THE TYPES AND SIGNIFICANCE OF THE FIXED ASSET MAINTENANCE COSTS IN ENHANCING OPERATIONAL EFFICIENCY AND FINANCIAL PERFORMANCE
Keywords:
fixed assets, fixed assets maintenance, costs, useful life of fixed assets, efficiency, reduce costs and maximize profits.Abstract
Fixed asset maintenance is an essential aspect of asset management that involves performing regular inspections, cleaning, and repairs to ensure that assets are in good working condition. There are several types of maintenance, including preventive, corrective, predictive, condition-based, planned, and breakdown maintenance, each with its own benefits and drawbacks. Effective maintenance can help organizations to improve asset performance, reduce downtime, increase efficiency, ensure safety, comply with regulations, and maintain asset value. Ultimately, proper maintenance can help organizations to extend the useful life of their assets and maximize their return on investment.
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