A Practical Approach to Sustainable Asset Management for the Borough of State College
Open Access
Author:
Schaeffer, Jordan Lawrence
Area of Honors:
Supply Chain and Information Systems
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
Felisa Del Carmen Preciado, Thesis Supervisor Dr. John C. Spychalski, Thesis Honors Advisor
Keywords:
inventory management asset management inventory asset Borough of State College municipal warehouse sustainability
Abstract:
Proper asset management is critical to any organization’s success. Inventory represents the stock required to fulfill all business needs, but it carries a large cost. Poor inventory tracking can lead to unnecessary costs, unnecessary use of space, and poor life cycle management. The Borough of State College’s municipal repair shop warehouse was experiencing serious downfalls due to a lack of asset management. Many parts in inventory had become obsolete: some parts had been in inventory so long that they could no longer be used, and some parts exclusively serviced vehicles that had been discontinued by the Borough. This case demonstrates the need for an inventory management system, how to implement a basic and effective such system, and the possible benefits that this system can provide. This case will prove that utilizing effective asset management can limit unnecessary costs and improve sustainability.
