Our VP of Business Development for SMS Assist, Sean Hartnett, was recently featured in Retail & Restaurant Facility Business magazine. His article, Transparent Data Strategy, dives into the importance of using FM data and transparency to drive results like improved customer experience and bottom line.
Any retailer knows that in-store temperature matters a great deal to customers due to its affect on their overall shopping experience. Imagine trying on new clothes while perspiring in your dressing room or browsing a store while shivering. Retailers are privy to the fact that most heating, ventilation, air conditioning (HVAC) equipment breaks down at the worst imaginable times. Situations like these are caused when the equipment’s performance is stretched to its limits during extreme heat or cold and your asset falls short.
For the average person, lighting is no big deal. Flip a switch. Change a burnt out bulb. That's about it. It's a completely different story for retailers, where lighting literally sets the stage, the mood, and even focuses customer attention on predetermined locations and products.
The long-term value proposition of asset management combines asset optimization, strategic decision making and a higher return on investment. In the narrowest sense, it monitors costs and supports peak asset performance. Broadly, it facilitates vital document storage and accessibility, maintenance and repair cost management, vendor management and regulatory compliance.
Indirect costs are often overlooked and are not applied back to direct ticket costs because they are less tangible than hourly rates and trip charges. This makes them harder to calculate for the total cost of ownership. However, without evaluating these indirect costs, you lose transparency to accurately calculate the financial impact on your business.
The hard-dollar bottom line of preventive maintenance is this: It has a demonstrable impact on the budget.
Preventive maintenance can prove its ROI if facilities managers know which metrics to analyze. These stats vary by facility, and they aren’t always cut-and-dried. For example, even soft benefits, such as customer perception and satisfaction, carry weight, according to FacilitiesNet.
Over the last few years, investing in Single-Family Rentals has been a great opportunity for many institutional investors, but at the same time, the nature of the SFRs and characteristics of its residents provide unique challenges, especially from the property maintenance perspective. Here are the top three facilities maintenance challenges for an SFR portfolio to consider this year:
Work order avoidance is the process of preventing costs associated with work orders by actively troubleshooting maintenance requests. When done correctly, work order avoidance eliminates expenses associated with work orders such as trip charges, service charges and more. This not only avoids waste for your business, but can also increase your resident satisfaction.
In this post you'll learn that in order to calculate the total cost of ownership of a facilities maintenance management program, you have to analyze and consider the overhead because that is where there is an opportunity for improvement.