Want to know in practice how to use technology to plan and execute your asset management? Then request a demo and meet Manusis4!

One of the main responsibilities of asset management is to identify the losses that can occur in the company’s assets. These failures can be caused for different reasons, but losses in asset management, when using the right tools, can be handled quickly and efficiently.

We’ll explain in this post what are the main sources of losses, why it’s important to identify them, and how asset management can help you with this task.

What are production losses?

The losses in the production process can be quite diverse. But when we talk about asset management, the losses mainly refer to losses of:

  • productivity: reduced performance in the execution of activities, either by problems in the work of operators, or by technical problems in the machines;
  • materials: waste of products and insums.

Why is it important to identify losses in companies?

Both loss of material and productivity can represent a huge financial loss for the company. After all, raw materials and other inventory items represent assets of value to the business.

In addition, it is necessary to consider that some losses can result in environmental risks, a fall in the quality of life of workers and even threats to the safety of operators. Therefore, it is essential to identify these losses to correct them quickly.

What are the main sources of losses in companies?

Losses can occur due to several factors, such as human errors, system failures, or faulty equipment. Identifying these losses in asset management early is essential to minimize losses.

Human mistakes

One of the main reasons asset management can fail is human error. People may forget to register assets or not perform the proper maintenance. In addition, they may also use equipment incorrectly, causing irreparable damage.

System failures

Another problem that can affect asset management is system failure. If the software is bug-enabled or poorly developed, this may cause problems when registering and managing company assets.

Faulty equipment

Defective equipment may be another cause of loss for the company. If an equipment is not working properly, this will directly impact the company’s productivity. In addition, if equipment breaks down and no spare parts are available, this will also be considered a loss.

How can asset management help you identify losses?

Asset Management is essential for companies that want to improve the efficiency of their production processes. It allows you to identify possible losses with equipment stops and failures, thus reducing operating costs. With this tool, companies can monitor their assets, manage risks and increase productivity.

One of the ways to do this is to invest in technology and automation, which allow greater control over the production process and reduce human errors. Software specialized in maintenance management (CMMS) provide all the necessary tools so that managers can ensure agile, safe and simple management of all facilities and machines.

These software can also predict potential failures through devices connected to machines that share real-time data (Internet of Things – IoT). In addition, they assist in the registration and execution of all work orders.

By identifying losses in asset management, the company contributes to measures to minimize them and prevent them from causing irreparable damage to the business.