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How Planning Reduces Capital Expenses & Enhances Productivity?
January 22, 2018

How Planning Reduces Capital Expenses & Enhances Productivity?

Unexpected breakdown of a machine could create downtime in while the defected part is waiting to be repaired or replaced. Stoppage of one engine could start the events of chain reaction and the whole function in the business could be brought down by the interruption.

In business, planning and scheduling of maintenance work is an essential measure to be taken to enhance the function of assets and equipment. A planned maintenance service can help extend the life of assets and improve their productivity.

How Planned Maintenance Service Helps in Reduction of Expenditure?

1. Unplanned purchase of assets could cost the business

When a huge machine has broken down abruptly, it will need time to get repaired because it has several components that help it function. The technicians need to examine all over the machine to seek the deterred part. If they can find it quickly, luck is with them.

However, there may be cases where they need to take out all the parts one by one for scrutiny. This process will consume too much time and it might delay the actual maintenance work.

Also Read: Without Asset Management Software, Managing Assets in Excels & Spreadsheets

If a business needs the machine for urgent work, the situation could force them to purchase a brand-new machine. This sort of impromptu buying could cost the business.

2. Plan your preventive maintenance program to save money

If a company is using several equipment and machines at its workplace, it needs regular preventive maintenance of these machines. The facility management should establish a layout to repair the assets.

The maintenance works would be carried out under a scheduled calendar. Each machine would be categorized according to their types and sizes. This method would be easier for the facility manager to pick which machine needs to be repaired at a time.

Asset Infinity has a potential facility management program with which you can schedule preventive maintenance activities for single or multiple assets.

You can easily plan your own maintenance activity like component repairing, oiling or renewal of financial cover on a regular basis like yearly, monthly, weekly, or daily as per your business genre.

How Planned Maintenance Service helps in Improving Productivity?

1. Easy scheduling with maintenance management software

Asset Infinity has the ability to create one-time schedules that create only one activity for a given date and time. By using this maintenance management software, you can assign the entire schedule to a user.

Also Read: How Simple Preventive Maintenance Schedules Save Time & Money

You can set a frequency or alarm to receive reminders and alerts for activities on a schedule. This enterprise asset management has a facility that allows you to attach files related to maintenance activities. You can add descriptions of the start and end dates of a schedule.

The user-friendly asset tracking management software from Asset Infinity allows the users to set default values for multiple activities that will be generated within the schedule. Information in this application can be customized in one way or another.

You can add more custom information to be stored with the schedules. You can update or delete all active schedules from a separate Open Schedule Report.

Whenever a maintenance activity time approaches, this facility software will automatically send notifications and emails to the assignee as per the reminder frequency is set. You can filter out pending activities page that page shows a list of activities based on activity types and assignee.

Colour coding is implacable in this asset management software. If you see Red, it means the activity is already due. Blue signal indicates activities in the future, whereas black means for activities that are pending for the day.

2. Manage your inventory items

Any business whether it is large or small needs inventory management of spare parts and consumable items for maintenance purposes. The purpose of this management is to maintain the inventory items in the stock so that they can be utilized when the related asset needs to get fixed.

Inventory items such as components and spare part of a machine are the important materials which can be consumed as per the requirement. These small components are the soul of the whole set of the asset.

EndNote

Start good planning to maintain your assets so that you will know which inventory item will be needed for the activity. For this, you can arrange the required number of items in the stock beforehand. So that to increase your asset productivity and reduce expenditure.

Recommend To Read: What Is the Importance of Unique Asset Code in Asset Tracking?

Frequently Asked Questions (FAQs)  

1. What Is Asset Planning?

Asset planning is a significant part of asset management. in asset planning process and organization things of various factors such as where Asset is needed & how it will be helpful to business. Other than this asset planning is helpful in increasing asset life and making productive operations. In order to grow your business asset planning is important. In simple words, asset planning is the strategical approach for what is the requirement for the asset, how you will how you are going to use that asset so that you can increase return on investment.

2. Why Can Purchasing Unplanned Assets Be Dangerous for Business?

Unplanned purchasing assets can be dangerous for business because you do not conclude for the long term of asset utilization it may seem that you need to purchase assets end up beginning however in the long-term asset is mostly remains unutilized. Furthermore, businesses invest a huge investment in purchasing an asset. If assets are not utilized to their full capacity, then they are a waste of resources. The solution to the problem is to lease assets for a specific period of time so that when you are done with the asset you can return it to its original owner.

3. What Is Maintenance Management Software? What Are the Benefits of It?

Maintenance management software is software that helps organizations in scheduling maintenance of assets. It also helps organizations in minimizing asset maintenance expenses and plays a crucial role in increasing asset life. Moreover, automated maintenance management software helps in asset planning as well. In the market, there are several applications available that help organizations in asset maintenance such as CMMS (Computerized maintenance management system). CMMS software provides several benefits to the organization.

1. Decreasing sudden asset failure - Lots of organizations do not provide asset maintenance on time as a result chances of Asset failure are more than usual.

2. Providing proactive maintenance – CMMS software inspects assets and keeps track of maintenance. It alerts automatically about each asset maintenance individually.

3. Decrease maintenance expenses - In the long run, CMMS software is also helpful in decreasing maintenance expenses. When assets get maintenance regularly their maintenance expenses decrease automatically.

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