Transform Your Organization with Asset Management: Boost Efficiency & Asset Lifespan

What is an Asset?

By definition, asset are valuable or extremely useful items. Every organization looks to maximize asset life and increase overall efficiency. Leveraging the tools within a CMMS can help drive operational excellence, regardless of whether operation is production, providing services, managing maintenance on healthcare equipment and more.
A CMMS provides a central storage location for the majority of data and information for your assets. It also manages and controls your work and materials management/parts usage processes, and tracks maintenance activity over the lifecycle of an asset.

To Extend the Life of Assets using a CMMS, users can:

• Deploy equipment hierarchy and history tracking
• Store and display assets in a hierarchical structure
• Relate parts and Bills of Materials to assets
• Define and understand importance of Asset Criticality (PM intervals, priorities, etc.)
• Deploy visibility to all work history and charges related to assets

Asset management tools help organizations Establish Action-Based Maintenance by:

• Documenting and inspecting specifics to predict or detect defects and symptoms that result in failures
• Scheduling maintenance as needed based on analysis of asset condition data
• Reducing downtime by control of relevant failures (a failure that can occur or recur during the operational life of an asset)
• Driving Reliability Deficiency Analysis (an evaluation of asset performance to determine the optimum improvement course for reliability improvement).

Reduce Maintenance Costs by:

• Reducing worker overtime hours
• Lowering percentage of waste spoilage (defect elimination)
• Reducing equipment downtime
• Increasing planned vs. reactive maintenance (unplanned)
• Reducing spare parts inventory
• Track warranty information

Help facilitate Defect Elimination Tracking by:

• Eliminating basic defects
• Eliminating operational defects
• Eliminating maintenance defects
• Eliminating design defects
• Eliminating defects by mistake proofing

Improve Customer Satisfaction by:

• Generating automated alerts when customer requests are approved, rejected and completed
• Routing requests to designated individuals for approval
• Scheduling customized emails and surveys to be sent to customers

For even more information on asset management, including ISO compliance, planning a capital replacement program and more, visit our library of recorded webinars.