Share with Others

asset management systemWith only 2 posts remaining, let us continue with the story of Kris Camden and the Shelivay asset management system.

Preserve and Maintain Assets 

Waste was a rampant issue at Shelivay because they didn’t track and maintain their assets.  Technicians were waiting around for equipment, tools weren’t available, or they were doing the same job twice because asset maintenance wasn’t properly recorded. This principle holds true in everyday life. Consider budgeting, as an example.  As you reconcile your bank statement and realize funds are low every month, you start tracking your spending more closely and figure out how to cut waste.  The same concept holds true for your asset management system.   Assets are one of your organization’s largest investments and must be preserved.  Kris was making desperate instead of informed decisions about needed repairs and when to replace assets.  This had a negative effect on their bottom line.

After Asset Management System Policies:

  • A standard is set as the workforce tracks not just the age of equipment, but also logs machine running hours and repair costs.
  • An effective maintenance strategy is developed as asset performance is monitored based on the type and health of the individual assets.
  • Historical and real-time asset data improves decision making.
  • Contracts, warranties, alerts, and pending expirations are associated with their respective assets.
  • Increased tax write-offs due to depreciation tracking.
  • Asset reporting gives the summary and details to justify budget decisions to replace or upgrade equipment as well as evidence to justify requests for additional staffing.
  • Technicians working in the field can easily access real-time Mobile workers can manage their own work orders and track assets, downtime, and costs.
  • Technicians manage their assets, enabling quick answers to problems, corrections, and repair documentation.

According to LNS research, operational excellence is extremely difficult for organizations that do not incorporate asset performance strategies.  It’s a matter of preventing the failures before they happen and achieving the lowest life-cycle cost for every asset.

When issues are identified before becoming a major problem, the company becomes a proactive and predictive environment.  How can you predict equipment fails?  A “Back-to-the-Future” time machine would work, but using a maintenance system is a close second.  A system that almost guarantees your equipment is performing flawlessly and predictably is pretty close to predicting the future.

Finally, she no longer subscribed to the old adage “if it ain’t broke, don’t fix it,” now her motto was “fix it, so it won’t break.”  With the help of an asset management system, Shelivay was transformed into an organized manufacturing plant.  Business not only improved, it excelled.  Ultimately, morale was high, supervisors were happy, and Kris was finally able to strategically make plans for the future of her company (& plan that unobtainable vacation).  Contact Novo Solutions today to learn more about what asset management can do for you.