Considerations when looking to Optimise your Asset Management

When establishing business objectives you want to ensure that your assets are going to stand up to peak performance to the best of their ability. Whether your assets are in one location, or spread across multiple locations – efficient and dependable visibility is crucial. Preventative maintenance is always the best solution, though it may not always be viable. The secondary solution is prioritising your maintenance schedule based on the criticality of assets – Those are the assets that will bring business operations to a complete standstill in their case of failure.

Looking at these considerations will assist your business in optimising asset management and coordinate asset maintenance schedules with business objectives:

Asset Lifecycle Stage

At what stage of lifecycle is each asset standing? Asset-intensive organisations must take into account the costs involved with vital assets from purchase, to operation to maintenance of and disposal. The solution is real-time tracking of asset condition throughout the timeline of its lifecycle in order to have maintenance scheduled accordingly. Taking advantage of real-time knowledge of your asset’s performance and condition across multiple locations enables efficiency to discover potential issues and failures, therefore avoiding unnecessary downtime and expenses while ensuring assets remain up and running until the end of their lifecycle.

Asset Repair and Maintenance History

Looking at the asset repair and maintenance history we can keep track of the current age of the asset and estimate how long it will continue to work in its existing condition. With the utmost importance of ensuring a maintenance strategy is functioning optimally, we must track to establish and conclude that it is delivering the desired outcomes.

When an organisation is able to measure the efficiency of their asset management strategy, they are then able to optimise operational processes and therefore drive their long-term strategic goals. Having an EAM system in process ensures easier access to your asset’s comprehensive maintenance history and assists staff to competently make decisions in regard to that particular asset.

Asset Operational Efficiency to Repair and Maintenance Costs

It is important to factor in the value an asset produces against the costs it incurs in repairs and maintenance. We want to ensure that the repairs and replacements actually increase the asset’s uptime and efficiency during its lifecycle. Mainpac EAM will track your assets maintenance effectiveness by producing accurate customisable reports in order to reflect every related cost. Over or under maintaining an asset can happen when failure to correctly track maintenance and inventory costs occur. Assets that are under maintained can result in efficiency of operations, whereas over-maintained assets can result in financial and time losses.

How can Mainpac Assist?

Having an Enterprise Asset Management solution such as Mainpac is important for asset-intensive organisations that wish to boost the potential of their product and service delivery, improve their asset uptime, enhance performance and reduce unexpected downtime. Enterprise asset management software is designed to track where every asset is situated in its lifecycle, while storing all asset data including maintenance, repairs and parts replacement history and more.

Your assets are key piece of the puzzle that is your business. Why not work to optimise their management and contact Mainpac to see how we can assist you with a customisable solution to suit your needs.