Maintenance of Industrial Assets

Maintenace of Industrial Assets

1
Executive Summary
The common types of assets include a wide range of resources owned and controlled by
corporations. These include current assists, non-current assets, physical assets as well as
intangible assets. Maintenance of physical assets is one of the most crucial tasks on the part
of the management team who are responsible to upkeep the required and necessary facility or
asset. In this report, an evaluation of the industrial assets has been conducted so as to
determine the positioning of the company and its effectiveness in functioning. Innovative
Electronic Corporation is a USA based company that have significantly managed and
maintained its assets. There are 10 crucial assets that are significant for the functioning of the
company. The company has taken up diverse strategies to maintain its industrial assets.

2
Introduction
Assets represent ownership that can be eventually turned into cash and cash equivalents
(Davies et al, 2017). Classifying industrial assets based on their physical existence involves
tangible and non-tangible assets (Liwski and Gebel, 2018). Tangible assets often comprise a
significant portion of the total assets of an enterprise, and consequently secures a significant
position on the Balance sheet of an organization (Basnan et al, 2017). Maintenance of these
assets involves a great deal of task on the part of the maintenance department and this is one
of the reasons that each unit of the assets must be categorized as well as evaluated based on
the classification.
This report represents an evaluation of the maintenance process of industrial assets by
Innovative Electronic Corporation. It is a small electronic processing company established in
USA dealing in the production process of electric with latest technology. The process
involves processing of the electric to delivery of finished goods to the end-users. This report
aims to analyse the maintenance system of the company in managing and controlling its
assets.
Process Flow at Innovative Electronic Corporation
Ensuring that the assets of an organization is well-maintained is one of the most significant
tasks on the part of the management of the firm (Lessmann et al, 2015). Moreover, almost
50% of the firms all over the world, have established maintenance department in the
organization which is solely responsible for the preservation, repair, as well as maintenance
of the machineries, equipment as well as system that is used for the functioning of the assets.
The most significant assets that are generally found in an organization are gearbox, factory
machines, electro motors and many others. These assets form a vital part of the process flow
for an organization.
Figure 1: Process Flow Diagram

Customer’s Packaging
Incoming Document
Inspection
CAD/CAM
Shear Laminate
Drilling
Through Hole Plating
Image Transfer
Touch Up
Pattern Plating
Resist Stripping
Etching
Shear Laminate
Image Transfer
Etching
Resist Stripping
Black Oxide
Cut Preparer
Inner layer Booking
Pressing
Packing and
Shipment
FQC/FQA
Open/Short Testing
V-Cut
Routing
Legend Printing
Hot Air Leveling
Gold Finger Plating
Solder Mask Printing
Tin/ Lead Stripping
3
The above figure 1 represents the process flow of the Innovative Electronic Corporation from
production to distribution level. The company has very well carried out is processing with
regard to the energy flow. There are a number of assets which has been determined from the
above process flow these are discussed as follows:
Table 1: Industrial Assets at Innovative Electronic Corporation