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Who Drives Asset Management in Your Company and What is Asset Management?

I Was in the Dark Remember the adage, “If everyone is responsible, then no one is responsible.”  I spent the first six years of my career as an Army Officer in charge of soldiers and facilities that perform equipment (trucks, generators, missile launchers) repair.  I later worked in the civilian […]

WHAT IS ASSET MANAGEMENT?

Definition by Example Most industrial companies make capital equipment purchases on a regular basis.  Much care is taken to ensure the equipment item is fit-for-purpose, competitively priced, and properly accounted for in terms of how the budgeting for funds to purchase (and possibly finance) the equipment is managed.  But, what […]

Enterprise Asset Management System – You Got This?

   What can strategically integrated Enterprise Asset Management (EAM) software do for your company?  Do you have physical assets, capital equipment, maintenance procedures, spare parts inventory, and equipment certifications?  How does your company manage these diverse operational areas?  If your company is like most others, there is no central repository […]

Asset Walkdown – Know Your Assets

   When does an asset walkdown typically take place?  One example is the acquisition of a new rig, equipment storage yard, or an industrial facility such as a refinery.  For the benefit of brevity let’s focus on rigs here.  After the deal closes what’s next from an equipment perspective?  You […]