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Intelligent Lubrication Solutions™

Intelligent Lubrication Solutions™

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Breaking it Down: The Business Side of Asset Management, Part 1

Posted by Matt Mohelnitzky on Oct 6, 2015 8:30:00 AM

Asset management is one of the hottest buzzwords in the maintenance world right now. A lot of Plant Managers and Maintenance Managers have likely heard company executives talking about it, yet they may not fully understand the impact that their maintenance functions have on asset management. According to the ISO 55000, asset management is defined as “The coordinated activity of an organization to realize value from their assets. This involves the balancing of costs, opportunities, and risks against the desired performance of these assets, to achieve your organization’s goals. It enables your company to examine the need for, and performance of, different assets at various levels, helping you reduce the overall operating costs, while boosting the productivity of your plant.” 

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Topics: Asset Management