Orsus Build Event will be held on May 25th, 2018.
Undoubtedly, organizations are shifting their focus for implementing agile enterprise architecture practices to maximize the return on investment in assets through the reduction of operating costs and better utilization of assets.
In fact, the influence of technology innovations and digital transformation has helped evolve various aspects of enterprise asset life cycle management and create competitive advantage. However, designing a robust asset management strategy is an essential element in dealing with addressing the challenges associated with it.
Here we’ve listed some of the biggest challenges that your strategy should address.
With distributed nature of asset management, companies need visibility into all inventories in a central repository, throughout their life cycle. To maintain accurate inventory control, a unified platform should manage asset stock by collecting and consolidating inventory records, facilitate tracking assets that are in multiple locations and their whereabouts, and always allow to access comprehensive asset information.
To make better management decisions, organizations are looking for ways to streamline and automate processes, including provisioning, procurement, maintenance, and life cycle activities. To help streamline, a framework strategy requires coordination of all requests, including asset provisioning workflow approvals, requests related to on-boarding assets, creating POs, transferring assets, scheduling them for maintenance, etc.
With the ability to automate and improve contractual processes while satisfying governance regulations, a platform should adopt “what if” scenarios for identifying and controlling risks associated with assets, including financial commitments, and auto renewals with a proper review process. Furthermore, it can effectively contribute to gain complete support for all the contracts (including maintenance, warranty and insurance), secure electronic repository and instant access to contract information.
The system must have real-time collaborative tools to combine people and processes for addressing maintenance and other life cycle activities, including repair, hold and disposals. At the same time, it must provide better insights into the utilization of assets, their status and depreciation over time to make sound decisions and get optimum time to perform maintenance.
ORSUS™ Asset Management helps organizations to implement an incisive asset management strategy to address the concerns mentioned above. This ubiquitous solution provides a complete suite of services, including asset tracking, inventory control across multiple geographies through the warehouse and asset pool functionality, asset contract management, maintenance and life cycle management.
It can support the need to accommodate integration with in-house as well as other industry-leading applications to meet demanding and specialized requirements.