Managing assets is not a simple job especially when lots of assets move in and go out. It can be quite chaotic. Facilities such as the airport have several places that need maintenance lots of equipment and vehicles including airplanes. Aviation asset management is required to maintain assets. Asset management can be very beneficial for the airport facility.
Air terminals can boost asset performance and save the time of users by depending on the Aviation asset management program. Although numerous air terminals have been using a spreadsheet which is not an effective method.
However, with aviation asset management solutions there is huge potential for improvement.
What Are the Benefits of Aviation Asset Management?
The benefits of aviation asset management are as follow:
Also Read: What Is the Importance of Maintenance for the Airlines Industry?
1. Saving Expenses
Saving expenses in an airport is necessary via maintenance. As airline tries to expand the utilization of their airplane armadas around the globe, the function of maintenance repairing operation (MRO) department is progressively significant because they are something more than just working spaces.
MRO offices are important for a complicated system that offers types of assistance for airport infrastructure. They play a significant role in maintaining airplane motors, plane parts, aeronautics, and line maintenance. These activities are really helpful in saving expenses as they help in avoiding the breakdown of equipment.
A sudden breakdown of equipment including airplanes can be very drastic so maintenance repairing operation (MRO) is necessary for the aviation industry.
2. Increased Productivity
The real-time information and data utilized by the expert groups offering better aviation infrastructure services with the assistance of asset management software. It helps in making versatile operational plans and ideal outcomes.
The airplane infrastructure has lots of assets. This software can keep track of these assets. Hence, employees do not have to waste time finding assets or inventory. This software increases the productivity of employees.
3. Asset Life
Asset management software can increase the life of the asset. As a result, the equipment is capable of running longer than usual. Maintenance has an important role in enhancing the performance & life of the asset. The software keeps track of which asset needs maintenance and software also crucial in providing asset history as well.
Keeping track of asset life is very important so that managers can know when asset life is over and need to be disposed of. If assets are utilized after their productivity is over then there are increased chances of asset breakdown.
4. Customer Experience
By increasing the performance of airplanes, scheduling, and departing on time increase customer satisfaction. If the flight is delayed it is not good for customers and the airport as well.
According to the International Airport Review,
“British Airways has fallen victim to another IT system failure which has left thousands stranded and is expected to cost the airline over £8 million.”
Thus, customer experience is very important and any type of hindrance can negatively affect business.
Also Read: Maintenance Management Tips to Avoid Equipment Failure
5. Tracking Asset & Inventory
As a part of the business, airports send products from one place to another. Airports send cargo that contains assets, items, and inventories. They need to be delivered properly. Most importantly, this software provides real-time updates which are very essential so that you can inform the same to your customer as well.
This is not the only purpose of tracking. Tracking is also important in airport asset maintenance. As it can provide a real-time number of available stocks. For aircraft maintenance, having the correct part, at the correct place, at the correct time, is one of the essential requirements for effective maintenance.
This software keeps track of inventory and alerts you when it is about to finish. It allows the manager to maintain the right number of inventories. Furthermore, when assets and inventories are tracked it avoid theft and misplacement.
6. Detailed Reports
You can collect data with reports analyze them use data for improving the operation or saving unnecessary expenses. Within reports you can find:
- Records of repairs done, costs incurred, and spares consumed.
- Complete asset list of the airport
- Maintenance is done in each asset
- Track asset performance individually
- Provide asset details such as purchased asset date
- Depreciation reports
Asset Management Reports help find the potential area where improvement can be done. They help make financial decisions & set a future goal. These reports are useful for different departments. For example, the maintenance team can use maintenance related data to make improvement.
7. Effective Audit
The audit ensures that airport assets are physically available or at least its location is known. Other benefits of effective auditing are that it makes you aware of your asset condition. It provides accurate records and assists in accomplishing compliance as per the government rules and regulations.
Without asset management software this process would be very long. So, this software makes this process simple. Overall, you can get all the precise asset records that help calculate the overall worth value of assets. Furthermore, auditing is also crucial in depreciation tracking and management.
The flight industry is a huge and complicated association, as we said in the beginning airports has assets in abundance, with the asset management software business can optimize operation, boost asset performance and save maintenance expenses. In a busy air terminal, keeping track of assets is an absolute necessity.
This software helps plan & implement strategic business steps. It establishes the level of performance indicators.
Also Read: Simplifying Tracking of Airport Assets with Asset Management System
Frequently Asked Questions (FAQs)
1. Why aviation asset management is important?
Aviation asset management diminishes the overall expense of airplane proprietorship, improves dependability and security, spares time and hindrance, and guarantees that asset performance is optimized.
2. What are the technologies used in asset tracking?
There are several asset tracking technologies used in the airport such as barcode, RFID, GPS, and IoT all of these technologies are used in different locations. For example, GPS can be used to track the real-time location of flights and barcodes can be used at lifts & elevators in the airport infrastructure.
3. Which type of maintenance is best for the aviation industry?
Preventive maintenance is the best maintenance type not just for the aviation industry but for all industries. Because it emphasizes eliminating the potential problem and it is a money-saving strategy as well.