Asset Management - save money and improve productivity

Asset Management - save money and improve productivity

Asset Management Can the tool every business used to save money and improve productivity

for most companies, and efficiency Track or installed base of equipment during the service, and management of spare parts inventory of the key factors in determining the internal productivity and profitability prospects of customer service. However, many organizations do not use after the process of a comprehensive asset tracking and management to ensure the availability of quality data that can be used to generate business information that can save them money eventually and improve efficiency. This is unfortunate, because the tools are readily available - it is just a matter of making it a priority.

What is asset management?

There are many definitions of "asset management", despite the fact that most deal primarily with financial considerations. Some are based on advanced maintenance management systems; some configurations to manage equipment factory floor; and some for the purposes of network monitoring equipment or even a rail car and container sites. However, no matter what the situation or the application of your business deals with, is still the core of a fixed definition. Asset management is a "methodology for the identification, classification and monitoring, maintenance and operation, development and replacement of the physical assets of the company on the basis of effective cost process."

in order to be truly effective, must be based asset management process on the basis of accepted accounting principles on a large scale, and supported by the right mix of sound business practices and financial acumen. And that the administration can provide an effective tool that can be used to extract the best short and the decisions of long-term planning. As such, it is something that every business should consider adopting - and embrace.

after years of studying and supporting information technology (IT) needs and requirements of customers in all key areas for action, and we prefer to asset management sets a more dynamic way, including each of the following four key elements:

• and empowerment to generate and maintain the critical data management to be used internally by the company, as well as with customers and suppliers (such as installing or maintenance entitlement database) involved in it.
• a comprehensive process to acquire, validate and accommodate data in corporate information systems.
• flexible system allows any manual gain and / or electronic capture and reconciliation of data.
• program with accurate and intelligent reports of significant operational and business information.

asset management is not just identify and record the information technology and equipment related; it is the process of making assets, which owns most of the work productively - and profitable - business. Moreover, it is not a system you can buy. But, instead, and business discipline to empower people, process, data and technology.

What are the signs and symptoms and impact bad asset management?

poor asset management leads to poor quality of the data - and the poor quality of data that can negatively affect the business over time. In fact, experience shows that there are a number of common causes that can lead to poor asset management, including the lack of controls to manage the work and / or update asset data; lack of ownership of the asset quality data. And out-of-balance investment in people, process, data and technology. In addition, some companies asset management may not consider to be an important function, with a focus on all audits; while others may not consider the asset data to be an important component of the intellectual property elements of the business.

The initial symptoms to manage poor assets are also everywhere to some extent, and can include anything from many of the compliance and security issues, and on capital can not be controlled and / or budgets account, and over the network crashes and poor performance, and assets less or use more, incompatible software applications, and increased operating costs and size, and asset data matching and not derived from various organizations and / or labor regulations.

Moreover, it can be ongoing practices poor asset management affect the business through degrading delivery of customer service, and the pollution of the existing installed base of data and resources distracting with customer data issues, for example, sales, it may be the weakness of the provision of services by sparing flour warehouse customers create entitlement issues, and increase the escalation to senior management and reduced customer satisfaction. Base install certain lengthen renew the contract cycle time and limits the opportunities for income and prevents updated technology planning. As a result of the management of poor assets can be ultimately destructive for the business, and often leads to one or more of the following negative effects:

• increase asset total cost of ownership (TCO)
• drop productive workforce
• issues of increasing non-compliance (ie sulfur)
• decreased customer satisfaction
• the lower the return on investment (ROI) on capital investments
• drop network / business performance
• increase the number of internal and external audits

causes of poor asset management can be many. Symptoms prevalent. And the results are devastating. However, the good news is that there are specific solutions available that can help any organization to avoid these pitfalls.

Petro asset management process

just "chasing data" is a weak substitute for a formal program for asset management, can be a daunting and expensive and not very rewarding task. In order to achieve the full benefits of the asset management program, the first order of business is to move the paradigm shift away from the cleaning of a large block projects, reactive and ineffective generally can usually accomplish little or nothing. And instead focus on the implementation of a series of planned operations, proactive cooperation with the client or a senior partner or service provider. There is a need for something more. This is something more than that is the official asset management process.

assets that are ultimately selected for use by the organization management tool that should be one that meets their specific - and sometimes unique - needs. This is obviously a case where "no one size fits all." Whether the situation calls for just the improvement that has occurred to the Tool menu, and re-engineered or revised process, or a completely new approach, and the needs of each institution must make an accurate assessment and evaluation, and must be designed customized and implemented to achieve the best results solutions.

