COST OF POOR ASSET INFORMATION MANAGEMENT


The factual scenarios cited in the case studies is a tip of the iceberg in regard to what is ailing most organizations. It is worse in mega organizations and giant businesses that spawn our planet. It is a domain that if not given proper attention can prove to be not only costly but a death knell to once successful organizations.

access-control-cctv-alarm-integrationLack of proper Asset Information Management easily leads to Asset performance problems. This is because any data or information that is being collected from the specific asset is not being properly utilized. Collection of Asset information is just not enough if it will not be coupled with a practice that ensures the information acquired is used by the organization to reap benefits from the said assets. Improper Asset Information management also leads to poor asset utilization, low maintenance efficiency and high MRO (Maintenance, Repair & Operation) costs. Some organizations have also reported risks of Safety, health & environmental incidents due to poor asset information management.