Business Description

Asset Management System

The process of taking into account a physical asset's commissioning, operating, and end-of-life stages is known as asset management software. Current asset management methods, however, demonstrate inefficiencies when it comes to fully addressing life cycle costs.

The main steps are as follows:

Register your assets' information, including their make, model, status right now, location, and condition. All assets with a unique id have this information compiled for them.

Asset hierarchy: To appropriately preserve a cause-and-effect understanding and to better arrange the parts and sub-parts, establish a parent-child link between the assets.

Preventive maintenance: Schedules for planned tasks are created together with checklists, taking into account the frequency of work to be completed on the assets.

Maintenance after a breakdown: Information about the job, the type of defects, and their scope are recorded.
Asset maintenance system cost is typically estimated early on, and benchmarks for maintenance costs, such as maintenance cost as a percentage of equipment replacement value, can be employed. Alternative approaches should be taken into account if it is discovered that operating a particular piece of equipment within the anticipated dependability parameters may not be cost-effective. The optimum option should be chosen after weighing trade-offs between initial capital investment and operation and maintenance expenditures.

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