21 Feb 2011 03:02:23
Beyond asset tracking by spreadsheets
Let's face it...
An ideal business world does not exist. There isn't an environment where everything goes to plan, productivity is sustained at peak levels, and asset performance is unquestionable.
In an ideal situation, we would like to maintain 100% efficiency for each and every asset on the books and realize the best value for money against our investment.
In reality, we purchase assets according to their potential, and often base our decisions on the track record of the manufacturing company, experience, testimonials, and warranties. We expect each asset to meet peak performance levels according to its specified purpose.
Asset ROI is a critical measurement, yet all too often we take a very poor approach to the science of gathering all the data needed to make our assessment.
In order for executives to make the right decisions, they need to be in possession of the most accurate and up-to-date data. Data gathering becomes a critical part of the mission statement because if the base information is inaccurate, the repercussions could be costly.
But spreadsheets had (and still have) inherent limitations. They can serve only certain purposes and do not allow us to truly manipulate the data contained within as we try to make informed business decisions. Now, let's look at the ways spreadsheets are limited in providing thorough data management.
If it isn't broke, why fix it? Well, there are a number of compelling reasons to go beyond management by spreadsheets.