Knowledge Management is necessary for every asset….
Knowledge management is the foremost requirment if one is thinking of having asset management in one's company. This is a very important lesson, as managing assets without first managing your knowledge will really make your asset management ineffective. Now for example, if we consider security and think about improving the security of the company, even then we need to manage knowledge efficiently. This is because any new policy that the company makes in respect to security, would require the company to make a written document of it, and here the knowledge management would come into play. An effective knowledge manaement company in this case would not find it difficult to distribute this new security rules and regulations around the organization, through its effective knowledge management mechanism, which would make sure that everyone in the company is now aware of these regulations they need to follow and that everyone is on the same wavelength. Similar example could be given through managing inventory by product scheduling. Any good mechanism requires forecasting of sales and this means that the production, purchasing and marketing department working together. I becomes imperative in this scenario of free flow of information between these departments. Thus, only a knowledge management company may work well in this scenario.
Similar examples could be given for health&safety or maintenance, etc. The point to consider here is that it is extremely essential for any organization to first manage its knowledge resources and then plan for managing its assets, as on the core of asset management is knowledge management, and I have realized that how much easy and efficient it would be for any organization to have a knowledge-based asset management.