Enterprises require Enterprise Asset Management (EAM) measures to ensure that their plant, equipment and facilities are secure, reliable and available.

1. Understanding Enterprise Asset Management
There are plenty of problems that can occur when any of your equipment, fleet or facilities become
unavailable, inefficient or unreliable. Every enterprise requires Enterprise Asset Management (EAM) measures
to ensure that their plant, equipment and facilities are secure, reliable and available. Enterprise Asset
Management techniques can assist you in meeting your environmental and compliance objectives. With the
right EAM software, an organization can not only maximize its asset and equipment utilization, but more
efficiently manage parts and MRO inventory levels. Additionally, workforce productivity will also see a marked
improvement; improving data collection and reporting accuracy, and thereby further ensuring an enhanced
decision-making process within the enterprise.
A recent IDC survey revealed that enterprise asset management (EAM) “as a segment would grow steadily
over a period of five years given industry's efforts to mitigate the effects of the recent economic downturn.”
An effective EAM solution should offer you:
1. Maintenance, risk management and strategic planning benefits
2. Best possible ways to schedule preventive maintenance and allow you to assign resources
accordingly
3. Ways to find out when, where and why your assets might have failed you
4. Alternative ways to replace defective assets
5. Correct predictions on equipment reliability issues
6. Methods to manage assets to enable you to meet your objectives.
What to Look for in an Asset Management Solution
Today enterprises should look at solutions that can consolidate their disparate systems into a single platform. This
would assist them in decreasing redundancies and reducing inconsistencies that may crop up between
applications. Enterprises need to maximize the utilization of preventive and corrective maintenance solutions.
Enterprise asset management software that can provide mobile solutions will increase the operational efficiency of
organizations that have dispersed assets or those that require real-time asset condition data collection. Managers
who are on often traveling can also make use of such mobile-enabled maintenance management software tools
for decision making and analysis. Integration with GIS and RFID tags can also dramatically help enterprises
optimize asset management processes. Through integration of asset management applications with smart
devices, increasing OEE and asset utilization uptime can be substantially improved.