Asset Management

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Asset Management in a Volatile Economy

Volatile as the economy may be, asset management may still stand and survive to keep your company in top shape. Organizations and companies with proper asset management tend to go farther in terms of productivity and results. The good thing is that asset management is a holistic effort of the components, and is something that is really meant to be shared within the bound of the company. You don’t need to outsource asset managers to do it for you if you know how to go about it. Here are some strategies that will ensure that your asset management will withstand any economic storms.

Asset Management Strategy 1: Go for the solid assets

By solid assets, we mean assets that are not easily threatened by changes. If you have some stocks, which are highly volatile in nature, have some investments on established entities as well. This may oppose the “Nothing venture, nothing gained” adage but a certain measure of security is still vital for success.

Asset Management Strategy 2: Ensure support from the higher ups

The higher officers of your company must support your endeavor to managing assets of the company if it were to materialize fully. The support will also prompt other members in the company to be mindful of the undertaking.

Asset Management Strategy 3: Set your priorities

You must always have an outline. What are your priorities? If your priorities are to establish one’s security, you might have to be more rigid with your asset management tactics. On the other hand, if you are planning to venture out and expand your company, you may have to manage your assets in a way that it is more open for change and risk. However, you must make risks that are calculated and make sure that you can bounce back should things go badly.

Asset Management Strategy 4: Easy does it

Make changes gradual, if you are to introduce them. Don’t shock the system with revolutionary changes. In order for it to last longer, there needs to be at least a period of transition for any undertaking. The same thing goes with asset management.

Asset Management Strategy 5: Determine patterns and learn from them

If there have been instances that occur again, make sure that the current system is able to learn from its past mistakes. This self-learning quality is one of the ways in which you can ensure that the asset management system will be able to endure even the toughest economic shakings. It would be completely useless

Asset Management Strategy 6: Get the best tools available to you

If you are talented in managing assets but undermanned when it comes to resources, you may be in for a losing trend. The technology today enables you to manage everything from the desk and without much hassle. So make the best use of the technology while it is made available for you.

Asset Management Strategy 7: Review the facts regularly

Regular review is the lifeline of asset management. If your last inventory was a decade ago, then your assessment may not be at par with the demands in a company over time. Update the inventories, keep stock and review the statistics regularly. In that way, should hard times come, you will find that you have a ready answer because you know yourself fully well.

What Can You Learn In An Asset Management Training?

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The first thing that you will learn is that assets also have lifecycles. It has four stages that all different firms consider. It starts with planning and then procurement. This includes considering which or what to procure, order, receive, and test. The thing is to manage daily business operations in order to take advantage of productivity. If you want to have balanced returns, you need to know the operation costs of the company and compare it with the existing assets and profits

. And the last is ensuring the accurate payment of taxes, as well as considering amortization, depreciation, and other related costs.

Through asset management training, you will also learn to identify the right tools to use in asset management. Remember that the tools are simply elements to make asset management feasible. Each company and organization is unique and it has its own objectives and needs and so the processes used in asset management may also differ.

By definition, asset management is all about managing assets that were invested by different sectors. So if you want to become an asset management advisor or part of the team, you must undergo proper training and you should also have enough experience in order to be considered as one of the best in your chosen field.

You will learn from your training that assets consist of chairs, desks, factory equipments, computers, and buildings. You need to track all these assets but aside from that, it is also your responsibility to manage the demand for such accounts and resources for depreciation and asset values. By organizing all these pieces of information, you can have all the vital data needed by the company.

After the training, you can already espouse proper and timely management, tracking and asset disposal, and maintenance; and you can do this for corporations, companies, and even individuals. As an asset management advisor, you can help in managing the asset-loss risks through time. This is a very important aspect both for individuals and businesses. It can also help in increasing sales figures and handling costs over time. You can now maximize the utilization of financial assets.

If you want to become an expert or at least a knowledgeable person in asset management, you must get the proper training. Only through training can you gain knowledge and experience so that when you’re already out in the real world of business , you can perform at your best. So what are you waiting for? Be part of the asset management team or department and secure the right training.

Source: Free Articles from ArticlesFactory.com

Author:

Sandra Stammberger owns and operates http://www.assetmanagementunited.com/assetmanagementtraining.html - Asset Management Training

What is 'good' Asset Management?

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Asset Management is the management of physical assets (their selection, maintenance, inspection and renewal). Asset Management is the art and science of making the right decisions and optimizing these processes.

