An article about how decision-making is effectively made easier using an Asset Management Solution from Ramco Systems

1. 70 s oft ware & engineering to ol s A p p l i c At i o n
Decision making made easier
An asset management system ideally should be fully equipped to handle all
aspect of asset life cycle management including budgeting and cost control
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With an aim of providing solutions to key business challenges in asset
management, improving operational efficiencies and enabling informed
decision making both tactical and strategic, an asset management system
helps ensure effective collaboration among various stakeholders in the life
cycle management of assets. ■
Rajeev Singh
a
proposed asset management data – the back bone for analysis and
system is fully integrated and continuous improvement including
offers holistic support for improved and sustained asset performance
business processes from asset planning, and overall cost optimisation. The solution
acquisition and capitalisation, asset has necessary features to manage the
lifecycle maintenance to asset disposal. infrastructure assets in a holistic manner.
Ramco’s integrated asset management Specifically, it can provide solution to key
system offers comprehensive capabilities challenges faced. For example:
from integrating and automating business ■ asset planning
Rajeev Singh
processes, to reporting and analysis for ■ asset visibility and tracking
■
Practice Head - Enterprise Asset Management
Ramco Systems decision support. Implemented judiciously, asset condition inspection and
rajeevsingh@rsi.ramco.com it becomes a rich source of quality business monitoring >
Feb/Mar 2011 | A&D India

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■ route-based inspection and maintenance Risk assessment
planning
■ standardisation and streamlining of The solution provides risk management
asset management processes across capabilities at two levels – risk hedging
organisations for different categories of through asset insurance and risk
assets management from maintenance point of
■ optimisation of maintenance programs view. It also offers a capability of combining
– preventive, corrective, or condition or these two to construct a risk management
risk based dashboard. Risk management from
■ accurate tracking of life cycle cost and maintenance and sustenance perspective a well-planned and optimised range of products
forms the foundation upon which efficient
cost optimisation is a systematic process to identify risks that
■ resource management and productivity may impact on the organisation’s objectives, automation solutions are built
■ decision-making challenges such as: analyse their consequences and develop
• refurbish or replace ongoing measures to treat them.
• ‘level of investment’ decision-making storm water drain filter mesh cleaning,
– capital renewal inspection of roads, bridges, transport
• deferring maintenance Analytical level vehicles, calibration of fire sensors, smoke
• asset insurance – what and how much The application’s analytic tool can integrate detectors in community halls can be assigned
to insure with GIS to provide insightful reporting based on fixed or interval based schedules
• maintenance outsourcing decision – information on the map interface of GIS and preventive, predictive, calibration
in-house or outsource application. Any other unique requirement schedules created accordingly. Resources
Apart from these, in order to get a of spatial viewing can also be supported like spares, skill, tools are scheduled to the
holistic view, it is often essential that the once the details of the needs are known. work orders. Required material and resource
asset management system integrates with planning is supported. A maintenance plan
other applications/IT systems in use. like a half yearly or yearly plan can be created
Life cycle costing and related pending job list, shutdown job
Ramco’s application is built on a holistic list are added and the plan can be reviewed
Asset register perspective, where it is easy to track the life and monitored for finding the status.
Asset registration as a process is supported cycle cost from all perspectives, including
for various possible business scenarios, replacement value perspective. The
such as inducting existing assets, when a traditional asset management approach has
Supply chain management
new asset is acquired, when a new asset been to focus on the operating phase of the A fully integrated supply chain solution
is created (built and capitalised). The asset lifecycle as that is the phase generally including service contracts and MRO
asset registration process is fully geared seen yielding value. supply chain management with purchasing,
to handle maintenance life cycle as well as and inventory control is definitely required.
financial and fixed asset accounting related Ramco’s solution offers mature functionality
attributes. The fixed assets register enables
Maintenance options and costs for efficient supply chain management
tracking all the details of an asset and There are a variety of features that can be for asset life cycle management and has
provides the following information: used to construct standard maintenance the provision to rope in OEM suppliers
■ asset insurance plans (or treatment options). Various as a stakeholder in life cycle management
■ asset warranty maintenance options can be modeled as of assets.
■ asset depreciation standard practices and costing related
■ asset revaluation information can be provided. In order to Summing up
■ asset number assist in decision making, a cost-benefit Ramco’s solution hinges on the concept
■ tag details comparison (e.g. cost -vs- life extension) that the TCO as well as performance of the
■ location of the asset can be provided through the analytical tool. asset can be impacted substantially during
■ date on which the asset is put to use It is entirely possible to construct unique various phases of asset lifecycle if the
■ opening balance of the asset decision models for various categories of same is not managed well. We believe that
■ transaction total during a period assets or asset groups. the solution must allow for stakeholder’s
■ closing balance participation, transparency, and visibility on
There are quite a few features available asset condition, performance, and costs and
for appropriate modeling of assets from
Work planning must support an optimal decision making
maintenance and accounting perspective. Work planning, scheduling and execution based on facts. ■
One of them is asset classification, which with reporting of actual by maintenance Further information at www.AandD24.in
can be very important from planning, work order cycle process is fully provided. more @ click ADI02629
analysis and related decision making. Regular preventive maintenance jobs like
Feb/Mar 2011 | A&D India