Why buy new equipment, assets, and facilities when what you have works fine?

by Dan Vanacore on January 15, 2014

I can’t think of one industry today that isn’t considering cost-effective ways to manage their assets, capital equipment and facilities to maximize their longevity and return on investment. Everyone’s thinking about it.

My father once said, “The best kind of car is one that’s paid for.”  A simple statement, but when you think about it, a car that’s maintained with regular oil changes, new tires, battery, and brakes is one that will last a lot longer and will far exceed obsolescence and break-downs if maintained properly over the years, and keeping more money in your pocket instead of having to buy a new car.

CPG companies, utilities, higher education institutions, healthcare, public sector, retail, apartment complexes, and service industries are just a few that all have assets or equipment that need to be maintained and serviced on a regular basis in order to maximize their life expectancy and return of value and profit to a given organization. It’s a lot more expensive when one of these items goes out of service and has to be replaced.  No one likes to face the prospect of replacing forklift equipment, HVAC systems, MRI scanning machines, etc. There is too much at stake not keeping these assets and equipment running as efficiently and smooth as possible. Early replacement is the penalty for poor maintenance.

One way to achieve a stronger maintenance approach is to leverage the latest in integrated Supply Chain systems that tie the ongoing and preventative maintenance to your back-end Financials and HCM systems. It’s far too costly to rely on disparate systems via spreadsheets to try and make all this work together effectively. A well-integrated ERP system that brings together maintenance requirements and ties those back to a work order and order management system through financials helps you maintain your assets longevity and provides better visibility throughout your supply chain.

Add to that mobile capability for field sales and or technicians and you have the complete package. PeopleSoft’s EAM system does just that in an integrated way and does not require any 3rd party integration.

It works…out of the box. It’s as Apple-y as PeopleSoft has ever been, and that’s a good thing. Smart integrations done right are, to sloppily paraphrase Arthur C. Clarke, indistinguishable from magic.

For many organizations today looking to save money and drive this savings to the bottom line, implementing an integrated EAM-Enterprise Management System like PeopleSoft is a cost-effective measure when you are trying to watch where your dollars are spent in a very competitive economy.

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