Application of Proper Asset Management Methodology and Technology in Defence Sector of Sri Lanka

Asset Management is seen as a simple business operation by most of the entities, however modern era demands for complex methodologies to cater the arising optimization of Asset Management. More and more organizations around the globe are realizing the importance of proper Asset Management methodologies and use of technology. The Sri Lankan defence entities which are one of the largest components of government of Sri Lanka with an annual budget around 200 billion Sri Lankan Rupees, and owning hundreds of assets at their disposal use very traditional methods to manage the assets and their operations and maintenance. Most of the methodologies date back to the Second World War era where the British colonial forces introduced most of the operational procedures and methodologies. It is time to rethink and modernize the Asset Management methodology of the Defence entities in Sri Lanka. The modern world has seen Information Technology being used in most of the business areas. The Enterprise systems are typically the largest, most complex, and most challenging information systems implemented by firms, representing a significant departure from the individual and departmental information systems prevalent in the past by integrating the key functions and assisting better and timely decision making. The use of IT and Enterprise systems for defence entities in Sri Lanka is evaluated. With the use of new methodologies Asset Management of defence sector of Sri Lanka can be optimized while supply chain and the operational processes getting more efficient and effective.