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What is Enterprise Asset Management ? By Jakub Novak

  in Advice | Published 2019-10-17 06:24:47 | 1 Reads | Unrated

Summary

An Enterprise Asset Management system or often as EAM software, organizes and keep track of organizational physical assets. EAM system is a digital approach to the planning and control of all of the activities required to maintain business assets throughout each individual asset’s lifecycl

e. These activities include, but are not limited to, the scheduling of planned maintenance, optimization of asset productivity, documentation of information in relation to breakdown and malfunctions, stock control, inventory, purchasing information and many more features.

Full Content

Scope of EAM software

“Enterprise” refer to the scope of the assets across organization departments, locations, facilities and supporting business functions like procurement, HR, Inventory and etc.

Asset management is used in predominantly used in asset intensive industries that are using expensive and complex physical asset, such as mining, utilities, oil & gas, facilities, manufacturing, government, ports & terminals and other.

Features of EAM software

Enterprise asset management software handles every aspect of running an ass

et-intensive organization. EAM software programs include features such as :

preventive maintenance – schedule maintenance based on meter readings, dates, or even by setting up custom triggers.

predictive maintenance – automatically schedule maintenance based on detailed analysis of the condition of an asset.

inventory management – Keep track of parts, tools and other materials required to perform maintenance.

work-order management – track work orders and all related information including the repair schedule, costs, downtime and more.

warranty managementintegrated mobile wireless handheld optionsportal-based software interfaces among others.

EAM vs CMMS

EAM and CMMS are covered by the umbrella term “Maintenance Management Software”. Both system products have the same purpose of maintaining, managing and protecting your company assets by streamlining and automating maintenance management, inventory management, work order generation and scheduling. Both also help organisations to achieve a schedule of proactive asset maintenance rather than operating in “reactive mode”.

The main functions of CMMS include automating maintenance scheduling, managing company inventory and work orders plus maintaining an asset tracking database. While Enterprise Asset Management Systems are able to work with much larger sets of users from multiple areas. This software is also able to monitor all aspects of a maintenance strategy all the way from notification through to follow-up.

Along with the functionalities of a CMMS, a EAM solution will include an asset’s past maintenance records as well as financial records – This will enable better budget projections and predict replacement dates for each particular asset. An EAM will track all metrics needed to use reliability centered and predictive techniques enabling the determination of an asset’s future state and continued reliability. The EAM is able to provide a workflow analysis by tracking technician workflows from beginning to end. Overall an EAM is able to be expanded over long-term which includes all CMMS functions, while a CMMS system is focused on the maintenance systems and operations. You can read the full article on Mainpac blog here. 

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