Asset management can be a difficult, tedious and time consuming job. But, it’s a critical component of owning any asset, including machinery, so it pays to do it effectively.
Plant Assessor can help you out with asset management, particularly when it comes to the long-term maintenance, safety and compliance of your machinery. Our easy to use, digital platform can help you manage your machinery assets, and extend the life of your equipment. We tell you how in this article.
What is asset management?
Asset management refers to the systematic approach of acquiring, operating, maintaining, and disposing of machinery assets in an effective and efficient way throughout a machine’s lifecycle. It involves strategies and practices aimed at maximising the value, performance, and lifespan of heavy machinery while minimising costs and risks.
What are the benefits of asset management?
There are a number of benefits of properly managing your machinery assets. Some of these include:
Optimising the operation of machinery for increased productivity.
Increased uptime.
Reduced operating costs.
Improved machinery and people safety.
Better regulatory compliance.
Maximising the longevity of your machine.
Maximising resale value should you wish to sell the machine.
The benefits highlighted above show just how important asset management is. Ensuring you have an effective asset management system in place is crucial to owning a reliable and valuable asset that lends itself to your company’s success.
How can Plant Assessor aid in asset management?
Plant Assessor’s unique software platform can assist you in the management of your machinery fleet, particularly when it comes to safety, maintenance and compliance. Take a look at some of these cool features that you can add to your asset management system.
Conducting a daily pre start is a great place to start to better manage your machinery assets. A daily pre start will help to monitor the machine’s condition and diagnose any potential faults that may arise. Without conducting a daily pre start, these issues may go unnoticed, and could turn into bigger issues. This could result in your machine requiring major repairs and may even affect the longevity of your equipment.
The beauty of Plant Assessor’s pre starts is that they are completed digitally via the Pre Start Plus app. It is free, simple to use, and the results can be easily shared to relevant stakeholders. We’ve spoken many times about the benefits of a digital pre start over the old, bulky pre start booklets, so if you’d like to find out more, head to our article What is a digital pre start and why should I complete one?
Risk assessments are the bread and butter of machinery compliance and safety. Risk assessments are a foundational element of any machinery safety system, and should be conducted at regular intervals. This helps to ensure that the control measures in place remain effective in managing the risks, keeping your workers, operators, and others safe.
Corrective action management is one of the main components of a Plant Assessor digital risk assessment. Once you have answered the questions in the risk assessment, and the Machinery Compliance Engine (MCE) has identified the hazards specific to your machine, corrective actions will be recommended so you can control the hazards and reduce the likelihood of an incident occurring.
By implementing these corrective actions, not only will your machine be compliant according to legislation, standards, regulations and best practices, it will also mitigate the risk of an incident. Regular inspections also involve preventative maintenance improving the long term lifespan of the machine.
Servicing and maintenance are a major component of machinery asset management with Plant Assessor. Management of service and maintenance is key to keeping your machines running at peak performance and ensuring a long, healthy life for your machine. With Plant Assessor, you can easily set up regular service and maintenance plan for your machinery based on usage or time intervals, to ensure kept in top condition
Not only can service and maintenance management ensure the longevity of your machines, it can also boost their short term health. This is another key component of machinery asset management; ensuring your equipment is ready to go, whenever you need it. Regular servicing and maintenance scheduled in Plant Assessor can mean less downtime and improved productivity. You can be confident in your machines’ reliability, efficiency and its ability to get the job done.
Plant Assessor allows you to easily manage all of your machines and equipment in a single database, known as the machinery asset register. You can easily see the status of all your machines, and information about pre starts, risk assessments as well as servicing and maintenance all in the one location. Plant Assessor uses the concept of digital twins to keep all of your machines’ records in the one place, so with the click of a button, you know everything there is to know about each individual machine. Without this feature, you could spend hours checking each machine and its documentation, making machine asset management a chore that it doesn’t need to be.
Want to learn more?
While Plant Assessor has a number of features that can be included in your asset management system, it also has plenty of other exciting features to assist you with machinery compliance and safety. You can request a demo, or contact our team for more information. Simply call 1300 728 852 or email info@assessor.com.au.
Disclaimer: This information is intended to provide general information on the subject matter. This is not intended as legal or expert advice for your specific situation. You should seek professional advice before acting or relying on the content of this information.