Strategic asset management is an organizational mindset based on the principle that physical infrastructure assets are a key enabler of business goals. Asset management is a crucial capability in this holistic approach that is endorsed by the BS 65000 guidelines for safe usage of virtual data room Organizational resilience.
If your goal is to minimize downtime, reduce repair costs, boost productivity or increase equipment reliability You can achieve all of them through efficient maintenance. It is important to understand the performance and needs of your equipment. That means creating a thorough and precise inventory. It also requires developing strategies for acquiring new assets – with an emphasis on the long-term value and alignment to business goals – and also for maintaining and extending the lifespan of existing assets.
Once you have a solid foundation on which to build, you’ll be able to move from a reactive operation to a proactive one. This involves avoiding common pitfalls for instance, failing to align the tasks of maintenance and strategic goals, not understanding the data, or not regularly comparing baseline reporting.
You can avoid these issues if you build your strategic asset management into an automated Maintenance Management System (CMMS) that is designed to connect all the pieces of your operation puzzle. You’ll then have the transparency and visibility necessary to not only see potential areas for improvement but also to strengthen your argument when it’s time to justify the next budget request.
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