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Glossary

Get Your Maintenance Management Terminology Down!

Asset Management

Asset Management is the process of managing physical assets to ensure they are used efficiently and effectively to meet an organization's goals. It involves the identification, acquisition, maintenance, and disposal of assets in order to maximize their value and minimize their costs. Asset Management includes the tracking of assets, the monitoring of their performance, and the optimization of their use. It also involves the development of strategies to ensure the assets are used in the most efficient and cost-effective manner. Asset Management is an important part of Maintenance Operations and Management, as it helps to ensure that assets are properly maintained and used in the most efficient way possible.

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Our Blogs

With a quick Google search for “preventive maintenance software,” you’ll quickly find ...

23 Nov 2023

US manufacturing is making a coming back. McKinsey's research reported that, by ...

16 Nov 2023

Traditionally, maintenance tasks were often managed using paper-and-pen, relying on ...

15 Nov 2023

Maintenance, Repair, and Overhaul (MRO) ensures the optimal functioning and longevity of ...

10 Nov 2023

From manufacturing plants and healthcare facilities to transportation services, equipment ...

9 Nov 2023

As a maintenance professional, I've witnessed the incredible transformation our industry ...

6 Nov 2023

Maintenance and facility management functions are not just about preserving assets and ...

3 Nov 2023

There is much to consider when purchasing a Computerized Maintenance Management System ...

1 Nov 2023

Introduction Despite the growth in the Computerized Maintenance Management Software ...

26 Oct 2023

Facility management plays an important role in ensuring that organizations' ...

25 Oct 2023