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The Ultimate Guide to Asset Management

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If you had read my earlier post “A New Hope: Top 6 Things I Learnt At NRC 2015 Mumbai“, then you would have also read my learning from Naushad Shikalgar of J.N.Engineering – ‘Proactive Machinery Maintenance is not an expense and is an investment that has long-term benefits’.

Maintenance is important in any organization. Without proper maintenance, assets deteriorate over time reducing the quality of your output produced. It can also impact the safety of your asset or your people who operate it.

Traditionally, maintenance has been viewed as a cost center in an organization because it costs you money to hire maintenance technicians and purchase the spare parts to keep your systems running smoothly. Too often, senior executives ignore the value-add that maintenance can bring to your organization. These include:

  • A reduction in reactive maintenance costs
  • Reducing costs to restart production after a breakdown
  • Limiting production scrap
  • Costs of downtime such as missed orders and lost revenue
  • Customer perception/satisfaction
  • Improved quality of products
  • Reduced environmental impact

 

By definition, Asset management is a systematic process of deploying, operating, maintaining, upgrading, and disposing of assets cost-effectively.

During his talk, Naushad spoke extensively on Asset Management Strategy-Plan-Execution including the various approaches to maintenance that I found interesting and hope you too would like it when you read. Hence, I have reproduced the 34 slides (click on the picture below) here that effectively forms a comprehensive guide on asset management.

Asset Management

Click on Image

Summarizing, asset management focuses on assuring your people, parts and processes are optimized to improve asset performance. Reducing inventory, maintenance costs and the number of downtime events raises your productivity, while simultaneously driving financial performance and predictability. It also helps your employees with the right tools to make good decisions about driving your plant performance.

Do you agree? How do you look at Asset Management?


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Author: Prasanth Warrier

Co-Founder | #B2B Strategy, Marketing & BD Consultant | Speaker | Trainer | Enjoys Traveling, Reading & Meeting People | #SocialSelling | #Blogger | Knowledge Sharing | Blessed with Loving Family & Friends | Voracious Reader | Business Leader serving Rubber Industry

7 thoughts on “The Ultimate Guide to Asset Management

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