INSIGHTS
ENTERPRISE ASSET MANAGEMENT With this collective arsenal of data gathering tools, businesses can store and analyze large amounts of information such as purchase costs, repair history, energy usage data, audit trails and more. By being able to collect such data, businesses can take full advantage of what an EAM solution is intended for: efficient asset lifecycle management.
Figure 2: An EAM is much more than just a maintenance management tool. Courtesy: Comparesoft. com
Importance of lifecycle management
No matter the type or size of a business’s operations, all asset-intensive organizations rely on the proper upkeep of their assets, particularly in industries like manufacturing and utilities where large assets such as machinery and infrastructure make up a large portion of operations. Which is why, for organizations that center revenue around the output of their assets, successful asset lifecycle management is vital.
There are four stages of asset lifecycle management: planning, procurement/acquisition, operation and maintenance, and disposal/replacement. Whereas a CMMS is geared more toward the operation and maintenance phase of an asset’s lifecycle, EAM tools have the capabilities to function at all four stages. One person who knows the benefits of deploying an efficient asset management and maintenance system is Ryan Batchelor, maintenance manager at Britvic Plc.: “We only run 24 hours, Monday to Friday. At the weekends, we shut down for planned maintenance activities…So when we start up on Monday, we’ve got smooth sailing for the week,” he said. Being able to control the lifecycle management of each physical asset in one centralized system can be a revelation for asset-intensive businesses. Not only does it simplify data analysis and help to seamlessly share information across the right departments, but it also benefits businesses by prolonging optimal performance levels, supporting preventive maintenance strategies and ensuring compliance with regulatory standards. PE Craig Greenhalgh is a research analyst at Comparesoft. com.
input #4 at www.plantengineering.com/information
