The general definition of an asset is a resource with economic value an individual, corporation, or country owns or controls with the expectation that it will provide a future economic benefit. Objective of an asset owner is to:
- maximize the useful life and output
- improve safety
- lowering operational and maintenance cost
- extend life
Global Asset Care (GAC) believes an asset owner should save time, have more comfort and peace of mind in maintaining their assets.
Asset Care is to establish a systematic process to maintain and inspect the assets to find the cause of failure and fix before failure of their functionality and reduce the risks and expenditures. Every asset has its own life cycle and maintenance recommendation from the manufacturer. The Asset Care System will optimize the maintenance functions between manufacturer’s recommendation and the asset owner’s affordability and expectations to extend life of the asset with proper functionality.
An asset owner can achieve a significant benefit by implementing Asset Care. Benefits might vary from owner to owner. The following are few significant benefits of Asset Care:
- Reduction in maintenance and operation cost (i.e. planned maintenance reduce labor and material cost)
- Improve assets availability in good working conditions
- Better maintenance financial planning (short-term oil change for car, and long-term maintenance i.e. changing roof or furnace in 5 years)
- Traceable maintenance history
- Enhanced satisfaction from improved functional, health, safety and environmental performance.
Source: Based on several research papres