What is Enterprise Asset Management?
Enterprise Asset Management (EAM) focuses on managing and controlling corporate assets and equipment using software, systems, and services. The goal of EAM is to maximize the use and maintenance of a company's assets concerning their quality and utilization throughout their lifecycle – achieving maximum productivity with minimal operating costs.
In principle, any equipment for maintaining production and services falls under assets.
There are various types of assets, such as:
- Machinery
- Buildings
- Vehicles
- IT systems
- Production facilities
Enterprise Asset Management is generally supported by a CMMS. CMMS stands for Computerized Maintenance Management System. It is software for centrally controlling maintenance information and processes. It informs the maintenance staff about where an asset is located and what maintenance needs to be carried out, by whom, and when. A CMMS automates critical asset management processes, making them transparent.
The specific goals of EAM are:
- Centralize all data: Collect and manage all information about assets using a CMMS
- Act proactively: Preventive maintenance actions for reliable operation without failures and disruptions
- Intelligent monitoring: Remote monitoring provides data on asset conditions
- Increase utilization: Collect and analyze historical and current real-time data to increase the availability of physical assets
- Extend lifecycles: Use maintenance strategies and risk management to extend asset lifespans
- Optimize maintenance management: Improve asset maintenance practices through operational data and experience
- Integrate systems: Manage all assets with a single central system, if possible
