Manufacturing
Asset Governance in Manufacturing
Manufacturing businesses operate with significant capital tied up in production machinery, tooling, vehicles, and IT infrastructure. Asset governance directly impacts production continuity, maintenance scheduling, insurance accuracy, and financial reporting. Mismanaged assets lead to unexpected breakdowns, inaccurate depreciation records, and missed opportunities to recover value from surplus or decommissioned equipment.
Example Assets
| Asset | Approx. Value | Ownership | Location | Insurance Consideration |
|---|---|---|---|---|
| CNC Machines & Production Equipment | £20,000–£2,000,000 | Production / Engineering Manager | Factory floor – fixed installation | Under plant & machinery policies – valuations often outdated |
| Forklifts & Internal Logistics Equipment | £10,000–£60,000 | Warehouse Manager | Warehouse and loading areas | Covered but fleet often changes without policy update |
| Tooling & Dies | £2,000–£100,000 | Engineering Department | Tool stores, sometimes at supplier premises | Often overlooked – significant value off-site |
| Inspection & Test Equipment | £1,000–£50,000 | QA Manager | Quality control areas or calibration labs | Specialist calibration assets frequently unregistered |
| IT & Control Systems (PLCs, SCADA) | £5,000–£200,000 | IT / Engineering | Factory floor and server rooms | Cyber and equipment insurance – often split and incomplete |
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