PeopleSoft Enterprise Asset Management 9.1 PeopleBook

Managing Asset Maintenance, Repair, Warranties, and Insurance

This chapter provides an overview of managing asset maintenance, repair, warranties, and insurance, and describes how to:

Enter maintenance details.
Enter asset inspection information.
Enter asset service and repair statistics.
Track asset maintenance contracts.
Enter warranty information.
Enter insurance coverage information.
Set up asset contract or warranty expiration notifications.
Generate asset warranty reports.
Review asset maintenance history.

Understanding Asset Maintenance, Repair, Warranties, and Insurance

All assets usually require some level of maintenance service or repair. Many are also acquired with accompanying insurance or warranties. PeopleSoft Asset Management provides features enabling you to manage and track these asset attributes.

Asset Checkout

PeopleSoft Asset Management provides the asset check out functionality in order to prepare, configure and maintain assets for use. This enables you to manage assets as they are moved around the enterprise for use in multiple settings. As well, the usage can be monitored and intervening maintenance or service events can be tracked while the asset is out of use.

Asset Maintenance, Service, and Inspection Management

At various intervals, all assets require some degree of maintenance, such as routine mechanics for company vehicles or repainting an office or building. Scheduling and tracking this type of maintenance provides a more complete picture of the true costs and revenues associated with these assets.

PeopleSoft Asset Management provides features to track the details of individual maintenance events by date and time, the person responsible for the maintenance, the vendor who issued the maintenance contract or warranty, and the cost.

Whenever an asset requires maintenance, you can track exactly when the maintenance takes place, how long it will take, and how it will affect cost and performance. Annual tune-ups may require that some automobiles are unavailable at certain times. Damages to machinery can result in large expenses due to unavailable equipment, as well as replacement and repair costs.

PeopleSoft Asset Management additionally provides the tools to view the maintenance history by type of maintenance performed or by the date that the maintenance was performed. Using inquiry pages, you can determine if any asset, or group of assets, requires a particular type of maintenance too often. For example, a vehicle that requires several quarts of oil more often than every 1,000 miles may have more severe underlying problems. Similarly, a piece of equipment that requires repeated repair or replacement of a particular part may be defective and should be replaced.

When you own assets that require expensive maintenance, you may acquire maintenance contracts with providers covering service and repair. While maintenance contracts do not necessarily have a one-to-one relationship with assets that require maintenance, you may still want to keep track of those contracts, the assets that they cover, the extent of coverage provided, and so forth. PeopleSoft Asset Management provides the tools to track such contracts and to determine repair and servicing costs, the time period covered in the contract, and the exact coverage specified by the contract.

Keeping detailed records of maintenance events helps manage the physical aspects of your assets. You can compare detailed repair estimates to actual costs and evaluate whether a warranty or maintenance contract on the asset can lower the costs that you may incur. Or a review of an asset maintenance history can help you make decisions about addressing underlying costs that are driving up the cost of production. Some assets additionally require routine inspections related to licensing or other validations or certifications. PeopleSoft Asset Management provides inspection and license tracking.

Asset Repair Data Management

In addition to tracking physical information about asset maintenance, it is useful to track detailed financial information. PeopleSoft Asset Management enables you to track:

How long an asset will be unavailable for use.
Hours required to service or repair the asset.
Costs for labor and materials.
Any other expenses that you may incur, such as rental of necessary replacement equipment.

This type of detail enables you to assess asset maintenance and repair costs. For instance, as equipment grows older, it may cost more to repair and service, especially if the parts are obsolete or out of stock. Tracking asset service and repair statistics helps you to see the financial picture more clearly and may be instrumental in helping you to decide when to retire or replace an asset.

Asset Warranty Management

Warranties can often lower the cost of repair and maintenance of your assets. Keep track of any warranties that you might have, which assets they cover, the period of coverage, the cost of the warranty, and so forth. Manufacturers often warrant an asset, or part of an asset, using specific terms and indicating specific conditions. Such information is easily accessible to all employees in your organization who might be responsible for the physical aspects of asset management.

