Asset Verification

Oil and gas facilities often undergo upgrades and expansions, but these changes are not always reflected in the asset data. This creates a significant gap between the data in the CMMS or ERP and the actual assets, which can lead to issues such as overstocking and unavailability of crucial spares. These issues can increase operational costs and risks.

Hofincons has experienced specialists who can develop As-built records through field physical verification. The data will be verified in the field and updated in the CMMS system to accurately reflect the As-built status. Our team also performs redline markups (RLMUs) of the as-built drawings to ensure accurate and up-to-date information.

 

Why Asset Verification?

Reduce maintennce costs: Asset verification clearly identifies asset for which work orders get generated but they no longer exist on the shop floor. Identifying such assets will substantially bring down maintenance costs.

Optimise inventory: Asset verification is the first step towards inventory optimisation. Asset verification will lead to identification of surplus stock, obsolote stock, wrongly catalogged stock etc. and will open avenues for inventory optimisation.

Improve procurement: Asset verification also unlocks valuable insights about procurement and inventory consumption and improves procurement strategy.

 

Outcomes

  • Save money you spend on maintaining assets that no longer exist on the shop-floor.
  • Capture details of newly added/modified assets so that you maintain them periodically and maximise their lifecycle efficiency.
  • Optimise your inventory holding and inventory carrying costs.

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