Introduction to AssetOps

Introducing AssetOps

Whitepaper by Trail Systems Ltd 2023

What is the power of combining the culture of sustainability with the practices and tools of smart asset management?

Executive summary

We are facing a time of uncertainty. The markets are adjusting to elements such as increasing inflation and supply chain problems globally.

It’s becoming more and more important to ensure that all operations are reasonable, profitable, and cost-efficient.

It’s time to take a very close look at the home base. What resources do we already have? How can we ensure smart purchases? How can we reduce unnecessary costs? How can we ensure that we are operating smartly?

It’s time to take control and strengthen the culture of smart sustainability.

Implementing AssetOps as part of the corporate culture indicates that you have identified the importance and value of the existing resources.

The outcome of implementing AssetOps is reduced environmental impact, organised and reliable data, sustainable asset operations, increased efficiency, and improved decisionmaking not to mention automated, digital workflows, cost savings, and control over operations.

Whitepaper by Trail Systems Ltd 2023

Introducing AssetOps

AssetOps

AssetOps combines the culture of sustainability with the practices and tools of smart asset management.

A few practical examples:

Physical assets are maintained, their lifecycle is extended, and the existing resources enable operations longer.

Reliable data exists and is constantly used for smart decisions - such as renewal investments.

Everyone is motivated to utilise the tools to keep the data up-to-date, and understands the operational importance of it.

Efficiency is maximised in operations, and no excess equipment is stored for no reason. The critical assets are in as efficient use as possible.

Tags bring efficiency to processes but also provide a visual signal that each assets is under control and valued.

Whitepaper by Trail Systems Ltd

Introducing AssetOps

Cultural change

simple, right? Sometimes it actually is as simple as that, but in many cases, especially when it comes to larger organisations, the organised look is one outcome of successful cultural change and smart resource allocation.

What does it signal when all physical assets are organised? The obvious signal is that the assets are of importance and they are valued.

That is where the cultural change starts. The appreciation of the owned and existing things is shown through organising everything, and after that managing it smartly.

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a) Continuous

improvement

Sustainability in company operations is dependent on continuous improvement. It is not enough to do things like they were done yesterday. Technology evolves, new solutions are available, times change, and competition is always fierce, so continuous improvement is essential. Also in asset operations, there is always room to do better and it’s important that the corporate culture embraces that - this is not a one-time change, but a continuous journey towards a more and more sustainable future.

b) Responsibility

In the same way, as this is not a one-time wave of change, there is also no individual whose responsibility this would be. To truly work, AssetOps requires the commitment and shared responsibility of everyone.

c) Daily impact

One of the most powerful elements of AssetOps is the daily impact. The people who work with assets get to do things smartly, they can rely on the data and the processes and are that much happier with the day-to-day work.

Whitepaper by Trail Systems Ltd

Lifecycle management

a)

Smart use of resources

Smart use of resources is the buzzword of the decade. We are all impacted by the scarcity of resources, global delivery problems, and growing inflation. All of these force us to take a close look at all the things that we already own and avoid ordering new ones.

b) Extended lifecycle

We have already as kids been taught to take good care of the physical things we get and own, to avoid breaking them so that the assets last longer. It’s not only about appreciation of what we own, but also smart cost control and an environmental choice to reduce knowingly buying new things.

In the world of corporations, it’s easy to forget these basic lessons learned, because it’s most often someone else’s money, someone else’s decision, and someone else’s responsibility. AssetOps is the way to change the collective thinking to the direction where the way of appreciating all physical equipment actually is a competitive edge of which everyone can collectively be proud.

Whitepaper by Trail Systems Ltd

c) Reduced purchases

Reduced purchases are the concrete cost-saving outcome of smart asset management. If the equipment is maintained and lasts longer, there is a reduced need for renewal purchases.

Also if it’s known what assets are actually used in the organisation, there is no longer a need to buy the ones that remain unused.

In the long run, the accumulated defect data can be utilised to see which equipment breaks more often and replace it with a better quality product.

With a thorough inventory, the findings often include

Whitepaper by Trail Systems Ltd

Sustainability

a) Reduced carbon footprint

The impact of AssetOps is not only financial and team satisfactory, there is also the aspect of sustainability to consider. When assets are appreciated and well maintained and used for a longer time, the positive environmental impact cannot be overlooked.

We are in desperate need of tools to use to manage the reduction of carbon footprint, and equipment and asset operations should be one of the first tools to take into use because it’s affordable and can be implemented immediately for positive impact.

b) Circular economy

One man’s trash is another man’s treasure is a very accurate saying when it comes to physical assets. There is an increasing demand in the market for solutions to recycle all assets smartly. There is plenty of room to improve in how the assets which are no longer used are recycled or reused. However, the prerequisite for any smart decisions about reuse is organised asset information.

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Introducing AssetOps

Daily Operations

a) Asset Register

The questions to ask are:

• Do we have an asset register?

• If we do, is it up-to-date?

• Who manages our asset register and how?

The key questions help to identify the pain points and ensure that the assets are under smart control, or if there is room for improvement.

by Trail Systems Ltd

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b) Asset Operations

Many times there might be a static register of physical assets, but the operations are overlooked. This means that there is no reasonable way to manage maintenance or future bookings of these assets, or for example, reusing the equipment for something else.

Tracking asset operations, however, is the only way to ensure that the data in the system is up-to-date and can be trusted. If no one reports defects, the estimated remaining lifetime is not an accurate piece of data. Tracking takes an asset register to the next level.

c) Data & Analytics

Possibly the most valuable outcome of implementing AssetOps is the systematic way to build data. After a while of gathering the data is available for everyone to be used for smarter decisions.

Whitepaper by Trail Systems Ltd

Contact us

The smartest preparation for an uncertain future is building control over the existing assets.

To improve the control and start building the AssetOps combination of tools and culture, we’re her to help.

Trail Systems Oy is a Finnish company helping customers globally to improve their operations around managing fixed assets. We provide Trail Equipment Management system as the smartest available tool for tracking asset operations, and we help to use the tool for the smartest possible workflows and processes.

Whitepaper

Whitepaper

by Trail Systems Ltd