Some organizations may already have the internal skills and experience needed to build asset management solutions on their own, while others will need to look for professionals with significant experience in the design and development of certain types of processes and applications that will be required, starting of data mining, to accommodate the data, and the development of associated systems and implementation. Although many of the solutions might look good on paper at the beginning, "the devil is in the details", and the details will play a crucial role in the prospects for successful implementation.

designed either internally or through an independent systems integration, implementation will need to focus on specific aspects of the analysis, and the development and preparation of reports to ensure the provision of integrated solutions and their implementation. Many companies mistakenly believe that they can build an effective tool almost Asset Management "out of the box." However, while the concept easily enough to understand the unique environment of information technology and the complexity of each organization is like this, there will be a need for outside help in almost all cases.

to address the many complexities that determine individual business organizations, we have developed our own asset management process, known as Petro. Includes five main areas of focus, Petro, using Six Sigma approach, can serve as a basis for the design and implementation of an effective solution for asset management end to end. And include five major components:

1. P - before inventory: review and junior high from the ground up - check and verify the company's assets, spare parts, inventory, and records of installed base and requires a data reference; Create framework for an inventory and audit network or data mining; create a baseline for comparisons.
2. E - extraction: the client's network to get the data - to acquire data from physical inventory, and tools for computer network or database record extracts in different forms of discovery.
3. T - translation: Draw maps data - map and repeat data from the acquisition of the shape to a form that can be matched to the fundamental data of the company explanation.
4. R - Reconciliation was found to reconcile and liberation - to validate the inventory / extraction to baseline results. Matching and validation inventory / extraction to the baseline record company, and generate user reports associated with the results.
5. Oh - the original absorption: conversion, merging and load - a process to accommodate the data to corporate systems; transforming reconciled data to the defined data elements with attributes and values ​​are consistent with the company's data and definitions requirements; data integration into a unique cases, standardized, data tariff to meet business data requirements. Download, integrated source of data transferred to the company's records.

The first corridor of the process of Petro defines "clean" baseline records that must be maintained over time. Since the success of any solution to asset management in the long term is directly related to the quality of maintenance continuous data used for the program, it must be designed interfaces process and the system of which to support the continuous updates represent the data for the company databases through certain points of contact where is updated assets or change data. In other words, you should not can ensure data quality throughout the entire process, but the ability to resolve to maintain the quality of the data over time, and through all the individual points of contact, and it must be protected.

ongoing asset management at the touch points of the process

solutions and ongoing asset management (also known as moving, add, change or delete -MACD process is a simplified version of Petro focused on the ongoing control processes, a consistent process of repetition, owned mutually by managers contact points (both within and outside the Organization) and the master database of record. it should ensure the quality of data updates through processing in a timely and effective to update records (Delta).

in cases pass data between the different organizations, should take extra care to develop a collaborative process in a transparent and ensure the quality of data updates. must be the depth and complexity of Petro process commensurate with the size and frequency of updates as well as data hygiene at the contact points. can processes ranging from customer self-service accounts for small management fully cooperative large accounts with heavy volumes and issues frequent data quality.

components key current assets management process

key factors of the process MACD consists of the following four elements:

1. and extract comprehensive and translation of data and reconciliation process - the development of each of the processes and standards for the collection of data updates (electronic or manual). - The performance of automated or semi-automated, and the process to validate and compile and reconcile the results. - The establishment of data management MACD to store and keep track of temporary records during the ongoing operations of Petro - develop automated case reports in all stages of the process transparent to all points of contact MACD - formatting data updates in the contact points and / or outside the sites (customers).
2. process, policies and development procedures - making analyzes the asset management process MACD required assessments at all points of touch. - Design and development processes and capabilities to support the implementation of Petro. - Determine the required policies and procedures in the asset management process for both the near and long term.
3. requirements / systems development - the development of all the functional requirements and regulations. Coordination and involvement of information technology in the development of an automated system to analyze and extract, transform and reconciliation and the absorption of the company's data. - Development of models and work systems, as needed, to support the asset management process.
4. data maintenance - development of processes to support asset management process for the implementation of the long-term, including ongoing maintenance and data integrity. - Development of Performance Monitor meaningful assets and operations control.

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