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Last Updated: Sep 2009
Last Updated: Sep 2009
In the event of asset failure, quick response time is critical. In recent years, stringent industry-specific environmental health and occupational safety regulations are being enforced by government oversight agencies, with industrial owners and operators responsible for compliance. Asset registers, risk registers, work planning and scheduling, life cycle costing and systematic methods for problem identification, root cause analysis and continuous improvement are increasing seen as prerequesites for a robust asset management system.
By providing a platform for connecting people, processes, assets, industry-based knowledge and decision support capabilities based on quality information, EAM provides a holistic view of an organization's asset base, enabling managers to control and optimize their operations for quality and efficiency.
By providing a platform for connecting people, processes, assets, industry-based knowledge and decision support capabilities based on quality information, EAM provides a holistic view of an organization's asset base, enabling managers to control and optimize their operations for quality and efficiency.
Enterprise Asset Management is a business paradigm that integrates strategic planning with operations, maintenance and capital investment decision-making. On the operations side, EAM caters to increased efficiencies of all assets including inventory, regulatory compliance and human resources by combining the salient goals of investment, maintenance, repair and operations management. Simultaneously, EAM addresses business challenges that include productivity enhancement, maximizing asset life cycle, minimizing total cost of ownership and support of the technology and supply chain infrastructure.
Competitive pressures force organizations to minimize asset total cost of ownership and streamline their asset management operations (these typically involve myriad activities ranging from inventory, parts and labor management to contracts and vendor management for new works). As downtimes become increasingly expensive, both in terms of lost production capacity and unfavorable publicity, organizations are compelled to maximize their asset productive life cycles via optimal maintenance programs.
Competitive pressures force organizations to minimize asset total cost of ownership and streamline their asset management operations (these typically involve myriad activities ranging from inventory, parts and labor management to contracts and vendor management for new works). As downtimes become increasingly expensive, both in terms of lost production capacity and unfavorable publicity, organizations are compelled to maximize their asset productive life cycles via optimal maintenance programs.
