Enterprise asset management is the lifecycle management of an organization’s physical assets (objects, installations, systems, buildings, etc.) across departments and facilities, with the goal of improving quality and efficiency.
Every business owner wants to maximize uptime, cut costs, reduce risks and accidents and deliver the highest quality products or services. To achieve these objectives, enterprise assets — from production machinery and real estate to entreprise equipment — need to be used and managed as efficiently as possible. Enter enterprise asset management (EAM): a holistic approach focused on managing all information, structured and unstructured, related to physical assets throughout their entire lifecycles, helping companies deal with the irregularities of an ever-changing world.
EAM helps businesses to:
New and emerging trends, including the IoT (Internet of Things), mobile, predictive and cognitive maintenance, artificial intelligence (AI) and KPI-monitoring are even further broadening the possibilities of EAM. In many companies, field workers can get all the information they need about a certain asset by scanning its unique tag with a mobile device. AI and cognitive technologies allow operations managers to determine which production units might be prone to standstills through the identification of data anomalies. The possibilities are virtually endless.