What is enterprise asset management (EAM)?
Enterprise asset management (EAM) incorporates the management and maintenance of physical assets owned by a company throughout the entire life cycle of an asset, from capital planning, procurement, installation, performance, maintenance, compliance, risk management, through to asset disposal.
Why is enterprise asset management important?
EAM is important because it helps organizations track, assess, manage and optimize asset quality and reliability. Organizations of all kinds are asset intensive, which means they have hundreds, thousands or even millions of assets.
Assets come in many shapes and sizes—such as office assets, vehicles, manufacturing equipment, buildings, transportation fleets and windmills—and include virtually any piece of equipment needed to sustain production, services and operations. EAM best practices help maintenance teams gain greater control of complex environments to:
Centralize asset information
Resolve issues before they happen
Monitor assets smarter
Maximize asset utilization
Manage aging assets and infrastructure
Elevate maintenance management
Consolidate operational applications
EAM software
Enterprise asset management software is a computer software that handles every aspect of running a public works or asset-intensive organization. Enterprise asset management (EAM) software applications include features such as asset life-cycle management, preventive maintenance scheduling, warranty management, integrated mobile wireless handheld options and portal-based software interface.Rapid development and availability of mobile devices also affected EAM software which now often supports mobile enterprise asset management.
Key features/functions of EAM
Asset life cycle management
Planning
Work order management
Maintenance, repair, and operations (MRO) materials management
Labor management
Financial management
Reporting and analytics
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