Facility Asset Management: Maximizing Asset Longevity & Productivity

Facility Management Market Leader

Updated January 9th, 2025

Table of Contents

• What Is Facility Asset Management?
• Implementing Facility Asset Management
• Durable Tags Ensure Peak Asset Performance
• Frequently Asked Questions

Key Takeaways

Facility asset management is a strategy for managing, tracking, and maintaining an organization’s physical assets, such as equipment, infrastructure, and tools, to maximize their lifespan and optimize productivity. By using software, durable labels, and energy monitoring, organizations can improve efficiency, reduce costs, and ensure compliance and safety across multiple locations.

Whether it’s heavy equipment, eCommerce inventory, or computers, every facility contains high-value assets. Nearly all organizations rely on physical assets to do their work, and it’s essential to manage these resources to maximize productivity. Not only that, but proper management even extends asset lifespans and reduces costs.

That’s where facility asset management comes in. Organizations follow this process to make the most of all the assets within their facilities, from bathroom soap dispensers to manufacturing machinery. Learn how facility asset management works and how to follow these principles to optimize your organization’s assets.

Photo by Anamul Rezwan from Pexels

What Is Facility Asset Management?

Facility asset management is a strategy for managing, tracking, and maintaining the physical assets in a facility. The goal of asset management is to make the most of an organization’s resources, ensuring they remain in operational condition for as long as possible.

Facility asset management focuses on much more than equipment. It also includes:

• Buildings and infrastructure
• HVAC
• Plumbing
• Electrical systems
• Tools
• Furniture

Not only does facility asset management track the current status of all assets, but it also:

• Logs asset inventory details
• Plans maintenance
• Monitors energy use
• Ensures assets meet regulatory standards

The better an organization manages the assets within its facility, the better it will control costs, especially if it has multiple locations. This process also supports compliance, workplace safety, and productivity.

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Implementing Facility Asset Management

Facility asset management is incredibly beneficial because it makes the most of an organization’s physical assets. However, there’s always room for improvement. Follow these tips to optimize your organization’s facility management processes.

Integrate facility management software

Even small facilities benefit from asset-tracking software. Options like a Computerized Maintenance Management System (CMMS) or Enterprise Asset Management (EAM) software make it easier for facility managers to check up on an asset’s condition in real time.

With the right software, there’s no need for manual tracking. The system keeps historical records of repair history, maintenance, and compliance information to help facility managers keep up with the increasing number of assets under their control.

Use durable labels and tags

Labels and tags bridge the divide between physical assets and digital tracking systems. Going with a durable option gives you peace of mind that the tags will remain legible, preventing miscommunications or safety issues.

Camcode’s labels are tested in all environments and rated for 20+ years, ensuring your assets stay identifiable and organized for their entire lifespan.

Optimize energy use

Photo by Maarten van den Heuvel from Pexels

Everything from the breakroom refrigerator to manufacturing equipment relies on energy to run smoothly. However, the sheer amount of electricity required to power these devices increases the costs of operating your facility.

Part of facility asset management is reviewing energy consumption and identifying high-energy-use assets. The worst offenders may need to be replaced with energy-efficient alternatives. Many smart plugs can track energy consumption, helping you to identify the most wasteful assets.

Train employees

Employees might assume it’s the facility manager’s job to keep assets in great condition, but that isn’t true. Everyone who touches an asset is responsible for keeping it in good condition for the next person.

Training employees on proper asset use prevents misuse and damage, reducing maintenance and replacement costs.

Photo by Tiger Lily from Pexels

Facility managers have a lot on their plates. Not only are they in charge of building infrastructure, but they also need to monitor the status of even the smallest of assets within each facility. Embracing facility asset management software is a smart first step to automating asset management, saving both time and money.

However, organizations also need a way to bring physical data into these digital systems. That’s where Camcode comes in. Our durable labels and tags are rated for even the harshest industrial environments, ensuring your labels stay legible for the long haul. Request your free Camcode sample kit today.

Frequently Asked Questions