How Do Physical Assets Relate to Strategic Planning?
Physical assets are integral to a company’s strategic planning. Leaders must align asset management with the company's long-term goals. This involves:
1. Forecasting: Predicting future needs and ensuring the availability of assets to meet those needs. 2. Budgeting: Allocating financial resources for asset acquisition, maintenance, and improvement. 3. Growth and Expansion: Planning for the procurement of additional assets to support business growth and market expansion.