Beyond immediate costs, substandard equipment can impact the quality of an organization’s services or products - in turn, affecting customer satisfaction and business reputation.Īccording to the ISO 55000 international standard, asset management should maximize value for money. Failure to meet compliance or regulatory standardsįor companies with large inventories, the results may convert into millions of dollars in lost productivity, repairs, replacement or fines. Without fixed asset management, an organization may experience: The better and more effectively a company manages its assets, the greater the prospect of maximizing value from these investments. In some businesses, as much as 40 percent of investment goes to buying equipment and vehicles. They may comprise a large portion of a company’s net worth. Fixed assets such as servers, transport trucks and elevators require a large capital investment.
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