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Asset Tracking & Management

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 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.

 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 that 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, 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.  At some point while owning an asset, it makes more sense to replace it, than to continue servicing it.  To get the most cost benefit from assets it’s crucial that it’s maintained at its best.

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.

CMMS 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 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.

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The New Way to Schedule Preventive Maintenance 

Imagine eliminating archaic asset tracking methods and using a system that can hold, manage, track, and remind you of the upcoming preventive maintenance schedules. Instead of finding out the hard way when assets fail, you need systems in place to tell you when, where, why, and on what asset to perform the preventive scheduled maintenance tasks. You no longer have to rely on someone's memory, a stack of post-it notes, paper files, or emails to remind you when to schedule preventive maintenance. Our asset tracking software will tell you when preventive maintenance is overdue so that you can take action. You will be collecting invaluable data regarding past maintenance and future maintenance, which will impact your ability to plan and manage future events.

Identify and help eliminate bottlenecks

NetFacilities offers affordable computer software for equipment and fixed asset tracking. Our asset tracking software will help prevent revenue leaks (excessive expenditures caused by falling off task, loss of production time, etc.), and will reduce expenditures to keep you within (and likely below) your department budgets.

Finding and eliminating bottom line threats is just as important as new revenue. It is the place to look in all facility, property, production, and maintenance management scenarios to make a big difference in organizations profits. If you want to improve your facilities and maintenance management processes, get a comprehensive asset management system today.