Equipment Management Best Practices
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What Are the Equipment Management Best Practices?
March 25, 2022

What Are the Equipment Management Best Practices?

Equipment management does not always mean providing maintenance when it is broken. It includes lots of activities that need to be done regularly. However, it becomes quite hectic when there are pieces of equipment in abundance. For equipment managers in the construction industry, it is essential to know which equipment is required at which location. So that, no work operation is halted.

This is where equipment management software comes into play! It provides an accurate location of each asset so that employees can fetch assets easily, and work is not delayed at all. In this blog, we will know what are the best equipment management practices that might assist you in improving your business productivity!

What Is Equipment Management Software?

Equipment management software provides a systematic and automated approach for better equipment handling. Equipment management software helps the organization in maintaining them & ensuring that each asset gets maintenance regularly.

It monitors asset performance and helps in improving asset performance. For this purpose, equipment tracking is done frequently.

Overall, equipment management software decreases downtime & minimizes the chances of equipment failure. This software also assists in creating a safe environment for employees by scheduling maintenance of each piece of equipment on a regular basis.

You will notice that in the long-term maintenance expenses have also decreased.

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What Are the Main Equipment Management Best Practices?

Below we have discussed equipment management best practices:

Main Equipment Management Best Practices

1. Tag Every Asset

Tagging every piece of equipment is an integral part of equipment management. When you tag every piece of equipment, it can be helpful in equipment tracking & provides you with the accurate location of each piece of equipment.

Furthermore, you can gather essential information from asset tags. Tagging can be crucial in several aspects, such as maintenance, equipment tracking via location, and effective equipment management.  

2. Decide Priority of Assets

In the organization, there are all types of equipment. Some pieces of equipment are more important, and some are less important. Equipment that has a high dependency can impact daily operation on a high level.

These assets must have high priority. Whereas some pieces of equipment are less important, which means work can be done without them. So, it is significant to prioritize every asset to improve productivity. Prioritizing helps the maintenance team to deliver more effective work.

3. Implement Check-In and Check-Out

Check-in and check-out are very effective and essential features of asset tracking software that can be helpful to organizations that send their pieces of equipment from one location to another location.

Check-in & Check-out can assist the organization in avoiding asset theft and keeping track of every piece of equipment. Most importantly, it makes employees responsible for asset utilization. Check-in & Check-out provide valuable information as well that help in making informed decisions.

Missed to Read: What Are the Common Challenges in Equipment Management?

4. Utilize Equipment Management Software

Equipment management software can be very helpful in automating the process of maintenance & equipment management. As it automatically schedules asset maintenance for each piece of equipment. This software also helps in boosting enterprise asset performance by providing maintenance on time.

Furthermore, it can provide you with a complete report on which assets are productive and which assets are less productive. That will help you to make an informed decision about types of equipment.

When you have accurate information about each piece of equipment. Then you can make informative decisions about pieces of equipment. Furthermore, you can know which assets have taken more maintenance, how they are performing, and so on.

5. Emphasis on Proactive Maintenance

An organization can save a lot of money by providing equipment maintenance on time. When equipment gets maintenance regularly it reduces the chances of asset failure. As we know, sudden assets breakdown can be very expensive for organizations.

However, regular equipment maintenance makes equipment reliable & also leads to asset life enhancement. Furthermore, schedule maintenance also leads to increased asset performance.

When an asset works efficiently then it decreases downtime, increases uptime. It optimizes the productivity of the organization and employees as well. Therefore, it is a very important practice for equipment maintenance.

6. Collect Data & Make Informed Decisions

Ensure that you have collected accurate data. With automated software, you get reports that are helpful in making strategic decisions. Data is helpful in collecting intel that helps in discovering pitfalls and you can overcome them with data.

For example, when you track and manage assets you get valuable data such as damaged assets, assets more utilized, assets less utilized, and so on. When assets are overutilized means that you need to purchase more assets.

Similarly, when assets are less utilized, it means you can decrease the quantity or sell assets that are not used.

Conclusion

So these are a few of the main equipment management best practices that organizations can follow. It is not rocket science to manage pieces of equipment. However, when assets are in huge quantity, managing them becomes a complicated task. That is why investing in equipment management software is crucial.

Equipment management software can be very fruitful for your business, it can give your business an extra edge that will save your organization a lot of expenses. Furthermore, it will provide several other benefits as well.

Also Read: What Are the Consequences When Asset Theft Occurs?

Frequently Asked Questions (FAQs)

Q.1 - What Are the Benefits of Equipment Management Software?

Equipment management software provides several benefits to the organization. For example, it is helpful in maintenance scheduling, minimizing maintenance expenses, and increasing asset life. It can provide maintenance proactively and boost asset performance well. When you work on this aspect, your return on investment is also optimized. Furthermore, you can check your equipment's location in real-time.

Q.2 - How Is Equipment Tracking Done?

For equipment tracking, each piece of equipment is tagged with a label. This label has a unique identification number which is given to each piece of equipment. Whenever this label is scanned it automatically fetches all the information related to the equipment. This label comes with a barcode, QR code, RFID, or any other type of technology.

Q.3 - What Are the Features of Equipment Tracking Software?

Features of equipment tracking software are:

1. Alert and notification

2. Accurate equipment tracking

3. Real-time information

4. Scheduling maintenance

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