The world of physical asset management is quickly evolving. At a time where innovations and disruptions are swiftly following one another, it is important to have a strong internal policy foundation.
Good asset management pervades your entire company culture. When executed properly, asset management allows your organization to streamline its operations, optimize the use of your asset portfolio, increase the value your assets are delivering and operate them more safely - all in support of your organization’s strategic goals.
Constructing and implementing a strong physical asset management policy does not happen easily. KPMG’s international experts and knowledge-base can help you in setting up a dynamic asset management policy. We combine the latest methods with innovative insights and apply them throughout many different standard-setting companies in a wide range of sectors.
Your physical asset management policy
Connecting your physical asset management policies with your overall corporate strategy can be a difficult task. To gain maximum value from your assets, both asset management policy and corporate strategy need to be aligned. Having top management that firmly believes in proper asset management is an essential support in delivering your organization’s business goals. It makes for easier communication throughout the organization, for a more transparent view on objectives and for an enhanced collaboration across different departments.
Watch our expert Karen Beullens elaborate on good physical asset management policy:
Good physical asset management decision making
Making strong physical asset management decisions requires multidimensional insights. Whether it’s from a technical or a financial point of view, from a legal or IT perspective, from an operational or a managerial standpoint, a good decision is only possible when all sides of the story are properly considered. The principle of Total Cost of Ownership helps you make such decisions. Looking over the entire lifecycle of the asset, the TCO methodology computes the entire cost of owning, operating, maintaining and exploiting the asset from a myriad of viewpoints. Combining these insights in a decision model guides your asset portfolio towards optimal performance.
Watch our expert Frederik Gysels explain physical asset management decision making:
The role of physical asset management in your organization
People are the backbone of any organization – a cliché that is especially true for asset-intensive organizations. Operating, maintaining and streamlining complex assets requires a lot of expertise and specialized skill. Therefore, asset management should have a core position in your company culture. By centering your workforce and processes around your physical assets, you increase the efficiency of your asset portfolio. But even in organizations with fewer physical assets, asset management can play a vital role, such as in supporting a strong safety and security policy.
Watch our expert Ben Cappuyns talk about the role of PAM within your organization:
For more information about physical asset management, don’t hesitate to contact us!