Assets are your organization’s largest investments and must be preserved. Asset maintenance management software reports give visibility into the life-cycle of an asset. Do you want the decision to make a repair or replace an asset to be an informed or a desperate decision? What would happen if you drove your vehicle every day, but neglected to get the oil changed? Breakdowns and expensive repairs would rapidly follow. For this reason, a preventive maintenance system is a necessity, not a luxury. Asset management cost reporting is not simply a “nice to have” feature, it’s a “must have.” With inadequate asset maintenance management software reports could mean the demise of more than just your equipment.
What do asset maintenance management software reports actually accomplish? Per Reliability Web — It determines the most cost-effective strategy to address the care of every asset within its operating life.
It’s that simple. So, how do you currently track and report on asset maintenance costs? A spreadsheet, a paper log, or perhaps an outdated solution. A great asset maintenance reporting tool will provide the summary and details needed to justify budget decisions to replace or upgrade equipment. Additionally, it will also provide evidence to justify requests for additional staffing (if appropriate).
Benefits of Tracking With Asset Maintenance Management Software Reports
Preventative Maintenance Reports:
- Check scheduled PM’s that are due at a specific time. Use filters to narrow the report results further–such as next PM date, equipment type, location, and more.
- Schedule a report based on specific time intervals to stay on top of tasks and automate status updates to supervisors of overdue PM jobs.
- Set specific reporting filters to forecast preventative maintenance resources, tools, labor, and parts required for upcoming work.
Equipment Analysis Reports:
- Report on repairs and preventative maintenance performed over the entire lifespan or a specified time frame.
- Run equipment maintenance reports based on how frequently equipment requires service and use the data to add additional PM’s on heavily used equipment.
- Analyze contributing factors for maintenance costs by equipment type or problem area to manage operational cost.
Labor Analysis Reports:
- Report on service agreements, warranty expiration’s, inspection status, and completion.
- Optimize work schedules and lower overtime costs within specified time/date ranges.
- Stay on top of employees with reports on estimated and actual work time for completed work orders.
- View the entire year of preventative maintenance and adjust worker’s schedules to balance the workload.
Reporting on asset maintenance costs is essential to your organization’s budget and financial plan. Asset Maintenance management reporting enhances the decision-making process and available resources that support long-term goals. It also represents the long-term commitment of funds, labor, equipment purchase, and changes that will benefit your organization for years to come. Having faulty data or no data hinders the ability to make good decisions.
Novo’s ShareNet Platform with Advanced Reporting makes it easy to create asset maintenance cost reports specific to your situation. Because reporting criteria are selected, you gain valuable insight to improve asset maintenance management methods, productivity, and profitability. Schedule a demo today.