Evaluation Of Physical Asset Management

The evolution of physical asset management can be categorized as follows:

• 1970s: Manual maintenance with paper-based systems laid the groundwork for modern asset management.
• 1980s: Early automation and preventive maintenance improved equipment reliability.
• 1990s: CMMS and maintenance software enabled root cause analysis and reliability-centered maintenance (RCM).
• 2000s: ERP systems, asset lifecycle management, and wireless technologies optimized maintenance processes.

• 2010s: Automated diagnostics, RFID, and smart mobile tools enhanced performance with data-driven maintenance.

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