Asset Lifecycle Management

Asset Lifecycle Management (ALM) is the process of overseeing a company's assets—from their initial acquisition to their disposal. This includes planning, tracking, maintaining, and optimizing assets to maximize their value and minimize costs. ALM ensures that assets are used effectively throughout their lifespan, enhancing performance and reducing risks. It involves regular evaluations and updates to adapt to changing business needs. By managing assets efficiently, organizations can improve productivity, extend asset life, and ensure compliance with regulations, ultimately leading to better financial outcomes.