Asset Management

Asset management is a systematic process of maintaining, upgrading and operating physical assets cost effectively. It combines engineering principles with sound business practices and economic theories and it provides tools to facilitate a more organized logical approach to decisions making. Thus, asset management provides a systematic framework for handling both short and long range planning.

Reduction of redundant work
  • Automatically prompts and enables schedule planned maintenance based on actual completion to reduce over-maintenance.
  • Ascertaining and eliminating of root causes of defects through analysis of reports to avoid problem recurrence.
  • Eliminating of excess work by recording effectiveness of work done against occurrence of defects inducing events.
Reduction of work time
  • Leverage on experience captured in work history reports and an easy user interface to distribute these reports.
  • Increase mean time before failure (MTBF) by analysing work history reports followed by automatic scheduling of proactive works.
Improvement of costs utilization
  • Reduce asset based business interruption time by continuously improving response time through analysis of labor utilization reports.
  • Emphasis on planned work thus reducing unplanned overtime costs.
  • Ability to report work by asset, location, employee and requester that enables better planning of resources by reviewing of who, where, when and deployment of work skills.
  • Ability to capture costs for labor and parts used in all work area that improves budgeting capability and justification.
  • Improve asset purchasing decisions by basing decisions on historical records.
  • Ensuring through feedback reports that strategies developed using high cost methods are followed through and implemented.