In today's world companies are under increasing pressure to reduce costs, meet tougher performance and production targets, comply with regulatory requirements, and maximize return on assets. A new, more collaborative and integrated approach to Enterprise Asset Management (EAM) can yield significant savings and improve the operational performance of asset investments. This new approach spans all phases of the asset life cycle - investment planning, specification, design, asset construction, operations and maintenance, and, ultimately, decommissioning and disposal. It is time to look at asset management in a more holistic and collaborative business context.
EAM helps companies manage physical assets - production plants, capital equipment, vehicle fleets, and facilities complexes - over the complete asset life cycle. In conjunction with powerful reporting and analysis, our EAM solutions enable you to reduce operating costs, better manage capital expenditure, and improve asset utilization.
In short, EAM is the management of all assets owned by a company, based on maximizing the return on investment in the asset. Also, it is the knowledge derived from asset maintenance plus the planning and actions tools needed to ascertain the greatest organizational impact on the companies' bottom line.
Reducing the costs on buying new assets
Providing new insights into the way in which equipment should be designed, constructed, installed, used, and the maintained
Preparing complex tasks like whole life planning, life cycle costing, and preventive maintenance schedules of the assets are prepared
Providing frameworks that they can use to determine how to adapt to changes (e.g. provide increasing customer base) in the production expansion for not too much invested
Maintaining inventory records
Providing alerts for new material request
Keeping track of asset health
Better work scheduling
Better allocation of resources
Improving financial planning to ensure that the new costs of business are met in the most intuitive way
A Computerized Maintenance Management System (CMMS) is an essential operational and management tool for managing asset preservation, ensuring that production systems operate as required, and minimizing downtime. An effective CMMS should be able to support these functions by automating administrative tasks, as well as by gathering relevant information in order to perform this processes. A CMMS also needs to be able to develop and manage a strategic plan for proper maintenance, replacement, and upgrade of major assets.
With the emphasis made on asset management, one would be tempted to think that EAM Software is limited to the aforementioned function. As the maintenance aspect is the most desired one. Subsidiary functions include risk management, strategic planning, creating work orders to better the efficiency and productivity of your staff.
The nature of business is really dynamic to say the least. This, in other words, means that growth is expected as the business covers and conquers new territory. It is the CMMS software that assumes the responsibility of better work scheduling, better allocation of resources, and improved financial planning to ensure that the new costs of business are met in the most intuitive way. Proper monitoring of assets is crucial at this point, since an increased work orders would mean demand for more output, and this is a likely trigger for a breakdown. Then again, there is the Maintenance Management Software to pick up on any irregularities so they can be addressed immediately.
The availability of EAM software has really changed the costs of doing business, and in a good way. Granted, the investment made on acquiring a CMMS system from a vendor, especially one meant for a large corporation or company, is a huge one indeed, but it is worth it. Over time, it does get to save you millions that you could have spent in replacing equipment because of a fault that went unnoticed.
Guarantee that all required tasks and activities are completed on time.
Incorporate various mechanisms to ensure execution of tasks, including automatic listing of activities, reminders, alerts, escalation procedures, and easy access to information.
Improve reporting and analysis capabilities.
Comply with Health and Safety Regulations.
Improve Business Planning and make informed decisions.
Improve operational efficiencies.
Increase productivity and profitability.
Perform activities effectively; simplify repeatable tasks; provide your staff with easy to use tools that focus on performing tasks.
Let your staff spend more time performing service activities and less time on paperwork and data entry.
Improve strategic and business planning; Analyze records, needs and patterns.
Identify trends and highlight potential problem areas.
Improve controls and accountability; Lead to better quality of work.
Ensure that service is performed according to warranties, guidelines and regulations.
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CMMS stores and generates preventative maintenance work orders. The only human interface necessary to produce timely work orders is in programming the desired schedule into the system.
With all the scheduled maintenance managed through a CMMS system, priorities are readily established. Leveling the workload based on craft and available people improves efficiency. Additionally, by managing and scheduling the workload through the maintenance management system, time spent on labor and equipment repair costs are easily tracked and recorded.
By categorizing and recording all failures within a plant or facility, failure rates and problem areas are quickly identified. With the details of this data, changes in process or maintenance are identifiable to effectively reduce the amount of similar failures.
A computerized maintenance management system provides a resource to management and technicians for equipment specific documentation. Not only are maintenance records available; technical specifications, product bulletins and schematics are retrievable by anyone who has access to the system.
The grand prize of a well-executed maintenance management system--cost reduction. Through measuring maintenance performance, improvements are manageable. Reducing failures and related downtime, also directly impacts revenue.