Assets come in many sizes and types. Assets are a common feature of every company. Your company’s assets can either give you a competitive advantage or drain your resources. ISO 55001 is a great asset management tool. Because it requires a large number of physical assets and a high fixed price, ISO 55001 is only applicable to capital-intensive industries. Distribution, utilities, and heavy manufacturing are all possible.
It is designed to organize and steer an Asset Management System, (AMS), to manage risk and minimize it. ISO 55001 Australia is designed for the management and control of physical assets. However, it can also be used to manage other types of assets.
It doesn’t matter what assets need to be managed. To ensure efficient and cost-effective asset maintenance throughout their lifespan, the emphasis is placed on proactive asset management with associated goals and activities.
Stakeholder confidence increases when an asset management system and complex processes within the business are implemented. There are many benefits to obtaining certification.
As part of procurement standards, supply certification is often requested. This credential opens up many opportunities.
Provide products and services that consistently meet consumer expectations.
Interactions Between Stakeholders Have Improved
Enhance the company’s image among its customers, employees, and suppliers.
Respect For Legal Obligations
Understanding the implications of regulatory and legislative requirements for your company and consumers
Effective Business Qualifications Have Been Proven To Work
It is important to verify the authenticity of the industry standard against which you are comparing it.
Lower Operating Costs
Continuous process improvement and operational efficiency are two ways to save money.
Enhanced Risk Management
It is easier to spot and fix faults when products and services are consistent and easily traceable.
Additional Benefits Of ISO 55001 Certification
Effective Risk Management
Good governance and an in-depth understanding and control of assets (e.g., stocks and bonds) can increase stakeholder trust. Customers and regulators acting in their best interest will reduce insurance rates.
AMS Seamless Integration Into Integrated Management Systems
Effective asset and risk management are essential for current HSE, Security, Information Security, Quality, Environment, and Business Continuity Programs. The total value of the Risk Management Model would be significantly increased if it was integrated with an integrated management system.
Standardize And Simplify
Asset management is used by large corporations to standardize their equipment and plants. This also reduces the cost of spare parts. Other options include training and assistance. The best asset management systems maximize value and capitalize on growth opportunities.
Security Of Personal And Business Information
Asset management reduces risk and lowers the chance of injuries and catastrophic events. Asset management and preventive risk management can reduce the likelihood of unfortunate events.
Image And Reputation
Reputation and image are as important as the organization’s operations. The success of an organization’s assets is also dependent on its performance. Retail and hospitality are often the entry point to an enterprise’s activities. Improved design results in increased visitors.
- Asset management systems that are more clear and efficient, based upon appropriate processes and key performance indicators.
- Individual assets are more productive and efficient.
- The use of accurate data to optimize the planning process is particularly beneficial in digitalization.
- Opportunities are recognized and utilized.
- Making key decisions is easier when your equipment and plants are well-planned and managed.
- Competencies can also be created in-house.
- Lowering operational costs and efficiency.
- Compliance with all legal and statutory requirements
- You take into consideration the needs of your stakeholders, which enhances your image.