Indispensable Technology Suites for Fixed Asset-oriented Organisations

Many asset-intensive industries that utilise critical infrastructure rely on fixed assets’ performance, sustenance and health. A single spontaneous failure in one of these assets can lead to substantial losses, fill-scale system downtimes, and even lead towards the loss of trust and reputation of companies. Some of the main industries that depend on fixed assets’ optimal performance and longevity are automobile engineering, energy, oil and gas, transportation, water and wastewater, mechanical assets, manufacturing, semiconductor, telecommunication, healthcare, and more. Today we will be discussing a few technological tools and features that fixed asset-oriented organisations can use in Singapore to overcome the shortcomings in deploying, managing, maintaining, utilising and recovering fixed assets.

Technologies that Boost Fixed Asset Management and Maintenance

Retro-fitting asset diagnosing and inspection methods can no longer pinpoint root causes and bottlenecks of asset performances and control the risks and asset expe future optimally. This is why many asset managers in asset-intensive industries tend to adopt technology solutions like EAMs (Enterprise Asset Management System), Asset Predictive Analytics System, Building Management Systems integrated with Facility Management & Property Management System and Real-time BI (Business Intelligence) Systems to reap the wealth of asset data. Gathering actionable insights from such technology suites will help the asset managers in identifying the fact-based statistics of how much reliance can be kept on the asset-based on their reliability, criticality, lifecycle and efficiency in operations. Here are the 3 most intriguing technology suites that must be adopted by fixed asset utilisers in the industrial world.
Asset Predictive Analytics System
Asset Predictive Analytics System is a technology suite that intricately keeps track of the performance metrics, lifecycle and degradation and asset-impacting environmental parameters of all assets. This technology solution can be implemented to manage a part of an asset, a single asset, or an asset system that is installed in a factory, city or event across a whole state or country. Therefore, an Asset Predictive Analytics system is one of the most useful and soon indispensable solutions for all asset-centric industrial centres.
Noteworthy Features of an Asset Predictive Analytics System

Fact-based Degradation Curves

Degradation curves in this solution help the asset managers to keep track of the dynamically degrading assets. Understanding the trends and patterns of how assets degrade gives an amazing predictive advantage for fixed asset managers. These tools can identify the decay patterns, record malfunctions under given conditions, and track down all noteworthy degradation scenarios for later analytical purposes.

OEE Analytics Tools

One of the main levels that must be continuously measured and constantly hoisted is the OEE (Overall Equipment Effectiveness) of fixed asset systems. The instrumentation and PLCs that connect all assets together allows the asset managers to remain from manually investigating all assets. Instead, this tool automatically diagnoses the OEE levels of a target asset premise.

Financial Viability Checkers

This solution can also foster tools that help you keep track of fact-based financial investment requirements. This tool eliminates all the false financial deductions, misleading investment plans, and tailor budget profiles that cover only the necessary costs based on the criticality and health of fixed assets. It can be powered by AI (Artificial Intelligence) to automatically prescribe or request financial funds based on actual requirements and not based on a gut feeling of inaccurate estimation.

Predictive Analytics Tools

The predictive tools of the Asset Predictive Analytics System also allow asset managers to predict the impending asset failures, risks, threats, performance declines, financial requirements, maintenance requirements and many other critical decision-making events. The trained AI and ML models of this solution help asset managers to ensure that no asset management or maintenance event is not overlooked as essential conditions of an asset. It can buckle up diagnostic and maintenance service teams to be ready and dispatched at the right moment by using BI (Business Intelligence) tools.

Benefits gained by an Asset Predictive Analytics System
    • Eliminate unnecessary costs and funding
    • Ensure all assets are diagnosed and maintenance ed optimally
    • Have an undying reliance on the performance and health of fixed assets
    • Overcome all the drawbacks of age-based asset management systems
    • Plan ahead of time to pinpoint economic, environmental or social threats in utilising degrading assets
    • Predict risks, costs and threats that affect the asset systems
    • Understand the dynamically degrading pattern of assets
Building Management Systems
There are organisations that rely on the study of nature, strength and powerful longevity of facilities and property. Real estate, governmental building structures, merchandise, the entertainment industry and more. Ensuring that the construction, demolition, maintenance, repairing and renovation of buildings and property are other main challenges. Here are some of the main features and benefits of using a Building Management System for industries that rely on building structures and property.
Noteworthy Features of an Asset Predictive Analytics System

Management Integrators

Integration is the key to all modern technology solutions. Optimal Building Management System Solutions use integration technologies to connect all departments, administration and outsourcing services to a centralised point. Also, this integration is never limited to a single facility, it can be stretched to multiple locations allowing the building and property managers to ensure all operations and managerial activities in several locations are executed efficiently even if they are not physically present in any of the locations.

