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Asset Management

5 Tips For Reducing Asset Downtime

By Dr. Alex Wong
September 13, 2023 • 3 min read
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5 Tips For Reducing Asset Downtime
Home 5 Asset Management 5 5 Tips For Reducing Asset Downtime ( Page 30 )
From time to time, assets decide to break down. We all know that this downtime occurs when we’re at our busiest. Assets somehow seem to know that downtime is the last thing we need. In addition to this, equipment, computers, machinery, vehicles, and tools, etc. break down as and when they please. As a result, orders can take longer to process, sales aren’t completed, and customers are kept waiting. The good news is that if you use the right asset register format you can reduce downtime. 

Below you can find 5 tips that will help you to reduce asset downtime from today.

Know What Assets You Have

One of the first things that you can do is to know what assets you have. When you know what you have, you’ll know if you have a replacement asset. Let’s imagine that one of your conveyor belts breaks down. If you have a replacement belt you can attach it to the machine or move operations elsewhere. What this means is that you could still fulfill the orders and have less downtime. 

When you use a reliable asset register format you can see exactly what you have. So, if something does break down you know how many replacements you have. You’ll also know whether you’ll have the right tools to fix that broken down conveyor belt.

Business Asset Tracking

Use Asset Tracking Software

Another really useful way to help reduce asset downtime is by using asset tracking software. Software such as this can help you to understand which assets are being used and which are undergoing maintenance. Additionally, it can allow you to send tools, equipment, machinery, etc. to maintenance should you need to. 

Did you know that a digital asset register format could allow you to leave notes about equipment? If you used a hammer drill, for example, and it wasn’t working well, you could leave a note for the next person. You could tell them to make sure the drill bit is in properly. You could mention that the drill needs to be fully charged before use. You could tell them whatever you wish using the asset tracking software. So, the next time that hammer drill is used, someone will know exactly what to do.

Set Up A Maintenance Schedule

A really good feature of many an asset register format/software is they often allow you to set up schedules. A maintenance schedule will undoubtedly be useful. A schedule such as this can tell you which asset needs to be looked over and help tools to stay in a better condition. 

You could, for example, set up a schedule for each asset at intervals that are ideal for them. For example, that hammer drill could be scheduled for maintenance every six months. A vehicle could be checked out once a year. Your conveyor belt and the rest of the production equipment could be examined every 3 months. The choice is ultimately yours. However, when you do set up a maintenance schedule you could find that downtime is minimal. All of your tools, equipment, and vehicles, etc. will be taken care of. Issues and faults are more likely to be found and dealt with. Consequently, downtime could be reduced and productivity can increase.

Use Pre-emptive Maintenance

Pre-emptive maintenance is ideal if you want to reduce downtime. Pre-emptive maintenance is all about being one step ahead. So, if you think a computer or laptop isn’t working well, get it checked out. If you think a tool is less than perfect, send it to the maintenance department. Alternatively, you could leave the maintenance department a message via your chosen asset register format/software. Then, the maintenance team can advise you as to what you should do or retrieve the tool and examine it. All of this could result in fewer assets breaking down at the most inconvenient time.

Check Everything In And Out

The last and one of the least considered options for reducing downtime revolves around checking assets in and out. When you check equipment in and out you can see which ones are about to go for maintenance. If that hammer drill has died, you may be able to see that it’s on its way to be repaired. As a result, you could look for another drill to use instead.

When you check everything in and out you can also see who’s using which assets. You’ll learn whether you have to wait for the asset and even if there’s an issue with them. This feature saves downtime by showing you which assets can and can’t be used. You can also see which assets are being repaired and whether they’re likely to come back any time soon. As a result, downtime can be reduced and you can get on with the task at hand. 

Wish to speak with someone knowledgeable about a new asset register format that reduces downtime? Contact us now at team@itemit.com 

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Dr. Alex Wong

Article by

Dr. Alex Wong

Dr. Alex Wong is the CEO & Co-Founder of RedBite Solutions, a spin-out from the University of Cambridge and creators of itemit.For more than 2 decades, Alex’s innovations have disrupted industries and reimagined traditional solutions, delivering breakthrough results.A pioneer of the RFID EPC Network and IoT, Alex has shaped modern tracking technologies. RedBite powers the world’s largest RFID deployment across 60+ countries and launched itemit, a leading barcode, QR code, GPS & RFID SaaS tracking platform. Dr. Wong holds a PhD in Engineering from Cambridge and remains an embedded researcher, leading EU & Innovate UK projects to bridge research with real-world applications.

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