Asset Management. What is the definition of an asset?
The dictionary defines it as:
‘Any item of economic value owned by an individual or corporation, especially that which could be converted to cash. Examples are rolling stock, airplanes, cars, inventory, office equipment and real estate’.
In order to maximize their conversion to cash, we ‘manage’ the assets.
Enterprise Asset Management (EAM) entails the life-time optimal management of an organization’s physical assets for the purpose of maximizing their value. Asset Management can provide a comprehensive overview of all asset types across your enterprise. It allows you to view all your assets as well as identify all of their untapped potential. You gain the necessary knowledge and control to closely align your organization’s goals with the overall goals of your business. In order to maximize return on assets, Asset Management enables you to develop comprehensive programs for preventive, predictive, routine and unplanned maintenance. Together, these programs contribute to your goals of reducing costs and increasing asset uptime.
Why employ Asset Management?
When using Enterprise Asset Management to help maximize the performance and life-time value of complex assets and closely align them with your overall business strategy, the end results are:
- Improved return on assets.
- Decreased costs and risk.
- Increased productivity.
- Improved asset-related decision making.
- Increased asset service delivery responsiveness and revenue.
- Facilitated regulatory compliance efforts.
- Lowered total cost of ownership
Thanks to OXplus B.V.’s experience gained from many different large-scale EAM projects, we believe that switching from historical reactive (run-to-failure) models to embracing life-time planning, lifecycle costing, planned and proactive maintenance and other industry best practices will support achieving your company’s business objectives.