How Does Asset Management Aid the Utility Sector?

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Field officers can connect and access data remotely using the asset management mobile application. It gives real-time information visibility, which is critical for field officers since they can act proactively for maintenance if they do not have real-time information.

FREMONT, CA: The utility industry is huge and important, not only for individuals but also for businesses. All services are basic needs for firms, as the utility sector encompasses electricity, gas, and water services. Asset management is one of the major sources of concern for those who operate in the utility industry. Particularly for those who have expensive assets in large quantities, such as power plants, gas pipelines, water purification units, and other important equipment. They must keep an eye on their utilities frequently to ensure the safety of their staff and clients.

Undoubtedly, this is an enormous and challenging task.  Without real-time data, field employees must track each asset individually, which can take a long time and result in overlooked concerns, causing disruption. This is where asset management software comes in handy for utility asset management.

Some ways in which utility asset management benefits organization include:

Field Staff Access Information in Real-Time

One of the most significant benefits is that technicians may access and save data in real-time. Managers and other team members can also speed up the process this way. Not only that, but they can also know things like:

• Condition of the asset
• Asset location
• How frequency asset is being used
• Maintenance records and history

Field officers can connect and access data remotely using the asset management mobile application. It gives real-time information visibility, which is critical for field officers since they can act proactively for maintenance if they do not have real-time information. If they do not have real-time information, they must work reactively.

Asset Are Tagged for More Productivity

GPS (Global Positioning System) chips, BLE (Bluetooth low energy), or IoT tags are used to identify assets. Other asset tracking technologies are also available; however, the technologies mentioned are more effective for real-time asset tracking. They are handy for the utility industry, as these tags can forecast when assets need to be monitored and serviced. When any of these technologies is implemented, the likelihood of equipment failure is lowered, as are overall maintenance costs. Thanks to asset tracking tags and software. They are proactive in their approach, and tags maintain track of the data. The information can be used for analytics and to generate benefits.

Management must guarantee that merchandise is always available in the stock for successful maintenance execution. It has often been observed that the maintenance staff does not have inventory on hand when performing maintenance, indicating that this is not an effective technique. As a result, this software manages inventory. When inventory falls below a predetermined level, the system warns and notifies the appropriate person, and the stock replenishment procedure begins.

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