Asset Insurance Management

PeopleSoft Asset Management enables you to enter asset-specific insurance coverage information, including key insured information, such as insured amount and insurer details. This provides immediate online access to asset insurance information associated with a specific asset ID, rather than maintaining this information in a separate database.

Checking Out Assets

This section discusses how to enter maintenance events and details.

Page Used to Check Out Assets

Page Name	Definition Name	Navigation	Usage
Asset Checkout	ASSET_CHECKOUT	Asset Management, Service and Maintenance, Asset Checkout	Check out an asset that can be scheduled from available assets.

Checking Assets Out for Maintenance Events

Access the Asset Checkout page (Asset Management, Service and Maintenance, Asset Checkout).

WO Business Unit

Select the business unit from which to select the work order for this asset.

Work Order

Select the work order to associate with this asset checkout.

Task No.

Select the task number associated with this checkout event.

Checkout By

Select the person who checked out the asset.

Contact Info

Enter any contact information regarding the checkout of this asset.

Location

Select the location by business unit for the asset.

Shop

Select the shop if applicable where the asset will be maintained.

Deployed BU

Select the business unit to which the asset is deployed.

Deployed Asset ID

Select the asset ID used when the asset is deployed.

Start Date

Enter the start date for the asset deployment.

Start Time

Enter the start time of the asset deployment

End Date

Enter the ending date of the asset deployment.

End Time

Enter the ending time of the asset deployment.

Checked In

Check this box when the deployed asset has been checked in.

Usage Amount

Enter the usage amount of the asset. For example, if the asset usage is tracked by a meter, a reading value can be entered.

Unit of Measure

Select the usage amount unit of measure type, such as miles, gallons, etc.

Entering Asset Inspection Information

Use the Asset Inspection (ASSET_INSPECTION) component to enter information about required or other inspection for a given asset.

This section discusses how to enter asset inspections.

Page Used to Enter Asset Inspection Information

Page Name	Definition Name	Navigation	Usage
Asset Inspection	ASSET_INSPECTION	Asset Management, Service and Maintenance, Asset Inspection	Enter details pertaining to inspections performed for the asset. The inspection agency should be defined first.

Entering Asset Maintenance Service and Repairs

Use the Track Service and Repairs (ASSET_MAINT_01) component to enter asset service and repair statistics. This section lists the pages used and discusses how to:

Enter asset maintenance event information.
Enter statistical information for repairs.
Enter payment information.

Pages Used to Enter Asset Service and Repair

Page Name	Definition Name	Navigation	Usage
Asset Service/Repair - Event	ASSET_MAINT_01	Asset Management, Service and Maintenance, Track Service and Repairs, Event	Provide the date and time of maintenance events and identify the type of maintenance, party responsible for the maintenance, and status of the maintenance.
Maintenance Details	ASSET_MAINT_01_S	Click the Maintenance Description link on the Asset Service/Repair Details - Event page.	Identify the type of maintenance, party responsible for the maintenance, and status of the maintenance.
Statistics	ASSET_MAINT_02	Asset Management, Service and Maintenance, Service and Maintenance, Track Service and Repairs, Statistics	Enter detailed financial information pertaining to asset maintenance.
Related Meter Readings	ASSET_MAINT_05	Click the Related Meter Readings link from the Statistics page.	Enter meter reading information relative to a maintenance event for this asset. This page enables you to enter and view related meter readings which may have influenced the maintenance event being tracked. See Entering Meter Readings.
Meter Reading Details	AM_MTR_RD_HID3	Click the Detail link from the Related Meter Readings page.	Use the details link to view asset meter reading details. See Reviewing Meter Reading History.
Payment	ASSET_MAINT_03	Asset Management, Service and Maintenance, Service and Maintenance, Track Service and Repairs, Payment	Enter information about a parts or services vendor. You can add any number of payment records.
Asset Service/Repair Details - Comments	ASSET_MAINT_04	Asset Management, Service and Maintenance, Service and Maintenance, Track Service and Repairs, Comments	Enter problems encountered or recommendations for repair and service. You can maintain separate comments for each service/repair event or you can keep a running commentary covering all events.

