Defense asset management software helps in tracking critical assets of various platforms. The software will ensure asset availability for missions through round the clock tracking and real time information. The software must be able to handle huge amounts of data. Naval asset management software greatly increase fleet monitoring and ensure fleet readiness. The data eases ship support activities and includes ship manuals, schematics and part number along with configurations. The asset management software can be incorporated across land and air platforms to ensure compete synergy. Air platforms can be precisely tracked for mission readiness, available payload option, aircraft configuration and integrity of the aircraft. This is vital to successful mission completion and crew survivability. Aircraft and naval systems are a major asset that is expensive to buy, expensive to operate and takes a long time to replace. Asset management can give consistent evidence based approach to manage these critical assets and ensure maximum asset utilization. Reports generated by asset management can be useful for identifying assets which are at the end of their life cycle and plan their replacement at the right time.
Defense asset management software greatly improves the efficiency of the forces by ensuring operation readiness. Scalable software ensures future asset addition and tracking. RFID (Radio Frequency Identification) will allow tracking of all armory items and equipment. This increases accountability and prevents loss of inventory. RFID also allows easy auditing, whereas a disconnected spreadsheet-based auditing could take days to perform. The biggest challenge is the reliability of the electronic tags. All the RFID tags must work perfectly to ensure smooth deployment from the base to the battlefield.
ISO 55002 provides a basis for any asset intensive organization. ISO 55000 defines assets as any “item, thing or entity that has potential or actual value to an organization”. Assets include material assets such as machinery, equipment, furniture and vehicles, as well as intangible assets like patents, licenses and intellectual property. It is important to compare the current asset management system with ISO 55000 and ensure compliance.
Some of the leading Defense Asset Management Software provides functionalities with such integrated financials for cost control and advanced analytics for mission readiness. These asset management software provides loads of data that can be used for analytics to derive meaningful results for complex queries.
One of the challenges to implementation of asset management program is change management. All the stakeholders have to be educated about the procedures and the importance of the program for operational effectiveness. The market will be driven by the need for optimizing efficiency of defense forces and implementation of best practices. The other market driver will be development in the field of IoT (Internet of things) and embedded systems.