Posted by: Jackie Luo, CEO, E-ISG Asset Intelligence Optimizing asset utilization directly contributes to the bottom line: reduce costs, increase return on equity. The key is to use the right data to improve decisions. Organizations have all kinds of data, but what are the criteria for the “right data” when it comes to optimizing the use of equipment and other physical and IT assets?
Guest contributor: Amanda Watkins What do back-to-school season and equipment inventory audits have to do with each other? Well besides occurring around the same time, they actually can leave similar feelings of dread. If you’re facing the task of auditing your assets and haven’t even started to inventory that equipment, it can feel like showing up to a Beverly Hills high-school, wearing last year’s trends. It’s an overwhelming and scary feeling; like even though you haven’t started, you’re already wrong.
Guest Contributor: Amanda Watkins Winding down this series on property management standards, we’ll again address three new standards in this blog entry. This week’s topics will be: Moveable Property Storage, Management of Low Risk Property and Uniform Data Management in Asset Management Records Systems.
Guest Contributor: Amanda Watkins Let’s start off by addressing a change: the Standard Practice for Calculation of Equipment Movement Velocity (EMV) is now being revised to “Standard Practice for Calculation of Asset Movement Velocity (AMV)." It is generally accepted that the AMV is a measure of calculating how frequently assets are moving in, out of, and around an organization. If an asset is primarily stationary, it will have a smaller AMV than an asset that moves frequently. Tracking and calculating the AMV of assets enables property managers to make comparative insights to the operational aspects of their fixed and mobile asset inventory. Knowing the frequency of acquisitions, dispositions, and moves in a facility can greatly improve ROI, productivity, and the bottom line.