Describing Maintenance Events

Access the Track Service and Repairs Event page (Asset Management, Service and Maintenance, Track Service and Repairs, Event).

Date/Time

Displays the date and time that each maintenance event was entered into PeopleSoft Asset Management.

Type

Enter a valid maintenance type. This field is required to save the event.

Note. You can complete the rest of the fields on this page at any time.

Status

Select the status of the maintenance event:

Complete:Maintenance and repairs are done and ready for inspection.

Complete-Pickup:Asset is ready for return to service.

In Process:Asset is undergoing maintenance or repairs.

Inspected:Maintenance and repairs have been approved.

Scheduled:Maintenance event has been planned and scheduled.

Scheduled-Pickup:Asset has been scheduled for pickup.

Problem ID

If applicable, enter an ID for this maintenance event.

WO Unit

Select the work order business unit from which to select the work order for this asset maintenance event.

Work Order ID

Select the work order ID to associate with this asset.

Task Number

Select the task number associated with this maintenance event.

Repair Code

Enter a repair code, if used. This field may be populated automatically when you have installed PeopleSoft Maintenance Management.

See Setting Up and Generating Preventive Maintenance Work Orders.

Responsibility

Enter the name of the person responsible for this asset, if used. This field may be populated automatically when you have installed Maintenance Management.

See Setting Up and Generating Preventive Maintenance Work Orders.

This Asset is Offsite

Check this box to indicate the asset is located off site.

Pickup Date and Pickup Contact

Enter the date the asset is scheduled for pickup and the contact name.

Ready Date Time

Enter the date and time the repaired asset is scheduled to be ready.

Entering Statistical Information for Repairs

Access the Track Service and Repairs - Statistics page (Asset Management, Service and Maintenance, Service and Maintenance, Track Service and Repairs, Statistics).

Typically, you enter estimates of the hours and monetary costs first. Then, as information becomes available or when the service is completed, you can go back and enter actual data in the following fields:

Down Hours and Estimated	Enter the length of time that the asset is unavailable for service.
Labor Hours and Estimated	Enter the length of time for repair and maintenance labor.
Labor Cost and Estimated	Enter the monetary expense for repair or maintenance labor.
Material Cost and Estimated	Enter the monetary expense for items used in repair or maintenance materials.
Tools Cost and Estimated	Enter the monetary expense for items used in repair or maintenance tools.
Purchase Cost and Estimated	Enter the purchase cost for items used in repair or maintenance.
Other Cost and Estimated	Enter miscellaneous costs, such as subcontracting, replacement equipment, or rental equipment.

PeopleSoft Asset Management keeps a running total of both the actual Total Cost and Estimated total cost. Use this worksheet to compare your estimates with actual figures for determining if:

The time and cost of maintaining the asset is within the expected margins.
You must revise your estimates.
You must find a more economical way to maintain your assets.

To view meter reading details for this asset, click on the Related Meter Readings link.

To view downtime details for this asset, click on the Downtime Detail link. Downtime detail is supported by PeopleSoft Maintenance Management.

Entering Payment Information

Access the Track Service and Repairs - Payment page (Asset Management, Service and Maintenance, Service and Maintenance, Track Service and Repairs, Payment).

Enter information about asset parts or services, including vendor, purchase orders, and voucher IDs. You can also associate the payment with a contract ID. You can add any number of payment records.

Tracking Asset Maintenance Contracts

This section discusses how to:

Add or modify maintenance contracts.
Add maintenance contract terms.

