Asset Management in Supply Chain Management
Track asset health, maintain physical assets, and enhance business performance with asset management in supply chain management.
What is Asset Management in Dynamics 365 Supply Chain Management?
Asset management is an essential add-on to manage, maintain, and track the physical assets of an organisation on a regular basis. Such assets include machines, forklifts, vehicles, and other complex equipment.
The asset management module of Dynamics 365 SCM not only manages assets but also tracks all maintenance and service activities. This module empowers businesses to streamline all machines and physical assets by maintaining them in the best possible condition. With proper tracking and maintenance of the machine, you can smooth daily operations and enhance overall efficiency while reducing operational costs.
Track and record all assets containing different parameters of health, which include purchase data, warranty data, service records, and scheduled maintenance.
Collect data through AI and IoT devices to maintain asset health and predict potential issues that can hamper asset performance.
Evaluate the assets to schedule preventive maintenance and servicing activities to avoid any kind of fault or breakdown, and track work orders.
Modify information related to any asset using a dedicated mobile application that you can access without any issue.
Eliminate Challenges with Dynamics 365 Supply Chain Management
Implementing the asset management module of Dynamics 365 Supply Chain Management can give you control over all asset inventory, vehicle maintenance, and schedule services. Also, it eliminates all possible risks that can hamper the smooth functioning of assets or production machines. It avoids any kind of disruption and ensures a consistent workflow throughout the production cycle.
Core Functionalities of Asset Management Module
Asset Management is an advanced module that offers numerous tools and capabilities to manage and maintain assets while streamlining maintenance jobs. It is capable of scheduling maintenance jobs, tracking work orders, collecting historical data, and optimising inventory levels. Some of its core functionalities are:
- Asset master data management
- Funcitonal location management
- Asset hierarchy management
- Work order management
- Maintenance scheduling
- Spare parts management
- Meter reading tracking
- Calibration Management
- Mobile App functionality
- Seamless integration
- Document Management
- Budget and Forecasting
- Compliance Management
- Mobile app Functionality
Benefits of Asset Management in Dynamics 365
The asset management module offers various practical benefits to all businesses. Some of the major benefits are:
Preventive Maintenance
Perform scheduled maintenance or service on machines to ensure proper functioning and eliminate any chances of unplanned downtime and equipment failure.
Improve Maintenance Planning
Perform proper maintenance planning, ensuring the right availability of resources, spare parts, and expertise to resolve any kind of complex issue.
Extended Asset Life
Proper servicing and replacing parts before they start to malfunction increases the overall life of assets and reduces the cost.
Data-driven Decision Making
Get real-time data insights to maximise asset performance while optimising the maintenance strategy.
Accurate Asset Records
Record all asset data and centralise it for a unified approach. Also, you can see the asset history and machine service record to simplify auditing processes.
Increased Asset Utilisation
Optimise the usage of assets to enhance performance and identify areas for improvement to enhance overall output.
Asset Management in Different Industries
The asset management module of Dynamics 365 Supply Chain Management allows you to make maintenance plans and track the usage of all assets, whether poorly or over utilised.
Microsoft is so flexible that it enables you to integrate an asset management module with any solution available in the Dynamics 365 Ecosystem. Leveraging this capability, you can integrate Dynamics 365 Finance with Dynamics 365 SCM to connect different departments and work in a collaborative way. Some of the major industries where asset management can be utilised are:
- Manufacturing
- Automotive
- Not-for-profit
- Retail and Distribution
- Healthcare
