What is enterprise asset management?
Enterprise asset management (EAM) is the process of managing the maintenance and lifecycle of physical assets to plan and optimize their use, track maintenance activities, schedule replacement and even manage disposal. The process is essential to improving operational efficiency, minimizing risk, and reducing costs of equipment ownership.
EAM can technically be handled on paper, but most organizations with fleets of equipment and machinery, utilize specialized EAM software for efficient and effective EAM operations.
What does enterprise asset management software do?
EAM software executes a variety of business functions:
Lifecycle Management:
- Design
- Purchase
- Construction
- Maintenance
- De-commission
Supply Chain Management
- Inventory management
- Forecasting demand
- Materials budget
- Purchasing & procurement
Pure EAM
- Reliability centered maintenance analysis
- Asset management
- Support compliance with industry standards
- Supportability optimization
- Information and reporting management
Monitoring
- IoT integrations
- Real-time virtual status
- Inventory tracking
- QR codes/ RFID Sensors
Maintenance Planning & Scheduling
- Preventative maintenance scheduling
- Predictive maintenance scheduling
- Human resource management
- Task & work order cycles & tracking
Newest on the Blog
Reliability Engineering: Designing Systems for Maximum Uptime
Keeping systems running without unexpected interruptions is essential for businesses that rely on physical assets. Whether it’s in aviation, defense, manufacturing, or transportation, downtime leads to lost productivity, increased costs, and lower customer...
Using Engineering Data to Inform Strategic Maintenance Decisions
Thoughtful maintenance planning is key to boosting performance and cutting costs in competitive industries. Engineering data plays a central role in this process, providing clear insights into how equipment runs and where improvements can be made. Let's discuss how...
Supportability Engineering: Reducing Life-Cycle Costs Through Strategic Planning
Supportability engineering plays a critical role in efficient systems management from inception to retirement. Supportability engineering employs the procedures and methodologies of supportability analysis to accomplish the planning, development, systems engineering,...