Understanding Asset Maintenance Contracts

Use the Maintenance Contract Terms (MAINT_CONTRACT_01) component to track such contracts and to determine repair and servicing costs, the time period covered in the contract, and the exact coverage specified by the contract.

To track maintenance contracts:

Add or modify maintenance contracts on the Maintenance Contracts - Detail page.
Enter the terms of each maintenance contract and the coverage that it provides.

Note. You cannot set up maintenance contracts without first setting up a Vendor table. You need not set up all vendor tables, but you must at least set up a list of vendors.

Pages Used to Track Asset Maintenance Contracts

Page Name	Definition Name	Navigation	Usage
Maintenance Contracts - Detail	MAINT_CONTRACT_01	Asset Management, Service and Maintenance, Maintenance Contract Terms	Add or modify maintenance contracts.
Maintenance Contracts - Coverage	MAINT_CONTRACT_02	Asset Management, Service and Maintenance, Maintenance Contract Terms, Coverage	Enter the terms of each maintenance contract and the coverage that it provides.

Adding or Modifying Maintenance Contracts

Access the Maintenance Contracts - Detail page (Asset Management, Service and Maintenance, Maintenance Contract Terms).

You can add multiple records for any contract. By creating separate records with different dates in the Effective Date field, you can maintain a history of when the contract was first issued and any subsequent renewals. To identify the contract currently in use, make its Status Active.

The information in this page helps you to track maintenance contracts. You can enter when the contract was issued, when it expires, what you had to pay for it, and the vendor honoring the contract. You can also identify the person who is responsible for ensuring that the assets covered by this contract are maintained and repaired as required.

Adding Maintenance Contract Terms

Access the Maintenance Contract - Coverage page (Asset Management, Service and Maintenance, Maintenance Contract Terms, Coverage).

In the Coverage field, enter any information about the coverage provided under each maintenance contract, the cost of such coverage, or any other contract-related information.

Entering Warranty Information

Enter warranty information on the Asset Warranty (ASSET_WARRANTY) page.

This section lists prerequisites and discusses how to:

Enter asset warranty information.
Apply warranties from templates.

Prerequisites

Before entering asset warranty information, you can:

Define standard warranty templates.
Define asset warranty templates.

When these tables have been defined, the templates and defaults are available for assignment to asset warranties.

Pages Used to Enter Warranty Information

Page Name	Definition Name	Navigation	Usage
Asset Warranty	ASSET_WARRANTY	Asset Management, Service and Maintenance, Asset Warranties	Enter warranty information.
Search for Asset Warranty Templates	AM_WTMPL_SRH	Click the Apply Warranties from Template link on the Asset Warranties page.	Search to find a defined Standard Warranty Template to apply to the asset.

Entering Warranty Information

Access the Asset Warranty page (Asset Management, Service and Maintenance, Asset Warranties).

Most of the information on this page helps you manage the repair of assets covered by manufacturer warranties.

Sequence	The sequence value is determined by the order or sequence of warranty terms entered for this warranty. This system is enabled to support multiple warranties per asset.
Effective Date and Status	Enter the effective date and status of the warranty. Use these fields to establish a history of when each warranty is first issued and any subsequent information that is relevant. You can add multiple warranty records for an asset. If the warranty is currently valid, select Active in the its Status field.
Vendor ID	Select a vendor by ID from the list of those available for this business unit. Identifies the manufacturer. Only valid IDs set up in the Vendor Table are accepted.
Contact ID	Select a warranty contact by ID from the list of those available for this vendor.
Warranty Number	Enter the warranty number or ID.
Warranty Name	Select a warranty name from the list of those available for this SetID.
Warranty End Date	Enter the date the warranty expires.
Coverage	Specify the terms and conditions of each warranty in this memo field.

Applying Warranties from Template

Access the Search for Asset Warranty Templates page (Click the Apply Warranties from Template link on the Asset Warranties page).

Use this search page to find a defined standard warranty template and apply the warranty terms to this asset.

