Strategic asset management is an approach that is based on the idea that physical infrastructure assets help achieve business goals. This holistic approach, supported by the BS 65000 Guidance on Organizational Resilience, considers asset management as one of the most important capacities that can contribute to the organization’s resilience.
Whatever your goal is to reduce downtime, lower repair costs, boost productivity or increase reliability of equipment, you can achieve all of these by implementing effective maintenance. You must first understand the performance and requirements of your assets. This means creating a complete and complete inventory. It is also essential to devise strategies to acquire new assets, putting an focus on their long-term worth and their alignment with the business objectives.
Once you have an established base, you must be prepared to make the shift from reactive to proactive operations. This means staying clear of the common mistakes that many companies are caught in, such as not aligning maintenance tasks with goals for the future or misinterpreting data or performing regular comparisons of baseline reporting.
Avoid these pitfalls by incorporating your strategic asset management strategy into an automated maintenance management system (CMMS) that’s designed to connect the different pieces of your operational puzzle. You’ll then have the transparency and visibility required to not only find potential areas for improvement but also make your case stronger when you need to justify your next budget request.
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