How an asset management system works and how can help optimize maintenance

With this article we introduce how an asset management system works and how it can help optimize maintenance, which is a cost that the company cannot avoid. Precisely the management of maintenance processes, however, thanks to the availability on the market of increasingly advanced IoT (Internet of Things) technologies and, more generally, related to industry 4.0 (understood as that set of people, machines, sensors, interconnected data, algorithms and platforms), is hiring a increasingly strategic role in factories as it helps to create value and increase competitiveness. The managers of all this know that their skills are no longer only related to the operation and life cycle of the plants themselves. They must also concern the organization in a broader sense, because also sophisticated management of the installed machine park can help improve business results.

In this sense, an Asset management system represents a real enabler of change within the company, offering the possibility of reviewing core production decision-making processes. Implementing information systems and, more specifically, asset management software allows companies to save time and money, to increase productivity. Not only: it also allows you to have all the data necessary to make the correct strategic decisions.

Challenges related to asset management

The challenges facing an asset management system are manifold. In addition to identifying anomalies and solving problems, it must be able to diagnose the causes of an event, predict behaviors, monitor and control performance. Moreover, it must benchmark, automate a decision-making process and help optimize a process renewal plan.
The ultimate goal is to improve efficiency and ensure optimal operation of the plants by intervening on their entire management.
If at this point all the information is managed by technological engines capable of transforming the individual data into knowledge, it is possible to benefit from valuable indications, for example, on any inefficiencies related to poor maintenance. It is possible to prevent anomalous events and behaviors and anticipate any inefficiencies.

Tasks of an asset management software

The first fundamental role of an asset management software is to put information on the assets owned by the organization. Information (digitized, therefore available and always available to all collaborators in the company), concern their activity, the interventions carried out . From a single dashboard (depending on the solutions on the market, a dashboard can be designed, which can also be consulted while on the move and using special apps), it is possible to derive everything you need to know about any critical issues, situations that can create risks and so Street.

The asset management tool is therefore able to carry out reports and analyzes on the data collected in order to perform predictive maintenance.

Regarding this, an asset management solution can represent a real control center for intervention needs. So as to have a more effective management of the various tickets open in the company in a single flow. In the company, the various subjects gradually involved in maintenance interventions (from the department manager, to the compliance manager, from the purchasing department to the high-level management) can thus monitor and better organize the status of all those same interventions.

More specifically, the various queries can be conducted at different levels of depth. A sophisticated asset management tool allows you to have a global vision. At the same time, allows statistical analysis based on multiple criteria according to your needs, provides performance indicators and tracks their evolution.

Finally, if the chosen tool integrates machine learning technologies, the same data collected represent the heritage from which the software draws to improve and increase its intelligence and, therefore, refine its outputs.

Contact us to know more about our Asset management system and other solutions.

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