An Automated Assets Management System For Saj Foods Nigeria
This study was carried out on an automated assets management system for Saj foods Nig.The rapid growth in technology, has initiated a new era of asset management. From e-commerce and e-services, paperless environment, mobile technologies, applications development, and automation to become a regional center for the training of top-quality ICT professionals and researchers. In today’s world where every transaction and administrative procedures require the use of ICT, managing asset effectively is important for any organization.
It is a generally held opinion that where asset management by any organization is poor, delivery of maintenance and service delivery are normally affected. Hence, this study is aimed at implementing an asset management system to help check this deficiency of managing assets. This study is aimed at developing a web asset management application for recording assets and sending reports across.
The proposed system begins with a statement of problem which identifies the challenges observed from the existing system. Objective and Research questions for the study were stated to direct the emphasis of the work. Rapid application development (RAD) is a software development technique was used to design and develop this application.
Table Of Contents
- Table Of Content
- 1.1 Background Of Study
- 1.2 Problem Statement
- 1.3 Objective Of The Study
- 1.4 Significance Of The Study
- 1.5 Scope Of Study
- 1.6 Organization Of The Research
- 1.7 Definition Of Terms
2.0 Literature Review
- 2.1 Overview
- 2.2 Differentiating An Asset And Inventory
- 2.3 What Is An Asset
- 2.3.1 Fixed Assets
- 2.3.2 Current Assets
- 2.4 What Is Inventory
- 2.5 The Role Of An Asset Management System
- 2.6 Data And Information
- 2.7 Asset Management
- 2.8 Asset Control
- 2.9 Asset Management Techniques
- 2.9.1 ABC Analysis
- 2.10 Signs Of Poor Asset Management System
- 2.11 Database Of An Asset Management System
- 3.1 General Analysis Of Existing System
- 3.2 Method Of Data Collection
- 3.2.1 Oral Interview
- 3.2.2 Study Of Manual
- 3.2.3 Evaluation Of Forum
- 3.3 Problem Of The Current System
- 3.4 Justification For The New System
- 3.5 Requirement
- 3.6 System Development Methodology
- 3.7 System Requirement Planning
- 3.8 System Requirement Specification
- 3.9 System Input Requirement
- 3.10 System Output Requirement
- 3.10.1 System Analysis
- 3.10.2 Hardware Requirement
- 3.10.3 Software Requirement
- 3.10.4 Data Dictionary
- 3.10.5 Context Data Flow Diagram
- 3.10.6 Entity Relationship Diagram
4.0 Data Presentation and Analysis of Data
- 4.1 Results
- 4.2 Discussion
- 4.3 Software Execution
- 4.3.1 Starting The Application
- 4.4 Screen Shoots Explanation
- 4.4.1 Saj Room
- 4.4.2 Saj Logging Screen
- 4.4.3 Saj Report
- 4.4.4 Saj System Admin
- 4.4.5 Saj System Help
5.0 Summary, Conclusion and Recommendation
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendation
Asset management is defined as the systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems, their associated performance, risks and expenditures over their life cycles for the purpose of achieving its organizational strategic plan where an organizational strategic plan is defined as the overall long-term plan for the organization that is derived from, and embodies, its vision, mission, values, business policies, stakeholder requirements, objectives and the management of its risks.
Effective implementation of asset management requires a disciplined approach which enables an organization to maximize value and deliver its strategic objectives through managing its assets over their whole life cycles. This includes determination of appropriate assets to acquire or create in the first place, how best to operate and maintain them, and the adoption of optimal renewal, decommissioning and/or disposal options.
Asset management provides a set of principles that guide an agency in improving how it conducts business, how it reaches decisions, and how it processes, uses, and communicates information related to the management of its infrastructure. At its core, asset management focuses on an agency’s allocation and utilization of resources – funding, people and skills, and information. It provides an integrated framework that establishes common approaches across asset classes in planning, program development, and program delivery.
It encourages a number of best practices in these processes: e.g., consideration of the full range of alternatives at each stage of decision, adoption of a long-term view in economic analysis of projects, evaluation of tradeoffs across programs, monitoring of program delivery and system performance, and effective use of management and information systems throughout the infrastructure management cycle. Asset management is results oriented, driven by policy goals and objectives with clear measures of system performance and accountability (Marcow&Racosky, 2001).
To effectively manage asset, there are specialized software systems that keep proper record of relevant information pertaining the different assets owned by the company. Database applications are designed to capture relevant information pertaining the assets such as: type of asset, value of asset, maintenance cost, date of last maintenance, state of asset, etc and this information can be updated whenever any activity is performed with a given asset. This has made the concept of asset management systems a reality.
1.1 Background of the Study
With the ever increasing applications of computer programmers, organizations are now able to acquire systems to enable them manage their assets. An integrated asset management system is vital for organizations that are heavily dependent upon physical assets in the creation or delivery of their services or products. Large numbers of assets, or diversity characteristics of assets and asset systems, particularly in an environment of conflicting stakeholder expectations, further increase the importance of having a systematic approach to managing the asset portfolio. There are different levels at which asset units can be identified and managed – ranging from discrete equipment items or components to complex functional systems, networks, sites or diverse portfolios.
