Strategic asset management is a way of thinking that is based on the notion that physical infrastructure assets support business goals. Asset management is a key capability in this holistic view and is supported by BS 65000:2014’s Guidelines on Organizational resilience.
Whatever your goal is to reduce downtime, lower repair costs, boost productivity or increase equipment reliability, you can achieve all of them through efficient maintenance. To achieve this, you need to understand your current assets’ performance and requirements. This means creating a complete and complete inventory. It is also crucial to develop strategies to acquire new assets with an emphasis on their potential for long-term value as well as their alignment with the business objectives.
Once you have established a solid base, you must be ready to transition from reactive to proactive operations. This means avoiding common errors that a lot of organizations make mistakes, such as not aligning maintenance tasks with strategic goals as well as misinterpreting data or performing regular comparisons of reports from baseline.
You can avoid these mistakes when you integrate your strategic asset management into a computerized Maintenance Management System (CMMS), which is designed to connect all the pieces of your puzzle. You’ll then have the visibility and transparency you require to not only spot areas for improvement but also to bolster your case when it comes time to justify your budget request.