All 3 entries tagged Assets

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May 02, 2012

Why is time not considered an Asset

This week we have been reading and talking about asset management. Buildings, people, knowledge, finances....etc. etc. we talked about them all.

But is time not an asset too, one that is depleting every second. All other form off assets could be replaced in one form or the other; not time. Time management should also be considerd under asset management. It is the most difficult to manage.

April 25, 2012

Assests management

5S and TPM are two good tools that we (at my company) we have been using for the last about 10 years to keep our machines and equipements maintained.

But what I would like to share here with you is the tremendous job the maintenance team has been doing at our plant in the city of Hoshiarpur. The plant was established way back in 1973. The plant machinary has been maintained so well that it continues to run even today. As a matter of fact the production levels are comparable with the latest modern high tech machines and so is the quality being generated (crucial worn out parts are changed as and when required).

The plant has been running for nearly 40 years, the machines have over run their depriciation period and are virtually free. It is not that the team is spending heavy money on spares and maintenance, but they have been following a very strict maintenance schedule. In addition to this the team has the habit of preventing a problem from repeating.

What I am trying to drive here is that if taken care of the assets of a plant can last for a very long time, but then there has to be dedication and sincerity.

Assets – People the biggest assets a company can have

Should people be treated as assets? A big question !

But the reality out in the world is that if you want to survive you have to have some sustainable strategic advantage. Some advantage that can not be bought or easily copied.

Any technology or system that you can buy can be bought by your competitor, but the people and culture that you have can not be copied or bought - that is why we have only one Toyota or one G.E. I am not saying that there are not other top companies, but what i am trying to say is what they have can not be replicated.

Today it is very crucial that you align your human resources along with your business strategies. Human resource is the sustainable strategic edge that you can hav over others.

Companies today are looking towards Human resource as a means to get sustained competitive advantage as this is an area which cannot be easily imitated by competitors (Brain Becker, 1996) .

Achieving competitive advantage through human resources requires that these activities be managed from a strategic perspective (Cynthia A. Lengnick-Hall, 1988)

Human resource management can help a firm obtain competitive advantage by lowering costs, by increasing sources of product and service differentiation, or by both (Cynthia A. Lengnick-Hall, 1988)

The people are very valuabel assets of a company. How they are retained is another question.

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