Module Specifications - Asset Management
Many companies have enormous investments in capital equipment. This equipment is required to directly produce or indirectly support the production of the goods and services their customers have purchased. This equipment will have to be maintained and there are obviously costs associated with this maintenance, both the direct costs of labor and materials required for the maintenance, and the indirect costs from the loss of production that results from the equipment not being available to produce the aforementioned goods and services.
New equipment is purchased, generally to increase profitability by reducing task cost, down-time, or operation costs. Capital for these new investments is usually limited, so management needs to effectively evaluate the productivity opportunities in their facilities, and to monitor the effect of the investment once the new equipment is in production. To do so, they need information that accurately reflects the life-cycle cost of operating this equipment, as well as the task level cost to monitor individual productivity gains or losses. If at the end of the day management cannot justify their capital investment by specifically and statistically significantly demonstrating that the investment reduced costs and increased profitability, then it would be reasonable to question any further capital investment by this same management, because one cannot be confident at all that the investment was in any way justified. If in fact the investment was not justified, at the end of the day this will mean higher costs to produce, which will adversely affect the company's ability to compete and could result in loss of market share, or worse.
Out Asset Management module assists management with these and other concerns. With this module, you will be able to track individual asset costs. United with our Workscope Management module, you will be able to create internal work orders to address asset failures or maintenance, and thus track total repair costs for your assets, as well as address specific maintenance tasks costs and whether or not improvements in productivity are possible for these in-house tasks. Furthermore, each asset is assigned your set of individual operating cost parameters which are tied to shop overhead and allow you to truly track the effect of capital investment. Finally, complex multidimensional analysis is possible when this module is tied to Workscope Management and Human Resources, by allowing you to track individual productivity history as a function of capital investment and training costs.
To discuss your specific requirements, please contact us at any time.