What are Best Practices for Asset Management?

You’ve probably heard the term “Best Practices” before. You’ve probably just lumped it in with the corporate jargon that your boss uses when he’s trying to tell everyone to do a little better. It likely gets thrown around with terms like “Synergistic Management Solutions” and “Progressive client-centric processes.” But, unlike a lot of other jargon, Best Practices means something that could mean a big difference in your job.

Best practices can be defined as the procedures that are accepted or prescribed as being most effective. In lay man’s terms, best practices are the tested and verified best way to do something, in this case, Asset Management. There are best practices for just about everything in every industry, from trucking to manufacturing to running a government, and even managing facilities. What is more, there are best practices for individual assets within those industries as well.

If you are in an industry that deals with vehicles, for example, then there is a best practice for maintaining those vehicles that includes things like regular oil changes. There’s also best practice for operating those vehicles that includes procedures like not running red lights or following traffic laws.

If you are maintaining your company’s facilities, your best practices include replacing older lighting with LED’s or inspecting the HVAC to make sure your energy conservation is increased.

Knowing these best practices is an important step to learning to manage your assets better. Best practices are more than just common sense, too. They are the insights that come from in-depth study and research that might not be apparent at first glance. Using an asset management software like ManagerPlus allows you to implement those best practices without reinventing the wheel.

In asset maintenance, best practices are important because they will keep your equipment running longer at peak efficiency. Usually this means doing more than just repairing assets when they break down. It means doing the regular maintenance that is going to make sure they stay running as well as possible.

One of the best practices for businesses with important assets is to use software to ensure that maintenance occurs on time and according to schedule. ManagerPlus is exactly what you need to both schedule your maintenance and track your asset performance so you know exactly what is going on, and how to reach new heights of efficiency and productivity.

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