How to turn your Asset Management Strategy into a competitive differentiator

In today’s socio-economic climate it is imperative that businesses have strong competitive differentiators. Many business leaders have discovered that a sure-fire way to achieve this is by optimising benefits obtained from a strong asset management strategy and using effective asset management solutions.

Proactivity for Success

Proactive asset management and maintenance creates the following, highly competitive differentiators:

Maintenance performance is drastically improved, leading to:
- Cost savings by:
  - Lowering operational costs of maintaining assets
  - Reduction of capital costs of investing in the asset base
  - Decreasing MRO purchasing costs
- Increased efficiency ensuring inventory levels are effectively optimised

Organisational operations become safer and healthier through:
- The use of cloud and mobile access to build a strong and thriving remote workforce
- The reduction of legal risks associated with operating the assets
- Ensuring the decrease of the environmental and health impact linked to the operation of assets
- Identifying and rectifying excessive consumption by tracking of energy usage

Improved strategic decision-making power with a data-driven approach, helping business leaders to:
- Gain pivotal insight into outliers and anomalies
- Enjoy real-time, data-based reporting which allows for immediate action to optimise on opportunities and address problem areas
- Successfully optimise maintenance intervals based on history and conditions
- Achieve significant improvements in regulatory compliance resulting in a higher level of business surety

Asset Management for Improved Business Continuity

Sound asset management ensures business continuity, while proactivity leads to better asset performance. This approach reduces downtime, improves labour productivity, minimises inventory, increases warranty cost recovery, and decreases energy consumption.

With proactive asset management and maintenance, and the benefits associated with this approach, businesses operate with a higher level of functionality and surety. By optimising asset management strategies, organisations offer a much higher level of efficiency, acting pre-emptively, and significantly decreasing downtime. It’s time to move from reactive to predictive maintenance and redeploy technicians to more strategic activities.

Paul Bouchier, Sales Director at iOCO, within iOCO Software Distribution, an Infor Gold Partner.

For more information about Infor’s Asset Management solutions, please contact Paul Bouchier at paul.bouchier@ioco.tech.