Effective planning for major capital expenditure is essential in any business, especially in rail organisations where the cost of purchasing new machinery and vehicles can leave a sizeable dent in your budget.
In order to accurately forecast and plan, you need to have an idea of potential large future expenditures or investments to avoid unexpected cost blow-outs. This means keeping track of costs and the state of your assets from the cradle to the grave, so you know when replacements, overhauls or repairs are required and when the bills for those need to be paid.
Recording all this information in spreadsheets, books or a generic software is not sustainable long-term. Using a rail-specific asset management solution with a robust reporting function will help you oversee a large number of assets efficiently and in a scalable manner.
Extend the life of your investments. Keep your assets in a state of constant good repair to minimise costs, unplanned maintenance and service disruptions, with the added bonus of lengthening each asset’s lifespan and increasing the efficiency of maintenance works.Read More