Enter search criteria to restrict template selections based on:

Asset Type
Asset Subtype
Vendor ID
Model
Item ID

The valid warranty templates matching the search criteria appear, and you may select one to associated with this asset. Standard warranties are defined on the Standard Warranty Template.

See Setting Up Asset Warranties.

Entering Asset Insurance Information

This section lists prerequisites and discusses how to:

Set up asset insurance vendors and types.
Set up asset insurance.

Use the Asset Insurance (ASSET_INSURANCE) component to set up asset insurance.

The Asset Insurance page captures all of the information necessary to track the insurance coverage for an asset. The Asset Insurance by Company query is provided to enable viewing of the insurance by business unit and vendor ID.

Note. (JPN) This feature satisfies the Japanese requirement to link an insurance policy ID to an asset ID.

Prerequisites

The asset insurance pages use data stored in the Vendor table and the Insurance Type table. Before you set up asset insurance, you must first define these tables and establish an asset ID.

To use the Asset Insurance page, you must first:

Establish insurance types.
Set up asset insurance vendors.

Page Used to Set Up Asset Insurance Information

Page Name	Definition Name	Navigation	Usage
Asset Insurance	ASSET_INSURANCE	Asset Management, Service and Maintenance, Asset Insurance	Track insurance information by asset ID.

Setting Up Asset Insurance

Access the Asset Insurance page (Asset Management, Service and Maintenance, Asset Insurance).

Unit

Displays the business unit selected from the search criteria.

Asset ID

Displays the asset ID selected from the search criteria and with which this insurance information is associated.

Tag

Displays the asset tag number selected from the search criteria.

Policy ID

Displays the insurance policy ID if insurance information has previously been established or displays the ID entered when adding a new value.

Insurance Co (insurance company)

Displays the name of the insurance company for this coverage. The company must already be defined in the vendor file.

Insurance Type

Display or change the insurance type to correspond with this policy coverage. The available insurance types are defined during the setup process.

Insurance Information

Effective Date	Indicates when the insurance coverage takes effect. If you want a history of changes, add new rows to the table and use effective dating to update insurance coverage, rather than making changes to the initial row.
Status	Refers to the status of the Effective Date row.
Descr (description)	Enter a description of the asset.
Long Descr (long description)	Enter a description of the asset.
Issue Date	Enter the insurance coverage issue date.
Expiration Dt (expiration date)	Enter the insurance coverage expiration date.
Valuation Type	Designate the insurance valuation calculation type used for this coverage. No processing takes effect as a result of this entry, but this entry identifies the appropriate calculating method in effect. The available insurance valuation types are: Curr Market Value at Mkt Rate (current market value at market rate): Value at market rate. User Entered: Enter a definition. Value as New and Insure: Value as new and insure if repurchased.
Insurance Indicator	Designate the type of asset and risk associated with the asset:On Loan or High Value. Use this indicator to identify assets with any special insurance characteristics for reporting purposes.
Insured Value	Enter the amount of the insured asset value.
Policy Currency	Select the policy currency type. The value of this field is defaulted from the base currency of the business unit default book.
Current Value	Enter the current value of the asset.
Appraised Value	Enter the appraised value of the asset.
Min Insured Val (minimum insured value)	Enter the minimum amount of insurance for the asset.
Last Indexation Dt (last indexation date)	Enter the last date on which an indexation for the asset took place.
Premium Amount	Enter the amount of the premium in full or periodically.
Premium Frequency	Enter the type of premium schedule such as annual, quarter, month and so on.
Total Cost	Displays the total cost, which is derived from the COST table and reported in the base currency of the default book.
User Defined Amount	Corresponds to User Entered value.
Replacement Cost	Displays the replacement cost, which is derived from the replacement cost calculated for the asset and stored on the Basic Asset page.
Date of last update	Displays the date of the last update to the replacement cost.
Comments	Enter any comments. This is a free-text field.

Generating the Asset Warranties Report

You can generate an asset warranty report to review asset warranty information. This section lists the page used to generate this report.

