Equipment management is not simple as it seems! Because an organization has a lot of assets and equipment and managing them is not a piece of cake! You will face several equipment management challenges that we have discussed below! But first, it is important to know what exactly equipment management is! So, let us begin!
What Is Equipment Management?
Equipment management includes several activities related to maintenance. In this process, equipment is monitored and managed as per the requirements of the organization.
Equipment management includes activities such as deploying equipment where they are needed or retrieving it back when they are not required. Using equipment to its full potential is also an important part of equipment management.
What Are the Most Common Equipment Management Challenges?
The most common equipment management challenges are as follow:
1. Manual Work Management
When you work manually it increases the chances of mistakes. If there are some errors in data while making data entry it will decrease the efficiency of the data. Many organizations utilize a spreadsheet for data entries because it is a free tool & they want to save money.
However, spreadsheets are not reliable as they are used by multiple people and if someone makes changes you can track who made the changes. Furthermore, changes can be made intentionally or unintentionally.
Spreadsheets are vulnerable to errors. When you count inventory, you need to ensure that you have accurate data because manual inventory count or equipment count can be a lengthy process.
2. Equipment Tracking
One of the most common equipment management challenges is keeping track of equipment. Pieces of equipment are moved from one place to another location then their theft and misplacement chances are increased.
When equipment is lost, or misplaced daily operation suffers, and productivity decreases.
Pieces of equipment are very costly they need to be tracked properly as it can be very beneficial for business. Tracking can provide several advantages to the organization and lets you know the location of equipment all the time.
3. Maintenance Expenses
Maintenance cost has always been an issue for all organizations because maintenance bills are costly. Although normal maintenance is expensive when schedule maintenance is not provided to assets it becomes more expensive another reason is sudden equipment failure.
When equipment failure occurs then equipment needs to be restored quickly that is why they are costly. However, the organization most of the time ignores maintenance which is why maintenance bills are huge.
4. Regular Maintenance
Assets and equipment keep moving from place to place especially in the construction industry. Equipment in the construction industry does heavy work really and they need to be maintained otherwise it will not only lead to increased maintenance expenses, but daily work is impacted, and the project will be delayed as well.
So, regular maintenance is important! It decreases the chances of sudden equipment failure and makes assets more reliable.
According to Markets and Markets, “the medical equipment maintenance market to grow from USD 28.97 billion in 2018 to USD 47.49 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period.”
5. Implementing Maintenance Strategy
Implementing a new maintenance strategy is hectic because the first step you need to find out which maintenance strategy will be beneficial for your business.
As there are lots of maintenance strategies available in the market. Some organizations use proactive maintenance, some use reactive maintenance, some organizations use both.
Deciding which maintenance strategy to use is one thing implementing that maintenance strategy is another thing. It represents several equipment management challenges as we shift from one or no maintenance type to another.
How to Overcome These Equipment Management Challenges?
In order to overcome these equipment management challenges, you need asset management software. This software provides several advantages to the organization through which you can avoid these issues.
Asset management software is known for eliminating manual processes and makes them automated. It eliminates the usage of spreadsheets and keeps the data accurate.
Asset theft and misplacement is a big issue in business sectors equipment are considered as the backbone of the organization. When they are not found it interrupt the daily operations and delays the production work as a result efficiency decreases.
In order to avoid theft or misplacement equipment tracking is done. For equipment tracking, asset tracking techniques can be used such as barcode, QR Code (Quick Response code), RFID (Radio-frequency identification), etc.
These technologies come in the form of labels, a label is stickered to teach assets and equipment. Each label has a unique identification number through which tracking is done. With these technologies, you can know equipment location that too in real-time.
Once you store all the information in the system then you can easily schedule equipment maintenance which means you do not have to remember manually for equipment maintenance.
This software will automatically alert you for each upcoming maintenance in that your assets and pieces of equipment will be maintained.
Obviously when pieces of equipment are tracked then maintenance will be provided on time and maintenance costs will decrease automatically.
Furthermore, it will increase the performance of equipment. Moreover, you can also schedule maintenance for performance optimization.
If you are worried about maintenance strategy with this software, you can easily implement all types of maintenance however this software specializes in proactive maintenance.
Equipment management challenges will be always there, but you can tackle them with the right tools easily.
As we have seen above there are several challenges for equipment management therefore asset management software is crucial. It can help in various ways this software solves lots of problems. It helps organizations in several other ways.
Asset management software provides solutions from equipment tracking to equipment maintenance. Furthermore, it offers several other advantages and features that make you and your organization more productive.
For instance, it provides accurate data and reports that are helpful in making important business decisions.
If you are facing challenges in equipment management, the asset management software is there for you. It can take your business to another level if you have not invested in the software then you are missing something huge!
Frequently Asked Questions (FAQs)
Proactive maintenance is that maintenance in which asset is provided maintenance before they fail or stop working. This maintenance type is cost-effective compared to reactive maintenance types. This maintenance keeps assets in good shape and makes them reliable.
Maintenance is an important pillar of the organization’s base. It is important that assets are maintained. In a maintenance work order, the maintenance team or technician inspects the equipment. A checklist is already provided to the maintenance team and all the problems are mentioned other than this oiling, cleaning, changing wear and tear parts, air filter, doing greasing, etc. Mainly these are the activities involved in the maintenance work order.
The benefits of tracking inventory are that you are always aware of inventory count when maintenance is schedule teams need to ensure that inventory is available so that wastage of resources does not occur. This software for Inventory tracking also alerts you when they are about to expire or when they are low on inventory count.