Saturday, October 17, 2015

Asset Management in a Volatile Economy (part 2 of 2)

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Asset Management Strategy 4: Easy does it

Make changes gradual, if you are to introduce them. Don’t shock the system with revolutionary changes. In order for it to last longer, there needs to be at least a period of transition for any undertaking. The same thing goes with asset management.

Asset Management Strategy 5: Determine patterns and learn from them

If there have been instances that occur again, make sure that the current system is able to learn from its past mistakes. This self-learning quality is one of the ways in which you can ensure that the asset management system will be able to endure even the toughest economic shakings. It would be completely useless

Asset Management Strategy 6: Get the best tools available to you

If you are talented in managing assets but undermanned when it comes to resources, you may be in for a losing trend. The technology today enables you to manage everything from the desk and without much hassle. So make the best use of the technology while it is made available for you.

Asset Management Strategy 7: Review the facts regularly

Regular review is the lifeline of asset management. If your last inventory was a decade ago, then your assessment may not be at par with the demands in a company over time. Update the inventories, keep stock and review the statistics regularly. In that way, should hard times come, you will find that you have a ready answer because you know yourself fully well.

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