Asset Management Eye

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How to gain efficiency in your maintenance management

One of the quickest ways to become more effective with your maintenance management is to incorporate a mobile handheld tool with your maintenance software.   With the latest in mobile devices, you are able to sync with your CMMS and view and update real time information. 

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How to be more proactive with your maintenance management

Maintaining all the assets in your facility can be a daunting task.  If you have a lot of machinery it can require regular work to keep it in prime performance.  Additionally, there is the occasional unexpected breakdown that often requires quick action to get your production back on the right track.  The most efficient way to deal with your equipment of course is to be proactive and try and head off any problems that are foreseeable.  Some key actions that can help you be more proactive include:

 

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Spreadsheets aren’t a complete asset management tool

Does your business still have a widespread reliance on spreadsheets? According to research by Financial Director magazine, 62% of respondents are still using spreadsheets as their primary means of managing fixed assets. Read More…

Why consider a CMMS?

Are you a facilities or maintenance manager who keeps hearing about CMMS and you’re wondering what the big deal is?  Well, if you haven’t started to explore Computerized Maintenance Management Solutions (CMMS), you may want to consider beginning the search.  A CMMS will help you: Read More…

Demystifying RFID

Radio frequency identification (RFID) tagging may still seem like science fiction, but it has become quite prevalent already and you probably encounter it on a daily basis.  Do you use a pass for tolls on your commute? Or maybe you have a pass for public transit?  Do you have a key card to enter your office building? Have you checked out a book at the library lately that didn’t have a barcode?  These are just some of the examples of how RFID tags are being implemented across organizations.  So, how can you use RFID?

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What enhancement for your fixed asset management should you consider in 2013?

If you’re looking to get more out of your fixed asset management tools this year, consider adding a Business Intelligence (BI) tool.  Having correct data about your assets is essential, but being able to understand and decode the meaning of your information is priceless.  BI helps you  interpret your data quickly by presenting it in visual graphs, charts and tables.  You can match this information up with your Key Performance Indicators (KPIs) and find ways to improve productivity and cut costs. 

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How are you going to save time this year?

What is the one thing we all wish we had more of?  Time.  There’s never enough time to get everything done.  So, how are you going to save some time in 2013?  We suggest changing your fixed asset auditing process.  If you are currently using a printed out list and walking around your office, factory, or warehouse with a clipboard and pen, you’re wasting precious time on something you can easily simplify. 

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What are your new resolutions for the New Year?

Happy New Year!  Have you already set your New Year’s resolutions for 2013?  If so, did you include anything for work?  We would suggest starting with your fixed asset management.  If you can get your fixed asset information cleaned up and accurate this year, you can start seeing cost and time savings from more accurate financial records, depreciation calculations and well timed maintenance, disposals or acquisitions.  Here are some of our suggestions for resolutions that can help you on your path to fixed asset management:

 

  1. Conduct a physical audit.  An audit will help you account for what you actually have and clean up your asset register to get rid of ghost and zombie assets. Once you have an up-to-date and accurate register you can properly manage the assets that you own.
  2. Replace your Excel spreadsheets with secure asset management software.  Using spreadsheets opens you up to many mistakes.  You have no trail of changes and with spreadsheets often opened and edited by several people, you are exposing your data to risk with spreadsheets.  This undermines any confidence you may have for complying with SOX or IFRS requirements. 
  3. Add barcodes or RFID tags to your fixed assets.  This will greatly increase the speed and efficiency of your next physical audit!  When you use a scanner with barcodes or RFID tags, an audit can be completed in 80% less time than if you do it manually with pen and paper.

 

Need more information about completing a physical audit?  Instantly download our free whitepaper here.

The 1 tool that can simplify your asset tracking

With one tool you can cut down on the time it takes you to locate your assets, cutting your physical audit time by 80%.  What is that one tool?  It’s a handheld scanner.  Whether you opt for a barcode scanner or RFID scanner/reader, this one tool can significantly reduce the work involved in managing your fixed assets.   Read More…

Did you know about these 3 physical audit benefits?

One of the best practices you can introduce into your asset management policy is conducting regular physical audits.  Physical audits are an essential step in cleaning up any variances that exist between what you may be financially accounting for on your asset register and what you actually have physically present.  In addition to providing a basic need of asset management, physical audits can grant extra benefits.  Here are the top 3 bonus benefits of an audit:

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