Page Used to Generate the Asset Warranty Report

Page Name	Definition Name	Navigation	Usage
Warranties	RUN_AMAS1600	Asset Management, Service and Maintenance, Reports, Warranties, Warranties	Specify run control parameters to generate an asset warranty report. The warranties reports lists Asset ID, Description, Warranty, Vendor ID, End Date, Coverage.

Reviewing Asset Maintenance History

This section lists the pages used to review asset maintenance history.

Page Used to View Asset Maintenance History Summaries

Page Name	Definition Name	Navigation	Usage
Asset Service/Repair History - Maint History by Type (asset service/repair history - maintenance history by type)	ASSET_MAINT_SUM_01	Asset Management, Service and Maintenance, Review Maintenance History, Maintenance History by Type	View a summary of asset maintenance by maintenance type. From the Work Order tab, you can link directly to the work order and review maintenance, cost and work order details.

WO Business Unit	Select the business unit from which to select the work order for this asset.
Work Order	Select the work order to associate with this asset checkout.
Task No.	Select the task number associated with this checkout event.
Checkout By	Select the person who checked out the asset.
Contact Info	Enter any contact information regarding the checkout of this asset.
Location	Select the location by business unit for the asset.
Shop	Select the shop if applicable where the asset will be maintained.
Deployed BU	Select the business unit to which the asset is deployed.
Deployed Asset ID	Select the asset ID used when the asset is deployed.
Start Date	Enter the start date for the asset deployment.
Start Time	Enter the start time of the asset deployment
End Date	Enter the ending date of the asset deployment.
End Time	Enter the ending time of the asset deployment.
Checked In	Check this box when the deployed asset has been checked in.
Usage Amount	Enter the usage amount of the asset. For example, if the asset usage is tracked by a meter, a reading value can be entered.
Unit of Measure	Select the usage amount unit of measure type, such as miles, gallons, etc.

Date/Time	Displays the date and time that each maintenance event was entered into PeopleSoft Asset Management.
Type	Enter a valid maintenance type. This field is required to save the event. Note. You can complete the rest of the fields on this page at any time.
Status	Select the status of the maintenance event: Complete:Maintenance and repairs are done and ready for inspection. Complete-Pickup:Asset is ready for return to service. In Process:Asset is undergoing maintenance or repairs. Inspected:Maintenance and repairs have been approved. Scheduled:Maintenance event has been planned and scheduled. Scheduled-Pickup:Asset has been scheduled for pickup.
Problem ID	If applicable, enter an ID for this maintenance event.
WO Unit	Select the work order business unit from which to select the work order for this asset maintenance event.
Work Order ID	Select the work order ID to associate with this asset.
Task Number	Select the task number associated with this maintenance event.
Repair Code	Enter a repair code, if used. This field may be populated automatically when you have installed PeopleSoft Maintenance Management. See Setting Up and Generating Preventive Maintenance Work Orders.
Responsibility	Enter the name of the person responsible for this asset, if used. This field may be populated automatically when you have installed Maintenance Management. See Setting Up and Generating Preventive Maintenance Work Orders.
This Asset is Offsite	Check this box to indicate the asset is located off site.
Pickup Date and Pickup Contact	Enter the date the asset is scheduled for pickup and the contact name.
Ready Date Time	Enter the date and time the repaired asset is scheduled to be ready.

Unit	Displays the business unit selected from the search criteria.
Asset ID	Displays the asset ID selected from the search criteria and with which this insurance information is associated.
Tag	Displays the asset tag number selected from the search criteria.
Policy ID	Displays the insurance policy ID if insurance information has previously been established or displays the ID entered when adding a new value.
Insurance Co (insurance company)	Displays the name of the insurance company for this coverage. The company must already be defined in the vendor file.
Insurance Type	Display or change the insurance type to correspond with this policy coverage. The available insurance types are defined during the setup process.