As business owners and maintenance managers, the daily grind can lead us into being short sighted when it comes to results. This way of thinking term in business areas like physical asset management is a recipe for disaster.
We’ll take a step back to understand why some of our thoughts and actions regarding physical assets may cause us to overspend or underperform as a business. We’ll highlight the most common errors and discuss the right way of approaching physical asset management.
What is physical asset management?
Physical asset management is as much a way of thinking as it is a series of tactical and operational tasks. It represents a systematic way of managing physical assets with a focus on their sustained performance – emphasizing performance over their lifetime rather than a daily, monthly, or annual cost and uptime.
In other words, physical asset management gives us a framework to make smart decisions from planning to disposal.
There are many reasons to invest in CMMS software, but most people really only make the switch to save money. While this cost reduction is a valid reason to make the change to a quality CMMS, there are other important benefits that often go overlooked.
Decreased Downtime and Shutdowns
Your maintenance strategy shouldn’t be reactive. It really is counterintuitive to fix problems as they arise, as they should be taken care of long before anything serious occurs. A quality CMMS will easily allow you to reduce equipment.
Find out more today!
While physical asset management should not be your sole focus, it is definitely an important one. One of the major ways to keep it on the right track is by investing in a CMMS software that helps keep everything on track. A good CMMS will not only increase asset productivity, but will help you target other KPIs as well. To learn more about how CMMS can help with your scheduled maintenance, call us at (352) 795-2362 or schedule a demo today!
CHAMPS Software
