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
EAM Software vs CMMS: What’s the Difference and Which is Right for You?
Choosing the right tools is essential for enhancing operational efficiency and prolonging the lifespan of your assets. Enterprise Asset Management (EAM) software and Computerized Maintenance Management Systems (CMMS) are widely used in asset-intensive industries....
The Importance of Supportability in Modern Asset Management
What Is Supportability? Supportability refers to an asset's ability to be maintained and supported throughout its entire life cycle. This includes access to spare parts, trained personnel, maintenance processes, and technical documentation. Strong supportability...
The Ultimate Guide to Choosing the Right EAM Software for Your Company
Enterprise Asset Management (EAM) software enables companies to manage the lifecycle of their physical assets. This includes planning, maintaining, and analyzing equipment to support better decisions and extend asset life. Selecting the right EAM software can enhance...