Analysis of Fixed Asset Management Based on Life Cycle Asset Theory and Its Relevance to Company Financial Performance
DOI:
https://doi.org/10.59261/jbt.v7i3.722Keywords:
Asset Life Cycle, Asset Management, Asset Turnover, ESG, Financial PerformanceAbstract
Background: This research is motivated by the large proportion of fixed assets in the company's asset structure as well as the challenges of efficiency after the COVID-19 pandemic and company mergers.
Objective: This study aims to analyze the role of fixed asset management based on the theory of asset life cycle in supporting the company's financial performance at PT X, a port service company in the Tanjung Perak area of Surabaya.
Methods: The approach used is a qualitative method with an explanatory case study design. Data were obtained through interviews, observations, and documentation, analyzed using data reduction, presentation, and conclusion drawing with source triangulation.
Results: The results indicate that asset life cycle-based management is associated with improved financial performance, reflected in ROA rising from 0.50 to 0.72 and Asset Turnover from 2.12 to 3.10 over 2021–2025, based on triangulated interview, observation, and documentation data. The acquire and commission phases were implemented well, while the operate and dispose phases still show weaknesses, including the absence of a preventive maintenance system. Asset electrification cut operational costs by about 60% and supported ESG goals, though it did not consistently affect cash flow, shaped instead by other operational and funding policies.
Conclusion: This study concludes that optimizing asset management based on asset life cycle can improve operational efficiency and profitability, extending Asset Life Cycle Management theory to a port service context. Companies are advised to develop digital-based integrated asset management, implement preventive and predictive maintenance, and strengthen management across all life cycle phases.
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