A Study Shows that Managing Your Assets Is Becoming More Important
November 29th, 2009 at 11:08am Under General
Companies all around the world are being affected by the current global recession, managing your fixed assets UK and getting the most money out of them has never been more important. Many companies are seeing that fixed asset management is becoming more of a competitive edge as each company tries to get the most out of their assets.
This need for more efficient asset tracking UK has led to more and more companies using real time asset management solutions. By knowing the latest information about your assets, you can make informed decisions to avoid making poor deals. It has also led to more companies using asset management services like reliability centered maintenance (RCM) or condition based maintenance (CBM).
RCM is a way of assessing your assets and trying to ensure that equipment failure that could damage the business does not happen. RCM looks at what and how the item is used within the company. It then looks at how a failure of that equipment occurs and how it effects the business. Finally, it looks at how the equipment failures could be avoided.
A study named: “Asset Performance Management: Driving Excellence Though a Reliability Approach in Real Time” has been carried out by the Aberdeen Group. The study looked into companies and ranked them based on a number of different factors, overall equipment effectiveness, unscheduled asset downtime and finally complete and on-time product shipments. The study found that the best companies managed a 89% equipment effectiveness, 97% complete and on time shipments, and finally only 2% unscheduled asset downtime.
The study also discovered how the best companies will use a range of managment techniques to get the most data about their assets. There are a number of different technologies that are used by the best companies. It was discovered that many of the top performers would happily invest money in more advanced methods of asset managment, such as remote asset monitoring.
These technologies aid companies with getting the latest asset information to help their employees make informed decisions. This means that the companies can use the data from their assets to make informed business decisions. It also allows the companies to see how the impact that their assets have on their financial earnings.
The requirement for different methods of asset tracking has led to companies offering different types of asset accounting UK software to aid your business manage your asset data.
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