Asset Lifecycle Management

ANALYSIS TO MAKE INFORMED DECISIONSAsset Lifecycle
Management

Asset management is vital to the long-term success of a company because it helps the organization monitor and manage assets using a systematized approach.

Every asset within an organization is acquired for specific business objectives. Assets go through various life cycle stages and, in each of these stages, the asset generates lot of data from operations, maintenance and condition monitoring systems. This asset related data can be compiled and analyzed, using various statistical techniques to get insight into overall performance. Depending on the industry, some assets are more highly critical. To optimize performance effectively during different phases of its life cycle, end users and decision makers require comprehensive timely analysis to make informed decisions.

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The Business Challenge of Asset Life Cycle Management

A significant business challenge is incorporating your data from multiple sources into an effective asset management strategy to easily analyze asset performance and maintenance requirements.

How to remain focused on your critical assets and ensure their optimal performance?
How to manage your aging assets and determine the right time to retire them?
How to accurately track your growing number of assets and their locations?
How to mitigate risk with respect to operations of asset and infrastructure?

“That is something that General Accounting handles.”

What happens if the maintenance unit is not directly involved in a robust Asset Life cycle Management Plan?

Reduced productivity & labor utilization, which quickly reflects negatively on your bottom line
Reduced availability of critical assets
Quality and compliance issues across the board
Idling and minor stop losses
Upward spiral in the cost of asset ownership within the enterprise

Why Asset Life Cycle Management from Asset Analytix

Asset management is vital to the long-term success of a company because it helps the organization monitor and manage assets using a systematized approach. Managed effectively, the benefits include improvements to productivity and efficiency, placing the business in a better position to improve their ROI.

“We already have a management program in place, but are having difficulty in fully tracking lifecycles.”

The benefits of partnering with us to implement a sound Asset Lifecycle Management plan with comprehensive tracking and reporting are phenomenal:

Seamless process for both asset acquisition and the retirement of used assets
Significant improvement in the performance, availability and longevity of your strategic assets
Improved asset maintenance and work dispatch
Enhanced business value of all your asset-dependent services
Improved decision-making as a result of a scientifically validated process to manage asset data
Reduction in capital project expenses, procurement of your assets and overall liability costs
Systematic assessment and evaluation of vendor performance
Deflation of costs associated with asset risk
Visible enhancement in the quality of preventive maintenance of your assets and improved inventory control
Reductions in your manufacturing costs by improving organizational agility
Asset registry management and asset documentation from a single window
Asset tracking that is both streamlined and conducted in real time as a component of your MIS
Improvement in the overall quality of asset maintenance and a reduction in liability costs
Noticeable difference in your project cycle times
Increase in operational productivity
Reduction in your service costs by increasing asset uptime and availability

Your enterprise will gain improved management of your assets and their lifecycles, including critical considerations such as:

Buying versus leasing of your assets
Work management
Inventory control
Acquisition of new assets
Compatible end-unit estimation
Location of your assets and their correct configuration
Preventive maintenance
Safety and disposal

Contact Us for a Free Consultation

Reach out to us to find out how you can put together a program that will help your organization maximize the savings opportunities through effective Asset Lifecycle Management.