Asset management is the process of tracking and managing assets such as computers, furniture, vehicles, machinery, equipment, and plants. This can be done through the proper utilization of asset registration, physical tagging, asset tracking, auditing, scheduled maintenance, preventive maintenance, asset movement and depreciation.
Asset registration and barcode labelling are two important pieces of any asset management system. By registering assets and labelling them with barcodes, organizations can keep track of their assets and ensure that they are properly accounted for.
Asset labelling is the process of assigning a unique identifier to each asset. There are various technologies used for asset tagging, such as Barcode, QR code, RFID, Geo location. Asset registration is the process of assigning a unique identifier to each asset. This identifier can be used to track the asset in the organization's asset management system.
Organizations use asset management systems to track and manage their assets. Asset management systems can help organizations keep track of their assets, their location, and their condition. By keeping track of these things, organizations can make sure that their assets are being used properly and are in good condition.
This includes both physical assets, such as equipment or vehicles, and intangible assets, such as copyrights, trademarks, or patents, and consumable assets, such as print cartridges, paper, etc. Physical assets can be transferred from one location to another location, or simply changing the ownership (custodian).
Asset auditing is the process of reviewing an organization's assets to ensure they are being used effectively and efficiently. This can include physical assets such as buildings, equipment, and inventory, as well as intangible assets such as Intellectual Property (IP), goodwill, and brand.
Organizations may choose to conduct an asset audit for a variety of reasons, such as to improve asset management practices, to identify areas where cost savings can be realized, or to ensure compliance with regulatory requirements.
The asset audit process typically begins with the development of an audit plan that outlines the scope and objectives of the audit. Once the plan is in place, the auditor will collect data on a mobile device (hand held terminal) by scanning the asset label (tag) and capture the asset to fulfil the audit checklist. Once the auditing is complete, the audit report will be generated. The report also includes an assessment of the company's asset management practices
Enterprise asset management can be a complicated process, requiring an array of different tools that all need to be used together in order to effectively manage your assets. FieldNXT asset management system should allow you to record data from the various systems you use and then make it easy for people within your organization to access this information when needed without having to enter data manually into separate systems.
Meter-based maintenance is a type of scheduled maintenance that is based on a meter reading, such as hours, miles, or cycles. This type of maintenance is typically performed on a regular basis, such as every 5,000 miles or every six months, in order to keep the equipment in good working condition.
Time-based maintenance is a type of scheduled maintenance that is based on a set amount of time, such as every six months or every year. This type of maintenance is typically performed in order to keep the equipment in good working condition and to prevent any major issues from developing.
Equipment Preventive Maintenance is a proactive and preventative approach to maintain the health and reliability of engineering assets. Asset preventive maintenance is a process that includes identifying and addressing potential problems before they cause major failures and/or negative consequences. Which includes monitoring key indicators such as vibration, temperature, and oil quality, preventive maintenance can help identify potential issues before they cause problems. By taking a proactive approach to maintenance, organizations can improve equipment reliability and avoid costly downtime.
There are many benefits to implementing Equipment Preventive Maintenance, including:
Equipment predictive maintenance for engineering assets can be a valuable tool for improving equipment reliability and reducing downtime. Predictive maintenance is a field of maintenance where data is collected from various sensors to monitor the health of equipment. This data is then analysed to predict when a piece of equipment is likely to fail. By performing maintenance before the equipment fails, downtime and costs associated with repairs can be reduced.
IoT (Internet of Things) is a network of physical objects that are connected to the internet. These objects can be equipped with sensors that collect data about their surroundings. This data can be used to monitor the health of the equipment and predict when it is likely to fail.
By using IoT to collect data from sensors, predictive maintenance can be performed more accurately. This can help to reduce downtime and costs associated with repairs.
Asset lifecycle management is a process for managing an asset throughout its entire life, from acquisition to disposition. Asset lifecycle management encompasses all activities related to an asset, including its procurement, deployment, operation, maintenance, and retirement. Asset lifecycle management is a critical part of any organization's asset management strategy. By managing assets throughout their life cycles, organizations can ensure that they are getting the most value from their investments.
Organizations must carefully consider their assets' lifecycles when developing their asset management strategies. Acquiring assets is only the first step in the asset lifecycle management process. Organizations must also plan for how they will deploy, operate, and maintain their assets over time.
Asset lifecycle management is a complex process, and there are a variety of tools and techniques that can be used to manage assets throughout their life cycles. FieldNXT platform offers fully integrated personalized solutions for organizations that best fit their needs and objectives.