Enterprise Asset Management, EAM
EAM (Enterprise Asset Management) is a systematic and coordinated activity of an organization aimed at optimal management of physical assets and their operation modes, risks, and expenses throughout the entire life cycle for achieving and implementing the organization’s strategic plans.
The EAM system is an enterprise application asset management software as part of the EAM strategy. Its application is focused on:
- increase in production parameters of the equipment without increasing costs;
- the reduction of equipment maintenance costs;
- maintenance, repair, and logistical support of the equipment without reducing the level of reliability.
EAM systems allow the following processes to be managed consistently:
- maintenance and repair;
- inventory management (spare parts for maintenance);
- quality, human resources, and financial management in terms of maintenance, repairs, and logistics.
As of mid-2010, EAM modules were part of almost all large universal management software packages. Specialized EAM systems also exist and develop, including those focused only on specific industries.
EAM systems allow to effective management of the full lifecycle of any corporate assets: buildings and structures, industrial equipment, a fleet of vehicles, elements of engineering infrastructure, information technology, business applications, software licenses, and others.
The profitability of the enterprise largely depends on the efficiency of the use of production assets. With the help of EAM systems, company management can make decisions about decommissioning unprofitable assets and replacing them with modern ones or about the need to modernize existing ones. The system keeps records and analyzes the costs of maintenance, helps to determine the total cost of ownership of assets, to forms a regulatory framework and knowledge base for maintenance and repair of equipment. EAM allows planning maintenance and repair in any way in accordance with the chosen strategy for servicing the production asset (run-to-failure, preventive maintenance, and on-condition maintenance).
The overall objectives of EAM systems are to ensure such a mode of operation of basic production assets that would ensure the maximum throughput of production by maintaining the necessary availability ratio at the acceptable level of costs for maintenance and repair of fixed assets of the enterprise.
A state-of-the-art IT-Enterprise.EAM solution meets the new needs of departments for equipment maintenance, corresponding to the digital economy era.