NIMASA: Asset Verification Project

Overview

Following the success of our financial operations project, NIMASA engaged Legend Concepts & Konsults to address challenges related to asset management and verification, seeking to improve efficiency and accuracy in tracking and utilizing organizational assets.

Project Period

September – December 2023

Project Description

This strategic project involved developing and implementing a comprehensive asset tracking and verification system for NIMASA. Our team conducted a detailed inventory of all physical assets, developed verification protocols, implemented tracking systems, and provided recommendations for optimal asset utilization and maintenance.

Challenge

NIMASA faced inefficient asset management practices, including incomplete records, difficulty tracking asset locations and status, inadequate maintenance scheduling, and suboptimal utilization of available resources.

Solution

Developed a comprehensive asset tracking system with unique identifiers
Implemented a rigorous verification process with regular audit protocols
Created a centralized asset database with maintenance histories
Provided strategic asset utilization recommendations
Established protocols for asset acquisition, deployment, and retirement

Results

25% improvement in asset efficiency
Identified potential cost savings of approximately ₦75 million annually
Enhanced asset management strategy with predictive maintenance
Improved resource allocation based on utilization patterns
Reduced asset downtime through proactive management

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