As companies that are heavily dependent on assets face unprecedented problems – including the pandemic and the global climate change It is more crucial than ever to build resilience through strategic asset management. This requires a change in mindset that aligns risks and value in decision-making processes and a structured framework for asset life cycle management.
While the approach of each company to strategic asset management may differ slightly There are a few common guidelines. These include:
Find and catalog assets. This includes determining where each item is located and how often it is used and its condition. This will help you to determine the most effective way of prioritizing maintenance requests and simplifying work orders. This information will also help in providing accurate estimates of the financial costs for each maintenance task.
Create a clear and distinct prioritization based on risk of the most vital assets based on the policies and goals of the organization. This will help minimize downtime and increase availability while cutting operating costs.
Find the best method to deal with obsolescence. this could include resales or recycling, or even making a commitment to dispose of funds. A CMMS solution can help in this process, and also evaluate the environmental impact of each choice.
Make sure that procedures and policies are regularly reviewed and updated to reflect the current business needs, technological advancements and best practices in the industry. This will improve the effectiveness of the overall asset management process and maximize the benefits from each investment. Additionally the implementation of an asset management strategy will provide data-driven insight for more confidently planning budgets for the future.
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