Your assets are some of the most valuable parts of your business. They quite literally keep the lights on. Taking care of your assets means taking care of your business. That’s why it’s important to have a structured, effective asset maintenance management plan in place. Discover our top tips for great asset maintenance management.
Why Is Asset Maintenance Important?
Effective asset maintenance prolongs the lifespan, enhances the performance and of your assets. For machinery, this means fewer breakdowns and less subsequent repairs. For an office space, this means a clean and comfortable workplace where your team can be their most productive. Performing asset maintenance means keeping your asset in great working condition and ensuring their repairs and replacements are up to date. Good asset maintenance management translates into a smooth-running and efficient workflow, ensuring your organisation is functioning at its best and most cost-effective!
5 Tips for Asset Maintenance Management
Create a Database
It’s essential to create a database or register of your assets so you can store all the necessary information associated with them in one centralised place. You can use the database to add relevant documentation such as user manuals and insert descriptions of your assets so your employees or clients can view associated data after each scan. Plus, with asset tracking software, every time you scan an asset its record of location will be automatically updated.
Collect Data
With asset tracking you can stay informed about asset behaviour and gain analytics throughout the lifecycle of your assets. Collecting data on your assets will enable you to make informed decisions that can lead to cost savings and improved performance with smarter maintenance schedules.
Preventive maintenance is more effective than reactive maintenance. Understanding an asset’s lifestyle will enable a maintenance team to perform preventive maintenance at critical points in the cycle that can expand or enhance the asset’s useful life. Tracking the lifecycle will also help you plan and prepare for an asset’s eventual breakdown and the get funds together for its eventual replacement.
Set Up a Maintenance Schedule
During the operational phase of an asset’s life cycle, it is important for organisations to keep up-to-date on asset maintenance. However, often organisations can be reluctant to do so. Maintenance is a business expense that can cut into profits. Overdoing it can bring significant costs. On the other hand, under-maintenance can lead to reduced productivity. Maintaining up-to-date records of assets helps to prevent asset downtime, which ultimately increases productivity and keeps costs down. Plus, users can set up maintenance schedules in advance and be notified when routine repairs are due.
Equip Your Team With The Right Tech
In order to implement asset tracking and preventive maintenance schedules as strategies for successful asset maintenance, you need to invest in your team and the technology to support them.
Investing in your technicians will ensure the maintenance work is properly performed and recorded. Every facility leader can agree that great training leads to well-prepared staff, but training runs deeper than just knowing how to perform maintenance. For successful maintenance operations, proper training also means ensuring your team has (and understands how to use) the technology in place to best do their jobs.
Implement Inventory Tracking
Effective inventory tracking underpins the success of any business. There is nothing more frustrating than starting a project just to realise you don’t have the necessary parts needed to complete the job. An effective inventory tracking system ensures you rarely face this type of setback when performing asset maintenance.
Implementing inventory management software will ensure you’re able to effectively manage your assets. The software will automatically reduce inventory when maintenance projects occur that require certain parts and keep track of stock levels.
itemit’s Asset Maintenance Management
itemit’s cloud-based and user-friendly asset management software is the tool you need to optimise your operations. Good asset maintenance management will allow for better planning, more accurate forecasting, and protect your business from spiraling costs. Developing, operating, maintaining, and repairing assets in a cost-effective manner will ensure your business is functioning at its best. With up-to-date online profiles of your assets your business can drastically extend the lifespan of its assets and maximise the return on investment.
If you would like to learn more about itemit’s asset management software, contact our friendly and helpful team today. You can reach them at team@itemit.com. You can also sign up for our 14-day Free Trial by filling in the form below.
Asset Maintenance Management
Choose a better way to track your assets
Start your free 14-day trial now
Instant access. No credit card details required.
or, download the itemit app to get started
Related articles
How to Implement Real-Time Asset Tracking Solutions: Guide with Professional Tips
Tracking assets in today's fast-paced corporate world is not just about convenience; it's essential for maintaining efficiency and reducing costs. Tracking assets in real time helps you make better, data-driven decisions whether you are handling tools, inventories, or other vital resources. Often based on manual procedures or periodic updates, traditional asset management techniques simply cannot meet the demands of contemporary companies. From basic ideas to the application of cutting-edge...
Strategies for Managing Obsolete Inventory
Let's go over the management of inventory, as, in every company, it is one of those behind-the-scenes heroes. When addressing the smooth running of a company, inventory management usually comes first as the pillar of maintaining control over everything. This is an approach that guarantees you have just the correct quantity of stock on hand to satisfy consumer demand without stuffing your storage capacity with surplus items. Whether your organization is a big factory or a tiny retail store,...
Key Benefits of Implementing Remote Inventory Management
For companies, inventory management has always been a major difficulty, but recent technological developments have created new opportunities. One revolutionary tool that lets businesses monitor and control their inventory without physical location ties is remote inventory management. Real-time data availability, cost-effectiveness, and improved asset control are just a few of the clear benefits this change from conventional approaches presents. The main advantages of using remote inventory...