Strategic asset management is an organizational mindset built on the premise that physical infrastructure assets are a key enabler of business goals. Asset management is an essential capability in this holistic view, which is endorsed by the BS 65000 guidelines for Organizational resilience.

Effective maintenance can help you reach your goals, whether that’s to reduce downtime, lower repair costs, increase productivity, or increase the reliability of equipment. It is essential to first comprehend the performance and requirements of your equipment. This requires creating a comprehensive and precise inventory. It is also crucial to devise strategies to acquire new assets, placing an emphasis on their potential for long-term value and their alignment with business objectives.

Once you have a solid foundation that is solid, you are now ready to move from a reactive approach to a proactive one. This means avoiding common mistakes that many companies fall into, like not aligning maintenance tasks with strategic goals, misinterpreting data or not making regular comparisons with baseline reporting.

You can avoid these issues by integrating your strategic asset management into a computerized Maintenance Management System (CMMS) that is designed to connect all the pieces of your operation puzzle. You’ll have the transparency and transparency that you need to not just identify areas for improvement but also to bolster your argument when it is time to justify your secure data room strategies for M&A budget request.