Asset tracking software for preventive maintenance
Maintenance costs can easily chew up a lot of dollars for companies. Is your organization in a firefighting mode or in other words reactive maintenance mode? Yes, then you are exposed to a greater risk of higher maintenance costs, downtime, and failure rates. Preventive maintenance is a prominent maintenance method that many professionals use to eliminate costly repairs, sudden equipment breakdowns, and asset failures. An effective asset tracking software can automate most of the time-consuming processes required for maintenance of valuable assets. The advances in technology today offers maintenance professionals with even better proactive maintenance approach.
Businesses and preventive maintenance
At many times, companies go an extra mile to buy high-quality assets hoping that it will save them money but neglect the importance of maintaining their assets properly. You will probably end up losing a lot of money that way. Companies that tend to neglect their equipment and ignore their reputation may prosper temporarily but will ultimately be replaced by companies who take good care of their assets and reputation. Continue reading
Asset Tracking Software and Equipment Management
Regular equipment maintenance is important and necessary for every business. There are companies who even specialize in different types of equipment maintenance. At present, North America has the most sophisticated and technologically advanced types of maintenance programs. Manufacturing industries tend to focus on decreasing production costs by eliminating investments related to people and processes.
As per the Maintenance Study in 2016, it was recorded that 76% of manufacturing industries follow a preventative maintenance strategy whereas 51% of these companies use a CMMS (Computerized Maintenance Management System). The reason for these results is simple – effective equipment management using asset tracking software leads to streamlined business routines. Continue reading
The Effects of Poor Asset Management on your Business
Poor asset management can cause a business to collapse. For small businesses, the cost associated with asset utilization presents a unique set of challenges which should be dealt with in order to increase asset performance, streamline operations and maximize profits. When a business invests a large amount of money in its assets, financial gains are dependent on the performance of these assets.
A study conducted by U.S small business administration shows obsolete inventory management is one of the reasons why businesses fail. Moreover, U.S small business administration also found out that around 46% of small businesses function without any sort of system to track their goods. Lack of a robust inventory tracking solution can lead a business to face asset shortages, misplacement of expensive equipment and ultimately financial loss. To avoid the fiasco of business mismanagement and get maximum return on your investment, tracking your equipment for optimal performance becomes inevitable. Continue reading
Every successful business owner knows that working to prevent a crisis is better than managing it. Businesses take great pains to predict and plan for future goals and challenges. However, most business owners fail to apply the same policy when it comes to managing their equipment. According to CISCO’s former CEO, 40% of businesses will not survive the next 10 years. What this means is that businesses looking to succeed must do better in every sphere – including their equipment maintenance. If your business is dependent on its equipment for day to day operations then it is important to have that equipment in order. Preventive maintenance can save businesses from unscheduled equipment breakdowns and performance hiccups. This article details the benefits of preventive maintenance and how preventive maintenance management software can help businesses execute an effective maintenance plan. Continue reading
From managing maintenance and service requests at a medium-sized 50 unit apartment building to keeping track of ongoing equipment maintenance at a large construction site, equipment maintenance software, commonly known as a CMMS (Computerized Maintenance Management System) can be a very helpful tool.
When choosing CMMS, businesses look for preventive maintenance, seamless equipment management, solid asset assignments, insightful maintenance reports, and above all foolproof ways to reduce maintenance costs. Continue reading