Strategic asset management: alternatives for capital acquisitions

A well-designed asset-management plan can reduce capital costs by prioritizing equipment and technology purchase requests and optimizing use of existing resources. Instead of purchasing new equipment, underused equipment can be moved to where it is needed. Completely overhauling equipment that is showing signs of wear may be more cost-effective than simply repairing individual components as they fail. Leasing equipment can help improve an organization's cash flow and balance sheet, while avoiding potential future concerns about obsolescence.