Enterprise assessment management, or EAM, is crucial for businesses that want to get the most out of their physical assets throughout their asset lifespan. That includes, perhaps, all organizations. Enterprise assessment management software enables businesses to monitor, manage, and report on the status of all key assets, allowing them to be proactive in problem-solving and prevent incurring unnecessary operating expenditures such as by providing bus driver medical assessment.
Through asset tracking, an enterprise assessment management system assists the maintenance team in managing physical firm assets over the asset’s life. They may be used by the whole business to maximise asset performance during asset lifecycles, enhance return on investment, maintain workplaces safe, reduce the cost of ownership with lower lifespan expenses, and improve efficiency.
According to Nicole Foust, a principal analyst at Gartner, asset-intensive businesses such as oil and gas, utilities, transportation, and manufacturing require EAM software to support their industrial infrastructure, facilities, and equipment. According to Foust, EAM software is notably effective for aiding maintenance in three areas. Stationary plant assets include electricity generation, manufacturing, and oil refineries; linear assets include power lines, and mobile and fleet assets include service equipment, rail cars, locomotives, trucks, transformers, and pumping stations.
According to Foust, an EAM system contains features for organising, planning, and scheduling work, producing work orders, recording maintenance history, purchasing and tracking replacement parts and equipment, and tracking equipment assemblies and components.
Asset professionals use EAM software to manage and get a complete picture of a wide range of physical assets, but the following are some of the most common: manufacturing assets like industrial ovens and conveyor systems; fleet assets like cars and trucks; facilities assets like elevators and security systems or CCTV camera system; and construction assets like cranes and specific types of tools.
Asset maintenance planning and scheduling is a critical element of enterprise asset management software for ensuring asset health and improving asset performance management. We define EAM as managing an organization’s physical assets that are required for it. An EAM system also records the time of the workers and guarantees that they are compensated.” To put it another way, financial management is a crucial part of corporate asset management. According to Foust, several EAM systems on the market include a basic financial management suite of capabilities. Such as accounts payable and cost tracking in ledgers, as well as human resources activities, such as a maintenance skills database.
EAM systems provide several advantages to enterprises. Here are five examples.
Modern predictive maintenance, which often relies on IoT sensors and real-time data processing, assists businesses in staying ahead of equipment breakdowns. Switzerland’s national railway company, is implementing SAP’s EAM to improve train maintenance. And allow employees to access all the information in real-time.
One significant advantage of EAM software is the promise of more efficient maintenance scheduling and planning. Because EAM systems give more visibility into asset usage and how frequently they fail, firms.
Without a grasp of EAM software, determining overall equipment effectiveness (OEE) is impossible. With a good asset management system, one crucial component of this is gaining a thorough awareness of vendors and their equipment. EAM systems, which are computerised maintenance management systems, allow businesses to store> And track information about their asset vendors, including the capacity to track payments. Giving them a better idea of how much money they’re spending externally, according to Beauvais.
Process automation is a significant advantage that EAM systems provide. And it involves making information more accessible as well as delivering automatic notifications and system notifications. According to Ed Spotts, ERP manager at Panorama, EAM enables businesses to automate their internal operations.
That one notification alert is set up for machine abnormalities. Such as if the oil temperature in a certain piece of equipment is too high. Or whether a machine is working too quickly or too slowly. These notifications enable him to make the required fixes before the issue worsens.
“You can push [that information] into the EAM and have it send you an alert saying, ‘Hey, somebody has to look at this,'” Carnes explained. “At that point, a work order is generate to have the relevant employee – either an electrician, a maintenance person. Or a millwright – go out and examine that piece of equipment. And verify that either the piece of equipment or the responder delivering the response is experiencing that issue.”
For example, suppose a food firm has a problem with one of its equipment. And it is introducing pollutants into its goods, he explained. Because an EAM system is a computerised maintenance management system. It enables asset management in an organisation to assist prevent these problems, he explained.