If there is one thing that is the largest investment for most maintenance departments, it's the equipment. Your equipment is not only one of the biggest parts of what you have to pay for but it is integral to the success of the facility.
Dealing with expensive equipment is hard enough but there is a way to make asset management easier.
The first step in asset management is to make sure you are organized. This can seem like a daunting task but it is much easier with a CMMS (Computerized Maintenance Management Software) program. The reason is that you can keep track of all of your equipment, any repairs, when it was bought, and even check out the life expectancy of the equipment.
Obviously, it is imperative to know where all of your equipment is and that includes even the smallest of parts. Without having a grasp on the location of everything, it is hard to know what to order when you need it. It is best if you can inventory and keep up with everything as it is purchased so that you don't have to do an inventory later on.
It boils down to knowing the most you can about your equipment and your inventory. In order to effectively keep your equipment in good working order, you have to know where it is at first of all then have all of the information on the upkeep and maintenance. The CMMS program also allows you to focus on the life expectancy of your large equipment items which means that you can make a decision on whether to fix a problem piece of equipment or if it is time to replace the item because sometimes the repairs end up costing more in the long run than it would be to buy a new item and have a brand new warranty in case anything goes wrong.
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No matter how organized you keep your inventory, asset management is made easier with the CMMS program which allows you to take notes as well as upload paperwork that is needed. You will find that once you have a firm grasp on where everything is and its history then your investment is easier to handle.