More Companies Are Using Real Time Methods to Track Their Assets

With the current recession that’s affecting companies all around the world, managing your fixed assets UK and using them to get the most money out of them is being more imporant than ever before. A large number of companies are seeing that asset management is becoming more vital within business as every company attempts to get the most from their business assets.

This requirement for more efficient asset tracking UK has resulted in many companies choosing to buy into real time asset tracking to get the latets data. By obtaining real time information about your assets you can make business decisions based on that information. It has also led to more companies using asset management services like reliability centered maintenance (RCM) or condition based maintenance (CBM).

RCM is a method of managing your assets to make sure that they don’t fail and effect the earning of the business. RCM looks at the asset and finds out how it’s used for the company. It then looks at how that piece of equipment can fail and how the company would be effected by a failure. Finally, it finds ways to avoid the equipment failing.

The Aberdeen Group conducted a study called “Asset Performance Management: Driving Excellence Though a Reliability Approach in Real Time”. The study looked at companies under 3 different areas: overall equipment effectiveness, complete and on time ships, and unschedules asset downtime. The study found that the best companies managed a 89% equipment effectiveness, 97% complete and on time shipments, and finally only 2% unscheduled asset downtime.

The study also discovered how the best companies will use a range of managment techniques to get the most data about their assets. There were a number of technologies that were popular within the best performing companies. It was found that the top companies would often invest in advanced asset management techniques such as remote monitoring.

These different technologies help companies to keep active information regarding their assets for their employees. This now means that informed decisions can be made based on the information retrieved about their assets. It also helps the companies to understand how the performance of their assets can have a positive effect on the company earnings.

The overall requirement for more advanced methods of asset tracking has led to a rise in companies offering different asset accounting UK software to help you manage your asset data once you have retrieved it.

Tagged as: asset management, asset tracking, assets, business