Knowledge Centre​

Administrative asset management is often overlooked, causing duplicate procurement, asset loss, and chaotic inventory—especially in multinational operations. The remedy is a three-part upgrade: build company-wide life-cycle awareness, standardize closed-loop processes (procurement → registration “one item, one code” → usage/maintenance → disposal), and deploy digital tools for centralized, real-time management. Results cited include sharp cuts in idle/loss (e.g., 5% to 0.5%), faster approvals and inventories (72 hours to 30 minutes; 21 days to 4), and lower maintenance and spare-part costs (35% and 40%), making it a core lever for cost reduction and digital transformation.

Work order management is a comprehensive closed-loop system that transforms scattered business demands into standardized tasks, enabling efficient task flow, process control, and result archiving. It addresses key challenges such as informal task proliferation, role ambiguity, and resource waste, which can undermine productivity and collaboration. By breaking down departmental barriers and providing traceable records, work order management supports refined enterprise operations, optimizes processes, and enhances service quality through data-driven decision-making.

This article highlights how the Internet of Things (IoT) is transforming enterprise asset management by enabling real-time monitoring, predictive maintenance, and cost reduction. By integrating IoT technologies with EAM systems and leveraging LoRaWAN for data transmission, businesses can achieve proactive decision-making, operational efficiency, and maximized asset ROI, paving the way for smarter asset management in the digital era.

Asset inventory in large buildings often faces challenges such as information discrepancies, low manual efficiency, data silos, and difficulties in accounting for hidden assets like ceiling pipelines and underground equipment. These issues make the process time-consuming and error-prone. By standardizing information, utilizing digital tools, fostering cross-department collaboration, and implementing dynamic closed-loop management, these pain points can be effectively addressed. Additionally, the adoption of professional asset management systems simplifies the process, enabling precise management, reducing operational costs, and enhancing decision-making capabilities.