv &
        fi
exit