Using a Sudden Lack of Business to Catch Up on Fixed Asset Maintenance

Many businesses have seen a huge dip in patronage, to the point where many have had to close, some of them for good. The economy has been impacted so severely, many experts are calling it the worst recession since The Great Depression 90 years ago.

Those businesses that have stayed open have reduced their workers down to a skeleton crew. However, depending on the business, even these workers have been at a loss for what to do during their work shift. Some of them are looking for anything to occupy their time while at work, since business as usual has halted.

Because fewer people have work, fewer people are out making purchases. For many businesses, this means their inventory isn’t moving quickly. Those who haven’t closed doors temporarily are trying to figure out the best ways to keep their business functioning.

Now is the perfect time to catch up on fixed asset maintenance. That way, when things open up again, you can rest assured that everything will be in top shape and ready for use.

Optimizing fixed asset maintenance when business is slow

Before you get started on your fixed asset maintenance, you’ll want to perform an audit. That way, you can see what assets may not have been maintained or may have fallen through the cracks. Of course, you’ll want to send assets in for maintenance that tend to be used more often.

However, you’ll still need to do this in shifts, since you won’t be able to schedule all of your popular assets at the same time.

While you’re waiting for other assets to come back from the shop, you can look at equipment and other assets you use to run your store. What do they need? What tasks have been neglected to prioritize serving customers? Now is the time to work on those tasks.

Take the time to perform maintenance on your assets so that you can be prepared for when things pick up again.

Fixed asset maintenance checklist

If you’re not sure what needs to be checked over and maintained, we’ve come up with a maintenance checklist to help you get started.

You’ll need the following information to know what type of maintenance you need to perform:

• Asset type
• Make
• Model or Serial Number
• Number of these types of assets
• Who has access to them
• How they’re used
• Frequency of usage

Once you have all of that information, then you can determine what needs to be done next. Most of the time, a check-up is in order. Then you can see if any repairs need to be made, or if each asset only needs a simple tune-up.

Create a schedule for getting your assets checked up and fixed. Create a schedule that cycles through your assets, so you’re not doing everything all at once.

The current circumstances are somewhat of an exception. If you have the ability to do everything at once, then now is a great time for it. But that’s not a sustainable method of operating, and shouldn’t be planned.

Asset Panda's fixed asset management software

Asset Panda can help you perform maintenance now and schedule it for the future. Once you get caught up with all of the tasks you need to do currently, you can schedule out tasks months ahead of time. The asset maintenance system is also set up to send you notifications when the time comes for different asset tasks.

Interested in trying out Asset Panda? Book a free demo with one of our product experts and try us out free for 14 days (no card required).