Alternative strategies to manage non-current or fixed assets in different industries can include:
1. Asset Lifecycle Management: This involves managing the entire lifecycle of an asset from acquisition, use, maintenance, and finally disposal. This strategy helps in maximizing the value and usage of the asset.
2. Asset Optimization: This strategy involves optimizing the use of assets to achieve maximum efficiency. This can be done through regular maintenance and upgrades.
3. Asset Disposal: When an asset is no longer useful or cost-effective to maintain, it can be disposed of. This can be done through selling, recycling, or scrapping the asset.
4. Asset Leasing: In some cases, it might be more cost-effective to lease an asset rather than owning it. This strategy can help in reducing maintenance and depreciation costs.
5. Investment in Intangible Assets: Investing in intangible assets like patents, trademarks, and copyrights can provide long-term benefits and competitive advantage.
The choice of strategy depends on the nature of the industry and the specific needs of the business.
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