Asset Registers are a sometimes overlooked tool in tyre repair operations but can add significant value by assisting with purchasing and maintenance decisions and simply keeping track of valuable assets in large and/ or complicated tyre repair and maintenance operations.
Demonstrating ROI in tyre repair operations
Once a register is in place, and carefully maintained, a valuable
data set develops, especially powerful when paired with operational data. Which practices support longer component lifespan? How much value exactly is attributed to each tyre repair station?
Valuable insight can be drawn from this data and used to support purchasing and maintenance decisions, evaluate ROI and optimise component product life spans.
A multi-faceted tool
An Asset Register is a useful tool, which enables:
- Tracking current condition of assets including age, condition, usage frequency, depreciated and residual financial value and indication of remaining lifetime, tax benefits, security, (preventing and detecting fraud), and insurance purposes.
- The compilation of a comprehensive scope of works for tendering of contractual services.
- The creation of a comprehensive preventative, predictive and proactive short and long-term component maintenance programs.
- Effective OPEX and CAPEX planning.
- The review and assessment of current performance efficiency of asset items.
- Assessment quality of existing maintenance service contracts, service scope and service frequency to achieve optimum value for paid maintenance fees,
- Accurate monitoring of compliance of service for certain items to avoid warranty cancellations and penalties from manufacturers.
- Provision of performance information or product issues to the manufacturer.
The right framework for your register will minimise the effort expended whilst maximising the value you get out of it.Â
Get in touch if you would like to learn more about how Monaflex can support the development of your asset registers or for general tyre management advice.