
An asset management system is comprised of all of the necessary processes, procedures, tools, systems, and methods necessary to meet business objectives in a manner which is controlled, measured, and improved upon. The system, more often than not, takes on some visual representation as in the graphic below. The purpose is to provide a simplified understanding of the overall process to meet asset management goals.
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Let’s face it, we as engineers, maintenance staff, etc. all love technology and the newest gadget. Our industry is never short of these new and shiny techniques, tools, sensors, etc. Now, this new tech can lead to significant improvements in 





Determining which parts of stock can be a very overwhelming process. As such, many choose to blindly accept the OEM or Manufacturer’s recommendations. And why shouldn’t they? The OEM has many years of experience in building these types of assets and supplying spares, right?
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