Enterprise Asset Management is an emerging strategic tool enabling optimal utilization of assets contributing to business goals of an organization. Come join us as we uncover the hidden potential of Asset Management with our deep insights spanning industry domains and technology

Main | Role of Supply Chain in Effective Maintenance and Asset Management - Part I »

Mobile Asset Optimization

Organizations dealing with several mobile Assets / Equipment often face challenges with respect to effective management and different lifecycle processes for mobile asset. A feasible yet little expensive approach is to have these assets in store to make sure they are available when required. As mobile assets are considered fixed-cost, an organization inclines to concentrate on two in-hand factors while managing their costs - the direct costs incurred acquiring the asset and then it's maintenance cost. However a very important and critical variable -  efficient Asset utilization is diluted.100% efficient utilization of asset may not practically be possible due to various factors including life cycle of equipment, asset maintenance needs, and asset workflow considerations. However, it is evident that firms boost their utilization substantially by rethinking equipment distribution, management, and tracking. 

Let's look at below steps for a feasible optimization framework.
  • Assessment of asset data:
    The data regarding current workflow of the asset is important to know the project baseline and target dates. This early information helps when and project is getting deviated such as in smaller firms where asset demand is low or when trade-offs between inventory reduction and labor costs are not acceptable.
  • Workflow Redesign
    Each department has its own "asset ecosystem." Once the users are acquainted with the current state of assets, they should be trained in lean-based mapping in which every step of asset lifecycle is pointe out and analyzed
  • Asset Change Management
    Transitioning from a dismantled / dysfunctional asset workflow to the one where assets are readily available demands different set of actions from the engineering. The end users should be assured that new system will serve the purpose before they stop applying work around that worked in past.
  • Real-time Location Technology
    After an optimal asset lifecycle is successfully adopted (designed, piloted, and implemented) unit wide, many organizations look towards asset optimization--adding a real-time asset location system to monitor asset usage, status, and location. An ideal solution would be to tag the asset with Real-time Location System (RTLS) that talks to central visualization system, enabling users to see data on asset location and its status. This helps the users take better decisions on workflow issues such as asset optimization, efficient utilization, rental / lease management. Real-Time inspection along with alerting system and utilization reports help in adopting new processes and a sustaining positive changes.
    Managing mobile assets is always challenging, however if utilization is optimized efficiently, one can reap high benefits as they are by nature mobile and save infrastructure and maintenance costs.

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