Stop Losing Assets Due to Forgotten Maintenance
We all know the typical notification system many organizations use to schedule preventive maintenance - wait until something breaks. When that happens, you have an office or building full of unhappy people and productivity stops. Suddenly all other tasks have become lower priority and you have to pay for emergency service and repair.
In the world of Asset Tracking and Management, time is of the essence. One minor oversight can produce major losses in productivity and profit. The old resource of managing preventive maintenance, otherwise known as scheduled maintenance, consistently fails over time. In order to stop revenue leaks, reduce operational budget expenses, and reclaim your capital, it is important to take care of the assets you own or manage.
Central to the BIM theme is making buildings easier and less expensive to operate. Why then, are assets the last items people think of tracking? Everything contained in each building is an asset, as well as the vehicles used to transport items from building to building. To reduce complexity, NetFacilities advocates embracing maintenance resource planning from the beginning – when you build or purchase the asset, and tracking that asset from cradle to grave with the use of Asset Tracking and Management.
At the outset, it is easier to create a comprehensive view of each asset if all the information about the asset is available. In a CMMS Asset Tracking and Management allows you to hold all the data, the optimal information includes all purchasing and warranty information, the asset tag information, a serial number, manufacturer information, department assigned to a preventive maintenance materials list. The NetFacilities solution will also allow you to assign the asset to a group or subgroups, attach images of documents, purchase and other receipts, asset data and work order histories, and depreciation/valuation and replacement estimates. Again, in a comprehensive CMMS Asset Tracking and Management feature, the data generated here is easily transmitted and accessible by the finance team for reporting.
ASSETS LIFE-CYCLE: EQUIPMENT
Asset life-cycle is simply the amount of time between implementation and use, and retirement or disposal. Assets have a life expectancy and at some point while owning an asset, it makes more sense to replace it, rather than to continue servicing it. To get the most cost benefit from assets it’s crucial that it’s maintained at its best with a Asset Tracking and Management feature.
Since assets have value, it’s important that you know where your assets are at all times, and they must be maintained at the very least in accordance with the manufacturers recommendations, and must be maintained by proficient technicians applying modern maintenance best practices.
A CMMS Asset Tracking and Management system feature plays a critical role in achieving the most optimal results. Without it out, you’re likely to see a shortened life-span. With a well implemented CMMS program using Asset Tracking and Management you’re able to track the purchase price, planned preventive, or scheduled maintenance, unplanned or emergency repairs, and depreciation over the life of the asset.
A CMMS system offering downtime tracking provides for the ability to know the number of downtime hours spent performing planned maintenance activities versus the number downtime hours of unplanned repairs. Over time this sort of information helps to predict when a failure could be expected. This is the mean time between failure (MTBF).
The amount of downtime hours spent performing service is also key, as it can provide useful information about the mean time to repair (MTTR), or simply the average amount of time spent repairing the asset during periods of downtime.
These indicators provide documented evidence which can be measured against the manufacturer’s suggested life-span. It can also provide key information such as the overall cost of ownership measured against the cost benefit, or return on investment (ROI).
As the cost of owning the asset increases over time, and the benefit of owning the asset diminishes, it’s much easier to conclude when it’s time to retire or re-purpose the asset and using an Asset Tracking and Management feature you can be sure to make confident decisions based on your reports.