Strategic asset management is an organizational mindset founded on the idea that physical infrastructure assets can be used to achieve business objectives. Asset management is a critical ability in this holistic perspective that is endorsed by the BS 65000 guidelines for Organizational resilience.
Whatever your goal is to reduce downtime, lower repair costs, increase productivity, or improve the reliability of your equipment, you can achieve all of these by implementing effective maintenance. To achieve this it is essential to know the current performance of your assets and needs. This means creating a complete and complete inventory. It is also necessary to develop strategies for the acquisition of new assets – focusing on the long-term value and aligning to the business’s goals – as well as for sustaining and extending the life 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 means avoiding the typical mistakes that many organizations make mistakes, such as not aligning maintenance tasks with goals for the future or misinterpreting data safe usage of virtual data room or performing regular comparisons of reports from baseline.
Avoid these traps by integrating your strategy for asset management into an automated Maintenance Management System (CMMS), which is designed to connect all the pieces of your operation puzzle. Then, you’ll have the visibility and transparency required to not only find opportunities for improvement but also to strengthen your argument when it’s time to justify the next budget request.