Using Asset Management To Minimise The Cost Of Your Asset Maintenance And Repair
Maintaining and repairng your assets. can result in a lot of lost time and money. Manual asset management can take a good few days per month, resulting in a fairly large sum at the end of the year. Manual work isn’t the only way a company can lose money through M&R (maintenance and repair), missed damage protection plan coverage, unknown manufacturing defects, recharges and administration costs can all cost company money.
Let’s have a look at a couple of examples: Monitoring turn-time would (on average) take around 5 days per month if you were checking manually, which at a full time wage could translate into around £3,000 per year. Manufacturing defects can also cost thousands per year – if you had just 1% of 10,000 units with an unknown £100 repair defect (which is conservative, it would more likely be 2-5%), that could cost the company approx £10,000 per year.
So how do you manage the maintenance and repair of your assets in a way that minimises yearly costs?
The recommended solution would be top spec asset management software, which will cut down yearly expenditure via detailed and comprehensive asset tracking. The utilisation of specialist software would allow for far more efficient asset usage; minimising any downtime of either owned or leased equipment. It can also provide automated actions, from automatically monitoring turn-time of equipment (ensuring they’re always ready for the next job) to providing automated reports which flag up and re-allocate costs from third party suppliers, ensuring any costs are charged to the end customer. This kind of software can also keep your damage protection plans up to date, tracking and updating all available policies automatically.
Dedicated and specialist software for the cost effective management of fixed assets can only serve to improve the profitability of any company, providing them with an extra edge in an increasingly competitive market.
.gif "Free Traffic System - Increase Targeted Website Traffic with Free
Unlimited One Way Links")
