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"My ERP System Doesn't Do What I Need" ---Introducing Asset Management 360

SMART FLASH
May 2011  

“My ERP System Doesn’t Do What I Need”

--Introducing Asset Management 360

One of the questions that we are frequently asked is:  What’s the difference between an ERP accounting system and an asset management system?  Fixed asset accounting records capture depreciation, support company financial reporting and are used primarily, if not exclusively, by accountants.  On the other hand, true asset management systems (TAMS) dynamically connect daily physical processes supporting engineering, R&D, office, manufacturing and field operations to each other as well as to back office ERP systems.  TAMS are designed to be “open” so that your users may track their own property as well as access mission critical resource information within a common tracking system.  This enables you to better redeploy under-utilized assets.  Experience has shown that over 90% of successful equipment utilization redeployments come from the active inventory – not the excess warehouse.

Without access to a dynamic asset tracking data base, end users have been known to create their own private islands of information via spreadsheets and desktop databases.  An additional complication is that overly high capital-expense dividing lines leave many assets, which otherwise require tracking, without system coverage.  For example, you may still need to track lower value company, government and customer property for calibration, maintenance, security, IT, contractual or regulatory reasons.  In the absence of a TAMS, the equipment information structure often disintegrates into a series of discordant “Silos of Babel” – each speaking a different language to various users.  This has led to the proliferation of MAMS, CAMS and ITAMS (Maintenance, Calibration and IT Asset Management Systems), et al.  Even though multi-megabuck ERP systems provide effective accountingintegration, sole reliance on them for true asset management effectively leads to asset information disintegration.

How AM360 Solves This Problem

Asset Management 360 – AM360 – consists of a tool superset that gives you 360 degrees of visibility over your assets and connects the entire enterprise into a common seamless system to enable you to more skillfully right-size company and customer investment, reduce risk of loss and provide more responsive support to dynamic projects.  These tools include:

  • SMART/PEMS Property/Equipment Management System is a proven powerful COTS asset tracking and reporting solution used by 4 of the top 5 defense contractors.  It supports company, government, customer, leased, special tooling, IT, laboratory, office, test and manufacturing equipment.  Sub-modules include UID, PCARSS and Property Move Order Tracking.

  • SMART/ENCATS Enterprise Cataloging System applies uniform standards to your equipment descriptions to provide a common asset tracking language across all users, including the ERP system, so as to better cross-utilize technology assets.  Application of ENCAT’s data standards typically uncovers 20% or more of your asset records that are hidden from view due to incorrect, incomplete or missing descriptive attributes.  An added bonus is the ability to search for equipment by performance specifications – a vital tool in day-to-day redeployment as well as acquisition screening.

  • SMART/AMIIX Mobile Tracking System is a fully integrated barcode solution that enables you to automate the collection of inventory and utilization data as well as perform field transactions such as asset receipts, shipments, moves, warehouse checkouts and returns.  AMIIX supports pre-loaded sets, blind scans, inventory by exception as well as the option to review/approve results during the upload process.

  • SMART/CMS Calibration Management System is a powerful calibration, maintenance, repair, PM and work scheduling system that integrates with AssetSmart’s SMART/PEMS asset tracking system to provide a common Calibration – Laboratory Asset Management System for the metrology department and its internal or external customers.

AM360 bolts on to most leading ERP systems to provide your central accounting records with current automatic accountability update transactions, rather than cumbersome and out-of-date wall-to-wall inventories every 2-5 years.  Using this approach, over 80% of your assets will have been automatically inventoried over a typical inventory cycle.  The remaining 20% are easily re-validated through inventory-by-exception techniques using SMART/AMIIX.

The bottom line is that AM360 takes your asset management processes to a new plateau to provide improved asset accountability and reduced risk of loss through more timely and efficient inventorying methods, eliminate hidden costs and inefficiencies of fragmented information silos, enable better visibility and control of assets supporting mission critical projects, and finally, most importantly, help you avoid wasting money on unnecessary capital expenditures for resources that you already own and can be redeployed through smarter management processes.

Press Release

About AssetSmart

Founded in 1971, AssetSmart (www.assetsmart.com) provides a comprehensive suite of integrated asset, test equipment, and material management solutions for aerospace, defense, electronics, communications, manufacturing, and government organizations. Assetsmart is offered by PMS Systems Corporation (CAGE Code 7M804, Veteran-owned Small Business) under GSA Schedule 70 Contract GS-35F-0298V. Assetsmart's headquarters located at 26707 Agoura Road, Suite 201 Calabasas, CA 91302, United States. For more information about assetsmart, please visit: www.assetsmart.com.

AssetSmart
(800) 755-3968