The different asset classes are stocks, bonds, real-estate and commodities.

Infrastructure owners have used ‘Asset Management’ to describe the caring for, making best use of, physical plant, infrastructure and facilities. (Interpretation of British Standard Specification PAS-55)

PAS-55 highlights the need for performance-accountable asset-business focus. Asset Management system is how an organization delivers its business goals with a clear picture of how and why business intentions are converted to ground reality.

PAS 55 defines Asset Management as “Systematic & coordinated activities and practices through which an organization optimally manages its physical assets and their associated performance, risks and expenditures over their lifecycles for the purpose of achieving its organizational strategic plan.”

How does a company get there? How do we know, and demonstrate, what is ‘optimal’? How can responsibility be established? How do we develop the skills, tools and processes to establish and sustain such an environment in the first place?

Industrial process, utilities and service companies have, over the last 5 decades developed greater specialization in niche functions. The effect of this has been to create more and narrower silos of contribution – design, construction, operations, maintenance, human resources, finance etc.

At senior management levels, the adoption of an “Asset Management” model has been interpreted to mean a new mix of functional responsibilities (new silos?):

- Asset ‘Owners’ – dealing with regulators and other stakeholders - Asset Managers – decisions on direction and strategy - Service Deliverers – work resources & methods

This emphasizes the need for directional thinking (what is worth doing, where, when and why), not just delivery efficiency (doing the same thing quicker, cheaper). ASAP Systems has 20 years of experience in Inventory Control Software and Asset Management Solutions.

Inventory Software & Asset Management

ASAP SYSTEMS

Achieving Successful Asset Management Growth

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Asset management growth is indisputably one of the goals of any business organization. This is tangible evidence that the industry has undertaken successful asset management, and is already experiencing general growth and improvement. It also implies that the enterprise has chosen the right asset management system and module, one that works compatibly with the already existing systems within the company.

Asset management gathers even greater importance during these technologically advancing times. Gone are the days of manual work; the administration of assets today has certainly evolved to include diverse and complex database systems and reliance on accurate and timely information.

What makes for effective asset management?

Asset management should be on the forefront of the strategies being adopted by any industry. However, it will be futile to speak of asset management merely on the tangible sense, since the generation of businesses nowadays relies heavily on technological systems and data maintenance. Thus, in order to be wholly effective, asset management must allow for both the hardware and software assets of the company.

Essentially, asset management must make room for the effective organization of production, facilities, transportation, and even digital assets. The budgeting, procurement, maintenance, and depreciation calculation of the fixed assets must be undertaken with value maximization and cost minimization in mind. Asset management solutions being offered to various industries nowadays have organizational modules on managing assets, human resources, materials, and softwares.

Asset management systems must provide tools for improvement on assets return and cost-cutting of asset ownership. These systems must also assist in license compliance and promote enhanced security. Especially for businesses that span different branches in different locations, a good asset management solution must have facility for assets tracking, whether these assets are physical or intangible.

The growth goals of asset management

In order for asset management to be successful, it must be able to achieve several goals. First of all, it must assist industry managers in making the best use of its assets. It must be able to pinpoint which assets need to be worked on, and which of these are just being idle. Simply put, asset management is geared towards bringing about greater value from the assets of the company, and using them to achieve more competitive performance and productivity.

Asset management tools should also be effective in the curtailment of asset ownership and the calculation of asset-related risks. It should also be able to provide for accurate inventory control and data storage. Most of all, it must engender wiser decision making where assets management is concerned, in the face of consistently shifting technology and cutthroat competition.

Why asset management is essential for organizational growth

Asset management encompasses not merely the actual physical and intangible assets of any organization, but more importantly, the effective utilization of each. This essentially means that asset management caters to various disciplines- from administration to engineering, and from production to information management.

With successful asset management, growth is imminent. Labor and production becomes efficient, downtimes on equipment and facilities are minimized, and the total cost of fixed asset ownership is significantly reduced. Solutions for better asset management are available from providers, all offering different solutions to the more specific asset-related concerns. Organizations must be able to pinpoint the areas that need to be enhanced, seek the assistance from management solution providers, and to work alongside these management tools.

Asset management growth is not a one-way street, nor is it expected to happen in a momentary tick. Asset management will continue to shift and evolve, and industry managers must be able to understand this from the beginning, to achieve the most favorable results for the entire organization.