Real estate agents can use these integrators to integrate the BMS (Building Management System) into their rental or occupancy modules. This way they can clarify whether the building maintenance services would affect the stay of its inhabitants. It can be integrated into contracts, facility booking systems, work order management modules and many other related modules to get a robust view of the building’s operations and sustenance.

Maintenance Program Implementers

Based on the structural and conditional health of buildings, the maintenance program implementers embedded in these suites can even help the managers to schedule maintenance, renovation, cleaning, repairing and other utility service crews to ensure that all the functions of the facility are uninterrupted. This includes the water, electricity, gas, hygiene, security, ventilation, parking space, lifts and elevators and other important factors that make a building a promising place for its inhabitants.

24/7 CCTV Surveillance Integrated to Security Centres

Learning the satisfaction and safety of inhabitants and tracking who enters and leaves the building is a critical security factor that ensures that the building is not jeopardised by suspicious visitors. This feature not only protects the ending but the inhabitants of the building too; making it an amazing tool for real estate companies to pitch deals by ensuring the safety and privacy of potential buyers.

Reports and Analytical Insight Generators

Another intriguing feature of this suite is that it offers amazing analytical and report generation options for building and property management teams. As the data of all the properties and buildings are accumulated by the integrators, the building managers can use these features to generate actionable insights into how efficiently the building is maintained, renovated or managed by the teams. They can use this data to foresee impending building maintenance requirements and execute plans and risk mitigation initiatives that baked the economic viability, inhabitant response and maintenance criticality of buildings.

Benefits of an Asset Predictive Analytics System
    • Can deploy for more than one building structure or property
    • Ensure all maintenance, cleaning, repairing services are done on time 
    • It is the ultimate technology solution for real estate agents and companies to keep track of all operations
    • Keep track of threats and suspicious activities of premises
    • Manage the access of the building and understand the frequency of the building used for analytical purposes
Enterprise Asset Management System
The Enterprise Asset Management System is a robust asset management tool for enterprises to monitor all business operations while managing assets efficiently. Most people confuse this suite with the Asset Predictive Analytics suite but Asset Predictive is only an element of this solution. EAM solutions help fixed asset managers in large-scale businesses to oversee systems laid over plant-wide arenas. It connects all asset statistics with labour management, process scheduling, plant contingency planning, resource expenditure, document management and more.
Noteworthy Features of an Enterprise Asset Management System

Asset Management and Maintenance Features

Assets like vehicle fleets, production equipment, facilities, production lines and more. These features help the asset manager to keep track of all types of asset classes, which are dynamically degrading in different locations. The visualisation tools of these features offer interactive and scalable systems to view all asset degradation patterns, lifecycle curves, criticalities, defects, health statuses, costing agendas, real-time and future failures and more. They help the managers to balance the risk, cost and performance of all assets under a single screen.

Business Integration Features

Optimal EAM solutions offer complete integration with all other business software modules. The asset performance and health statistics can therefore be connected to the supply chain operations, accounting departments material, resources and spare parts warehouses, plant engineering plans and moany aspects that are related to assets. This is an ideal integration solution to ensure that all asset management initiatives do not interfere with the critical operating conditions of an industrial establishment. One of the most important functions is ensuring plant operations, so, this integrative will ensure that the plant or site operations are seamless and efficient in utilising assets at their best conditions.

Reporting and Documentation

Reporting tools that indicate all KPIs and event-driven insights is another advantage of employing EAM solutions. As this suite is embedded with AI-driven analytical protocols and ML (Machine Learning) models, asset managers can report about asset conditions whenever they want. These tools can be automated to generate periodic reports on the reliability, remaining life cycle, performance fluctuations, contingency planning methods, resilience and longevity of all assets. The decision-makers and critical asset-based stakeholders can use this tool to avoid the consequences of estimations and make powerful asset decisions based on actual facts and figures.

Benefits of an Enterprise Asset Management System
    • Allows advanced fact-based analytics of all operations that are related to assets 
    • Can be enabled via robust visualisation tools for one-glance-insights of all assets using smart dashboards
    • Ensures support services are alerted of impending asset integrity threats 
    • Offers the best insights for asset-based decision-making for the sake of the business
    • The Computerised Maintenance Management System (CMMS) deliver a substantial competitive advantage by reporting KPIs

Technologies Will Keep Adapting to Keep Your Fixed Asset Healthier

Technology never ceases to evolve; with time, it will keep on revolutionising the efforts that are made by asset managers to ensure that asset-relying companies will not face the impacts of asset degradation, age-based asset maintenance plans and other limitations faced by traditional asset maintenance approaches. By being updated on the new technologies, companies can move forward with exemplary asset management and maintenance initiatives. By being qualified to operate with value-driven asset upkeep technology, any business can thrive and seamlessly operate in future. Thus, ensuring that the world is offered seamless eco-friendly, socially-favourable, and economically feasible asset management techniques.