In the realm of asset management, the term “sweating assets” isn’t one you hear every day. Yet, it embodies a
philosophy that could revolutionize how businesses across various industries handle their resources. This concept
came to the forefront during a recent “Meet the Buyer” event at the Electec Innovation Cluster, where the Sellafield Operational Group shared
insights into managing one of the most complex nuclear sites in the world.
The group’s responsibilities span across radiometrics, security, specialist equipment, and remote control equipment,
presenting a unique set of challenges in asset management. Their approach to maximizing the use and lifecycle of
each asset, despite facing obsolescence and the daunting task of sourcing spare parts creatively, was nothing short of inspiring.
The Art of Sweating Assets
At its core, “sweating assets” is about extracting the maximum value from each asset, ensuring that every piece of
equipment serves its purpose for as long as possible. This approach is critical at a nuclear site like Sellafield,
where the longevity and reliability of equipment are paramount.
The operational group’s strategy involves innovative problem-solving and resourcefulness, from leveraging
second-hand markets for spare parts to adapting and repurposing existing assets to meet new needs.
For industries outside the nuclear sector, this philosophy offers a valuable lesson in resource management.
Instead of the conventional method of over-purchasing to ensure availability, sweating assets encourages a more
strategic and thoughtful use of each resource. It challenges businesses to rethink their asset management strategies, focusing on efficiency, sustainability, and creativity in problem-solving.
System Loco: A Tool for Maximizing Asset Efficiency
This is where System Loco’s asset tracking solutions come into play.
By embracing the principle of sweating assets, companies can significantly benefit from implementing a robust
tracking system.
System Loco’s Track, equipped with advanced sensors/tags, provides real-time data on the location and status of
every asset. Coupled with the LocoAware platform, businesses can set up logic to alert them when assets are not where they should be, minimizing downtime and enhancing productivity.
Imagine a scenario where, instead of purchasing excess machines to compensate for inefficiencies in asset tracking, acompany could use System Loco’s solutions to have precise knowledge of each machine’s location and availability.
This not only reduces unnecessary expenditure but also fosters a culture of innovation and intelligent resource management.
Embracing Creativity in Problem Solving
The challenges faced by the Sellafield Operational Group are a testament to the power of creative problem-solving in
asset management. By adopting a mindset of sweating assets, companies can uncover innovative solutions that extend the lifecycle of their resources, reduce waste, and optimize operations.
System Loco’s asset tracking technologies offer a practical and effective way to embrace this philosophy. By providing detailed insights into asset utilization, maintenance needs, and location tracking, System Loco empowers businesses to make informed decisions that maximize the value of their assets.
As we look to the future, the concept of sweating assets, as demonstrated by the Sellafield Operational Group, should inspire industries to rethink how they manage and utilize their resources. With tools like System Loco’s asset tracking solutions, the path to more sustainable and efficient asset management is clearer than ever.
For more information on how System Loco can help your business maximize asset efficiency and embrace the art of sweating assets, please contact us. Let’s explore creative solutions to your asset management challenges together.
