What are the benefits of using enterprise asset management software?

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?

Enterprise Asset Management 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