Why We Overlook Asset Management Priorities

When order is called at the start of the next board meeting

, the chances are that asset management priorities are not at the top of the list. All too often, the issue is not set on the agenda at all as business executives relegate asset-management to out of date, tedious, manual and slow systems. It's amazing to think that they are unaware how this lack of attention could cost them, especially as they give plenty of attention to the actual capital costs associated with equipment purchase in the first place.

You have to monitor and manage every piece of equipment carefully if you are to understand its true value. Remember that the net efficiency of an asset is not just its ability to perform for its intended purpose, but rather it's energy efficiency in real terms, as well. This latter aspect is often overlooked but has plenty of hidden meanings.

If we are to discover the energy efficiency of any piece of equipment, we must set asset-management properties to a high level. Once we have established a benchmark, we can look at individual asset efficiency in real time and can start to see problems that we did not realize existed. For example, when equipment fails, we jump into action to try and stave off all the repercussions associated. If we had been monitoring the item, we would have seen that it was starting the consume more energy than normal, alerting us to problems ahead.

Whenever an asset fails, the associated downtime leads to a lack of productivity, expensive callout rates for technicians and other knock on effects. Indeed, other pieces of equipment may fail, as a consequence. Why is it that executives leave so much to chance by failing to focus on asset-management priorities?

Every company has to begin to own its footprint in environmental and societal terms. To start the process off, the real size of the operation must be revealed. This could be a very tough exercise if asset-management priorities are low and equipment inventory records out of date.

Before a carbon footprint can be established along the road to pure energy efficiency, each individual piece of equipment throughout the organization must be identified, categorized, tagged and monitored. The process of tagging by itself may make the business more efficient and more focused. In the case of a smaller mobile asset, there could be a clear vulnerability to theft or misuse.

It's true that when business expands, executives seem more inclined to leave certain systems as they are, as they focus on other, more pressing issues. They might feel that it would be difficult to establish an asset inventory under the circumstances. There are a number of dedicated teams, however, who possess experienced technicians and special software, specifically designed for asset surveying and tagging.

Energy prices grow at an alarming rate and it is only a matter of time before asset-management priorities are established to help manage this. Remember, that there is a growing call for sustainability and organizations need to look for every opportunity to become efficient.

by: Daniel Stouffer.

POST COMMENT

Kid's Birthday Party – Tips for Better Management Get The Reliable Ppc Management Services: Surge Ahead Ppc Management Involves Knowing When To Give Up Sugar Diabetes, Diabetes Management And The Diabetic Diet Fuel Cards Solve The Problem Of Cost As Well As Time Management. PdfDocs – A Quality Document Management Solution for all Format (Extension) Files Turn Your Planning Skills Into A Career With Event Management Advantages of Diester Patrol Management System Data Management and Research Services Vision Shopsters: Wealth Management for Non-Resident Indians 2010 Aarkstore Enterprise -outsourcing For Contract Manufacturing Services 2008-2023 Management Report Company Benefit Of Event Management Sydney Aviation Management Overview