Top 5 reasons you need to revisit asset management
5. Doing ‘more with less’ relies on data
As the demand for quality services grows, budgets are becoming stretched. Every decision about how much and when to invest in your assets needs to be justified.
That requires comprehensive data from both across your organisation and external sources: without all the pieces, leaders can’t gain a complete picture.
Yet many organisations still suffer from silos—multiple departments using different systems to manage relevant information about assets. Being able to predict, plan and be proactive accurately requires a holistic view.
International standards like ISO 55000 endorse a whole-of-organisation approach to managing assets. International standards advocate an integrated approach to processes and recommend consolidating business information including Finance, Human Resources, Logistics and Operations to optimise performance and minimise cost.
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