Where are my assets?

Asset Inventory Identification

It is not only vital to create an accurate asset register but also to maintain its accuracy but where do I start?

The best place to start is to first identify what if any information already exists. Engineering records, a manual asset register, an existing electronic database of assets, information from a previous system, technician spreadsheets. All of these would make a useful starting point but would still require a walk of the facility for verification of assets and locations.

If no existing information is available then it will require a walk around through the facility, to identify and list assets and their locations. This exercise will invariably require the assistance of an experienced resource who has a good knowledge of the facility.

Whatever information is identified should be recorded on to a structured spreadsheet, which then needs to verify and authorized by appointed facility management, before proceeding further to create the Asset Register.

There are a number of methodology and technology sources and devices that are available and that can prove to be very effective when gathering asset information to compile the register.

Methodology and Technology – Hand-Held and GPS

Here are some handheld instruments that can be utilized in the correct environment as well as GPS.

Have you lost an asset recently?

Technology tracking is a possibility if a valuable asset has a GPS fitted.

Several years ago we had a contract in the Middle East to locate, identify and create an asset register. When verifying the assets with existing purchasing records, it was discovered that a valuable asset was missing. A further search yielded nothing until someone remembered that this particular asset had been fitted with a GPS tracker. We contacted the manufacturers in South Africa and obtained the tracking number and this enabled us to locate the asset, which had been left behind a large sand dune and ultimately covered with sand as the desert winds blew.

The sand damage caused a totally different set of maintenance rules to get the asset back to full working condition.

Methodology and Technology – Bar Code Identification and Labelling

I think most of us should be used to the idea of barcoding now as most consumer products that we purchase are supplied with bar codes. They are relatively inexpensive as are the readers and can have numerous uses to improve accuracy and speed. We have been involved in some very large barcoding projects and the impact on operations, relative to the expense of this technology is huge. Also, note that different applications may require different qualities of labels.

Methodology and Technology – Images and Tagging

There are various images and tagging devices available to assist as well as asset technical drawings all of which can prove to be good sources of information.

Methodology and Technology – Guidelines and Examples

To summarise the process these are general guidelines to be followed:

All of these as previously mentioned should be recorded or imported onto a structured spreadsheet for verification and authorisation.

We can also see from the following list that there is potentially a lot of additional information that can be collected as part of the Asset identification process.

The importance of an accurate and effective asset register cannot be overemphasised. The asset register forms the key foundation database for all maintenance activities. Unless this is in place with the relevant disciplines and supporting maintenance activities, then your life cycle wheel will go no further and worse still you will go into reverse mode and start knocking on the door of reactive maintenance again. Don’t allow yourself to go down that potholed and worn route.

Get Proactive. Get your tools together and get that asset register drawn up effectively and accurately and position yourself for success.