What is Asset Lifecycle Management? Asset Lifecycle Management (ALM) is the mechanism during the lifecycle to maximize the value created from the properties. Comprehensive management of the asset pool, systematic implementation of programs, and reliable and effective asset management activities help to achieve the desired performance. Best Practices: Total Inventory Recognition Businesses tend to maintain
What is Stock Ageing Analysis? The most critical facets of every business model are storage or inventory. In order to curtail the losses that will occur from stale stock, it is imperative to control their movement and shelf life. Stale inventory also tends to being redundant, and would obviously ultimately depreciate its value. Excessive stock holding, with the fear of not providing optimal goods to market to buyers, comes with its drawbacks. The more things you’ve got, the more space you need. It also costs to do more inventory control and audits, potentially requiring additional manpower to work the warehouse. Stock aging analysis would thus help companies store only the appropriate quantity of inventory, removing the other needless variables that would negatively affect the viability and competitiveness of a company. Stock Ageing Analysis reports help in monitoring stocks and identify slow moving inventory
HVAC (Heating, Ventilating, and Air Conditioning) System provides environmental comfort in places ranging from small households to submarines. These systems also require some maintenance to use fresh outdoor air to provide high indoor air quality. HVAC system does not require high maintenance machines, but it does require some upkeep. To improve the energy efficiency and
Prescriptive maintenance is the asset maintenance strategy that uses machine learning to adjust operating conditions for desired outcomes, as well as intelligently schedule and plan asset maintenance. Prescriptive maintenance not only looks for failure signatures, but also provides information about how to delay or entirely eliminate equipment failure. These algorithms can comb historical data for
Do the maintenance workers of your organization face a tough time determining which machines require maintenance and which storerooms contain the spare parts they need? Or do they find it hard to choose the better option between spending the funds on machine breakdown repairs and preventive maintenance of each equipment?