Systems for managing physical assets, such as machinery, vehicles, buildings, and infrastructure, are used to keep track of and manage them. These systems primarily consist of hardware and software that are used to schedule, plan, and track maintenance and repairs as well as track and monitor the location, performance, and condition of assets. An asset management system’s objective is to maximise an organization’s assets’ performance and longevity while lowering risks, maintenance costs, and downtime.
An asset management system typically includes the following capabilities:
They can be used in many industries like transportation, manufacturing, construction, and energy.