With today’s scarcity and rising costs, operational controls for our organizations have never been more important. Think about it – once you get past payroll, fixed asset investments are normally your second highest operations cost. Any improvements you make here can provide a substantial impact.
You may hear the term “fixed assets” in a variety of contexts. What I’m referring to here are the investments in the tools that sustain or even optimize an organization’s operations. So you can see where any impact or improvement we can make on the return of that asset investment would go directly to your bottom line.
I think about these things a lot. After all, our mobilePLUS solution is directly tied to optimizing the management and use of your asset investments.
If you’re starting to think more about your assets – or ways you can start streamlining your asset investments – consider the following three areas. Over the years, we’ve found they can assist any organization in their asset optimization efforts:
Utilization – The entire purpose for the initial investment of an asset is tied to the return it is intended to deliver. Not achieving that purpose directly impacts the asset’s ROI. Having stronger visibility of an asset’s utilization is critical to ensuring its return.
Costs – Besides the original investment cost of an asset, you have the ongoing investment required for its management and utilization. One of the biggest factors is the periodic checking on where it is, how/when it’s used, and its historical performance. Given increasing labor costs, the effort surrounding managing these assets will naturally rise too.
Availability –With the current supply chain challenges, goods aren’t as readily available as they recently were, and their prices have definitely increased. Quick replacement was once a go-to approach for dealing with misplaced or mismanaged assets. However, replacement tool costs are frequently exceeding original purchase prices – if you can even get your hands on the item. Maintaining awareness of your assets and their use will minimize your need for the replacement approach – and avoid blowing out your operations budget.
While we can’t replace some of the other issues we’re all facing today, we can help you with your operations costs through improved asset utilization. Solutions like mobilePLUS can minimize the time, effort, and costs surrounding your asset management activities – and it can generally pay for itself after its first use.
We would welcome an opportunity to show you how we can impact your specific operation. Let us demonstrate how mobilePLUS can play a vital role in your asset optimization efforts.