Many organizations identify assets as equipment units (sometimes referred to as “maintenance significant items” – the unit at which maintenance tasks or work orders are directed), whereas others use the term to describe functional systems or even integrated business units. It does not matter at what such level an asset unit is identified, provided that:
The organization’s goals and strategic priorities are directly reflected in the asset management plan(s);
The asset life cycle costs, risks and performance are considered and optimized. (This will usually require definition of clear asset boundaries for measuring performance, life cycle expenditures and attributing associated risks.);
The aggregations of assets (through integrated asset systems) and contributions of value (as part of the organization’s portfolio) are managed in a coordinated and consistent manner;
All parts of the organization understand and use the same terminology in relation to the assets, their components and their asset system groupings or aggregations.
1.2 Statement of the Problem
Many organizations are not properly able to review the appropriateness of their asset management strategy in the light of changes in the operating, regulatory and financial environment. They lack the necessary asset management policy, strategy and plan to ensure that they manage their assets in a sustainable way. More importantly, they do not know what (existing) assets they have, where they are, what condition they are in, what function they perform and their contribution to value. The absence of an asset management system is the reason why the management of most organizations are unable to properly account for their assets.
1.3 Aim and Objectives of the Study
The aim of the study is to develop an asset management system. The objectives of the study are:
- To create a database application that can be used to keep record of assets information.
- To design a system that can be used to update information pertaining to any asset that has been registered.
- To capture relevant information that will help in monitoring the condition of assets.
1.4 Significance of the Study
The significance of the study is that it will enable the management of Saj Foods Nigto properly manage information pertaining to their assets. It will enable them to present needed reports pertaining to assets which is a very vital aspect of accountability in every organization. The study will also serve as a useful reference material for other researchers seeking information on the subject.
1.5 Scope of the Study
This study covers design and implementation of assets management system and it is limited to physical assets in Saj Foods Nig.
1.6 Organization of the Research
This research work is organized into five chapters. Chapter one is concerned with the introduction of the research study and it presents the preliminaries, theoretical background, statement of the problem, aim and objectives of the study, significance of the study, scope of the study, organization of the research and definition of terms.
Chapter two focuses on the literature review, the contributions of other scholars on the subject matter is discussed.
Chapter three is concerned with the system analysis and design. It analyzes the present system to identify the problems and provides information on the advantages and disadvantages of the proposed system. The system design is also presented in this chapter.
Chapter four presents the system implementation and documentation. The choice of programming language, analysis of modules, choice of programming language and system requirements for implementation.
Chapter five focuses on the summary, conclusion and recommendations are provided in this chapter based on the study carried out.
1.7 Definition of Terms
Plant, machinery, property, buildings, vehicles and other items that have a distinct value to the organization
Systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems, their associated performance, risks and expenditures over their life cycles for the purpose of achieving its organizational strategic plan
Asset Management Information:
Meaningful data relating to assets and asset management
Asset management information system: system for the storage, processing and transmission of asset management information
Asset Management Plan:
Document specifying activities and resources, responsibilities and timescales for implementing the asset management strategy and delivering the asset management objectives
Asset Management Policy:
Principles and mandated requirements derived from, and consistent with, the organizational strategic plan, providing a framework for the development and implementation of the asset management strategy and the setting of the asset management objectives
Asset Management Strategy:
Long-term optimized approach to management of the assets, derived from, and consistent with, the organizational strategic plan and the asset management policy.
Summary, Conclusion, And Recommendations
The use of computer software-based Asset management system forms the basis of the Company’s decision. It aims at providing the management with adequate, effective, well documented up-to-date and formatted output. To help as a tool in planning and decision making based on the inventory of assets owned by the Company ant any of its branches across the country.
The lack of learner outcome variation of an asset system signals the establishment of concurrency between the two measures even though they are measures of the same construct. This investigation supports the use the online system delivery structure to broaden the instruction audience in technology e-commerce program.
Having come to the completion of this project work a lot of achievement was made and they include;
- The replacement of error-prone manual system with new automated online asset system.
- Data can now be processed with great speed and efficiency.
- The application can update the record in various files automatically there relieving the departmental staff the stress from working from file to file.
- The security of data is ensured.
- The use of database server was implemented.
- Less paperwork
Research and development are continuous processes; this is the same in computer and software development. However, the effectiveness and efficiency of this new system provide room for further improvement.
And lastly, the study concludes that the personnel of the company are the fundamental barometers of the level of efficiency provided by the system. To develop an ultimate asset inventory, a prior consultation among the employees would be advisable to cater the needs of who and which department will use the system.
The research work carried out is limited to intranet network only. It would be better if a full portal is developed for effective and wholesome of information management technology of the Company. More can be done to enable this application to reach a wider and broader area. Example of such improvement is
- Mobile-based technology of such an application
- Addition of an automated email report to supervisors of that branch
- Barcode scanners and electronic QR gadgets can be introduced to made data taking and retrieval easier.
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