EAM (Enterprise asset management) – management of fixed assets of an enterprise is at the same time a concept and software. Let’s take a look at what it is and why EAM is important to the success of each manufacturing company.
Already, business processes of companies are radically changing thanks to the use of technologies such as digital transformation, Internet things, big data analytics. New challenges are being set to reduce equipment maintenance costs, increase profits and optimize investments. It is EAM-systems that can become the main tool for achieving these goals and it is very important to find the right approach when choosing a specific product on the market in accordance with modern requirements and capabilities.
According to Kevin Permenter, senior analyst in the IDC enterprise application team, EAM is a combination of intelligent technology, process optimization and cultural change in a company’s ecosystem. Maximizing the benefits of EAM necessarily requires a holistic approach to implementation and use. EAM-system should provide interaction and exchange of information in the performance of all activities for the maintenance of equipment of the enterprise, regardless of whether they are performed by employees, contractors or partners.
ERP is a smart and flexible solution. Software, and with it the range of services for its implementation and support, must have the ability to grow and develop at the same pace as the company. It is adaptability that is one of those key characteristics that makes ERP systems so powerful and in demand when improving business processes and improving key performance indicators of an enterprise. ERP must combine scalability with an easy-to-use and have an integrated architecture that will easily manage and control resources and processes in the enterprise: from a request to repair a small fan to planning a major overhaul of a steel-smelting furnace.
EAM-systems solve the problem of optimizing the management of a very diverse set of fixed assets of the enterprise, ranging from buildings, oil rigs, pipelines, mining equipment, machine tools and ending with a fleet of aircraft, trains, cars and drones. Equipment can be both concentrated in one place and distributed over distances of thousands of kilometers, as always remain in one place, and often move, fly and swim. This diversity places separate demands on the ability of the EAM system to maximize the opportunities for remote monitoring of the state of complex, expensive and often aging equipment using a variety of sensors, mobile and wearable technologies.
The monitoring results allow the use of the latest service methodologies, reliability and risk assessments, and thereby optimize costs and investments. Predictive and prescriptive analytics provide an opportunity to learn a well-grounded answer, when and whether to restore or replace equipment at all, how much it will cost and how it will affect the reliability of the enterprise.
The SmartEAM solution combines all these characteristics and allows you to achieve a number of essential goals:
- Implement a more comprehensive, proactive and responsive equipment management strategy to improve the reliability of the company’s fixed assets.
- Increase equipment operation time and efficiency to reduce operating costs.
- Make business processes in the company more flexible, with the ability to quickly adapt with new requirements and opportunities.
- Reduce costs and increase productivity by up to 40%.
- Increase awareness and control over your assets to improve inventory management, increase safety, and achieve regulatory compliance.