Maintenance and repair of equipment such as trailers, containers, etc. can often end up being a costly and time consuming procedure. Manually checking and repairing your assets could take up a considerable amount of time per month, translating into heft yearly sums. Manually checking assets in one of several ways a company can lose money through essential maintenance and repair – admin costs, recharges, unknown manufacturing defects and missed damage protection plans can all result in lost revenue at the end of the financial year.
Take these examples: manually monitoring turn-time would take around 5 days per month, translating into approx £3,000 per year. Unkown manufacturing problems can also be expensive – if you estimate 2% of 10,000 units has an unspotted £100 defect, this alone would cost £20,000 per year.
So how do you manage the maintenance and repair of your assets in a way that minimises yearly costs?
The ideal solution would be comprehensive asset management software, which will cut down yearly expenditure via detailed and comprehensive asset tracking. The utilisation of specialist software would allow for far more efficient asset usage; minimising any downtime of either owned or leased equipment. Asset management software can also provide you with several automated functions, including providing automated reports which are capable of re-allocating costs from third party suppliers to the end customers, and automated monitoring of equipment turn-time, ensuring they’re always ready to go for the next job. The software can even keep track of your Damage Protection Plan (DPP) coverage, automatically tracking and updating all available policies.
Dedicated and specialist software for the cost effective management of fixed assets will only help to make a business more profitable and help any company be more competitive in an ever increasing global market.
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