15 September 2021
For an asset-intensive business, effective management of the physical assets, fleets, and infrastructure, as well as ensuring their timely maintenance is of utmost importance for success. Proper asset management also plays an important role in achieving business goals, growing revenue, reducing downtime, improving asset utilisation, increasing equipment performance, minimising the risks of failure, and much more. An EAM or Enterprise Asset Management system offers organisations the technology and capabilities they need for proper asset maintenance and management.
Apart from affecting greater operational efficiency, EAM asset managementsystems can also help you improve your overall maintenance strategies for better returns.
What is Maintenance Efficiency?
Maintenance efficiency is a measure of the maintenance efforts required to ensure an asset or equipment delivers the expected performance levels. It is all about the maintenance or upkeep of an asset and the ‘efforts’ involved can include man hours, maintenance costs, wages of the maintenance staff, and more.
How EAM Can Help You Improve Maintenance Efficiency
Keeping track of asset life cycles and maintenance history without a dedicated software or system can become extremely difficult and time consuming. That is why more and more businesses are opting for enterprise asset management systems to manage the lifecycles of their assets along with their maintenance histories, so they can ensure optimum asset lifespans, reduce involved costs, and optimise the standards, efficiency, and safety of operations.
An EAM asset management system combines software, tools, and services that can be used to maintain and control operational metrics, such as costs and time, related to assets and equipment owned by the business.
EAM Features that Can Help Improve Maintenance Efficiency
One of the biggest aspects of keeping the downtime low in regards to asset maintenance activities is always being aware of important information, such as asset location, activity, parent, manufacturer, installation date, spare parts, safety regulations, etc. Using an EAM Asset Management system, organisations can easily collect, manage, maintain, and analyse this information in a single place.
An EAM asset management system is especially handy for ensuring that all the necessary spare parts and equipment you need for seamless operations are available in the inventory when they are needed. The barcode scanning and inventory tracking capabilities of the EAM help locate parts quickly, manage their use at the appropriate rate, and have an overall efficient maintenance process, that helps with faster repair times and higher productivity. The EAM or enterprise asset management system also offers valuable insights into parts utilisation and costing, as well as automated inventory control reminders to help reduce costs and streamline the inventory process.
EAM or enterprise asset management solutions offer insights into maintenance and performance across all organisational assets. Using an EAM for asset management system offers easy access to important information like SOPs from the manufacturer, safety standards, and other key parameters. This information helps enhance planning and work execution, also helping businesses come with benchmarks for established practices to ensure minimum downtime and costs in the event of breakdowns and maintenance delays.
An EAM or enterprise asset management solution is a platform designed to drive maintenance improvements and promises significant organisational benefits when it comes to maintenance efficiency.