An overview of the crucial components and key executive points of physical asset management

With the intensification of world changes and the need to maximize productivity in all resources of organizations, physical asset management has formed one of the main activities and strategies of industrial organizations and infrastructure services. Physical assets play a significant role in value creation in many industries, including buildings, transportation fleets, infrastructure networks, and manufacturing equipment. These organizations are called asset-based organizations. In these organizations, integrated and systematic management of these assets becomes an important activity of the organization. Hence, the management of physical assets has become a vital activity and requires special attention. This article will give an overview of success factors and critical points of physical asset management taken from authoritative articles in this field.

Keywords:

physical asset management , manufacturing equipment , productivity