2B — August 10 - 23, 2018 — New Jersey — M id A tlantic
Real Estate Journal
N ew J ersey
SEBCO The Finest In Metered Laundries Laundry Systems
By Daniel Schuster, HF Planners, LLC Asset management, how it can save time in the long run
sset management is simply the tracking of company owned prop-
plan will eliminate wasted time and energy dealing with the nuances of “winging it.” How to Manage The first thing needed is an inventory management system. A database should be created and maintained with unique tracking numbers for all of the assets that are going to be tracked. With furniture for instance, when breaking down and storing cubicles to be repurposed later are you being proactive and creating a data- base of the entire office, floor, building, etc.? You will want to document each panel’s size and configuration, the work surface size and finish, any storage pieces like file cabinets or overhead units. Last but not least, document the condition of the assets; especially if the plan is to repurpose and/or reuse the item at a later time. The more detailed the tracking system is, the more accurate the future plan will be. For smaller orga- nizations, a simple spreadsheet will work. As your organization grows, you will develop a need for a more tailored solution. In which case, you can call on a consulting resource to build a database for you or invest in an Enterprise/Material Resource Planning (ERP/MRP) solution. Tip: It may be tempting to use your asset’s serial number as a
tracking number. But, the se- rial number may be identical to an entirely different item, compromising data integrity and causing an inaccurate in- ventory. Instead, use a unique identifier for tracking purposes such as a string of numbers and letters that identify the assets attributes. Best Practices Best practices for asset man- agement begin when assets are selected and purchased. When purchasing IT equipment, fur- niture, machinery, etc., the truth is that a cheap initial purchase may lead to a high cost of ownership throughout the asset’s life. It is important to understand exactly what you get for the purchase price (manufacturer’s quality, war- ranty, service contract, etc.). It is also important to think about how long the asset will be needed vs. how long it is expected to last. This is a good first step in deciding whether used or new makes more sense for your needs. You and Your Assets At the end of the day, a prop- er asset management strategy is an integral way to make your organization more agile, efficient and prosperous. Daniel Schuster is an in- terior designer with HF Planners.
erty (assets). The goal is to know where these items are located, how they are u s e d , a n d when chang- es are made to them. The
http: www.SEBCOLaundry.com e-mail firstname.lastname@example.org
reasons for wanting to track assets are numerous but these are a few that stand out: 1. Increase Workplace Effi- ciency 2. Reduce Time Spent locating assets 3. Reduce Money Wasted re- placing misplaced or misused assets From AD HOC to Havoc Your department’s asset management process should align well within your organi- zation’s overall asset manage- ment strategy. Many teams take an AD HOC approach to asset management where they evaluate their needs only in time of need with limited infor- mation. This type of approach can cause havoc especially for larger organizations. An AD HOC approach wastes valu- able time and can require an abundance of resources at the drop of a dime. Investing in a
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