Keeping an eye on all the possible aspects of a business is not an easy task. And when it comes to a fast-paced Food Industry it is more difficult to keep a track of all the aspects of a business. Keeping a track of all the assets, and managing and maintaining them in the best way possible is not an easy task if all the business relies on is manual practices. Traditionally it was no less than a task to keep a track of all these assets, they need to maintain spreadsheets and maintain them physically. Now with the technology change, businesses rely on keeping a track of their assets and managing them through optimised software.
This software is known as Asset Management Software. It helps an organization to track all their assets on a real-time basis with utmost accuracy, data on which they can rely on their decisions. A lot of problems occur in fast-paced food service, they have a lot of risks that they need to take care of. With this let us try to understand more about how to Adhere to SLAs and Reduce TAT. Let us dive right in!
What is an Asset Management Software?
Keeping all your assets in the best way possible is what Asset Management Software does. With that software’s help, you can track all your assets and manage them in the best way possible. This asset management is not a one-day activity, it goes on. With this, you can keep your assets in a safe position and know their current status and condition, which is important for any organization.
It comes up with other benefits too, like you get to know who is running the assets, who owned the assets before this, and what is their current location, you can even track all the inventory and a lot more and all this is on a real-time basis so that you never lose any data.
Now that we know a lot about Asset Management Software, let us understand how it helps us in Adhering to the SLAs and reducing TAT.
Adhering to SLAs
Unsure of what SLA is? Well, SLA stands for Service level agreement. This agreement happens between the buyer and the vendor. It defines the level of service that you expect from a vendor. There are several ways through which you can measure the work done and the service offered. The metrics differ from vendor to vendor and also in the industry that you are working in.
But regardless of it, you want to stick to the metrics that are pre-defined by the industry. Laying out the metrics that you want your services to be measured on. And if their limits are not matched up what are the penalties that the vendor would be paying? All of this comes under Service Level Agreement.
One must keep up with this agreement. This can be taken care of with the help of Asset Management Software. Which can help you keep a track of all the agreements and check if the metrics are being set up fine and worked on best.
Whenever an organization outsources any work or any technological vendor contract they always sign up a Service level agreement. This agreement lists all the quality and service types and not just that, it even specifies what the penalties are going to be if these metrics are not caught up well.
Let us first understand what TAT is. TAT stands for Turn Around Time. It majorly means the time taken for any operation. Starts right from where an article comes into the process and till the time it exists the whole process. It is the goal of any organization to reduce the TAT.
Reducing the TAT is very important as it helps to reduce the overall time required to perform any action. If that time is reduced the workflow increases and the number of tasks performed is also increased which helps an organization majorly. It helps in an increase in production which eventually leads to an increase in profits.
TAT also includes the waiting time, the time when some other operation is going on. TAT in any organization is impacted by two conditions. The first one is, the number of items on the work belt or what we call a work in progress. Till the time those items are on the work belt, the organization can not start working on the next batch. The second one is how fast the work is being completed, and what is the speed of the workflow. When this time is less it is beneficial for any organization. Hence, it becomes very important to reduce the TAT.
In the fast-paced food service industry, it is very important to keep up with the fast pace. If that is not the case due to the heavy competition the restaurant service will fall behind. This makes it very important for the organization to keep up with the Service Level Agreements, keep a track of all of them, look into the differences and act on them and at the same time try to reduce the TAT. All this will help them to gain the maximum profits. This is your sign to pay attention to this by installing a management system.
Frequently Asked Questions:
- What if a service provider does not meet agreed-on service levels?
Answer: SLAs include penalties if the service level is not met.
- How often should SLAs be revised?
Answer: It depends on many factors some of them are the business industry, technical environment, workload and metrics.
- What is takt time?
Answer: It is the beat of the process or the maximum allowable time to produce an item to meet customer demand.