Why Asset Management Is Important For Any Company?

Active management helps companies and maintenance planning organizations achieve a reliable response to business needs. In addition, it does not focus so much on doing actions on the assets, but rather on generating value through the assets, that is, it focuses on the Business.

The global economic recession in recent years has put additional pressure on asset-intensive companies to take more value out of their existing assets. Increasingly, these companies see asset management as a competitive advantage and now occupy a strong position in management cultures. Good asset management means more efficient equipment performance. An integral part of that management program is maintenance to ensure that performance is optimized and failures are minimized.

In this sense, the ISO 55000 standard defines asset management as: “The coordination of the activities of an organization to create value through its assets”, and the definition of an asset is: “something that has value or potential value for an organization.” This would be WHAT…

The WHY is associated with how to achieve sustainability that the company has, and what can be demonstrated how the actions carried out are actually adding value to the business.

Fixed asset management companies objectives, derived as part of the Strategic Asset Management Plan, provide the essential link between the objectives of the organization and the asset management plan(s) that describes how these objectives are to be achieved. These objectives must transform the required results (product or service) that must be provided by the assets, into activities typically described in the asset management plan (s).

Asset management objectives must fit into each of the organization’s needs, which may include addressing subsets of objectives (for example, for the asset management system, the asset portfolio, the asset system and asset level), and may vary for different functions performed to meet the requirements of interested parties. . The organization should consider information or data from internal and external sources to the organization, including contractors, key suppliers, regulators and other interested parties.

Fixed Asset management objectives must be specific, measurable, attainable, realistic and of a fixed duration (i.e., the “SMART” objectives). They can be both quantitative measurements (for example, mean time between failures) and qualitative measurements (for example, customer satisfaction).

The organization must consider the monitoring, measurement, analysis and evaluation necessary to drive and support decision-making on improvement actions is the essence of planning.

Maintenance influences all aspects of business effectiveness and risk, safety, the environment, energy efficiency, costs, product quality and customer service. In the past, the main objective of the maintenance department was to make repairs when the asset was not in operation and ensure that a fault was resolved quickly and efficiently.

Although the latter is still a condition for maintenance, it is not sufficient in the context of global fixed asset management. As organizations began to adopt asset management, a new strategy was necessary to reduce repetitive failures and be more effective and efficient. The reliability and efficiency of the asset was key.

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