WHAT IS EAM?
Enterprise Asset Management (EAM) focuses on maximizing asset productivity with the ultimate goal of improving enterprise profitability. Profitability is impacted by plant availability which is affected by equipment availability and is driven by appropriate maintenance/replacement practices. EAM is involved in the full asset cycle – design, construction, commissioning, operations and decommissioning/replacement of equipment and entire plants.
EAM’s scope is broader than a traditional CMMS (Computerized Maintenance Management System) which is used primarily to manage maintenance work orders. EAM connects the management of assets across an entire enterprise whether those assets are located in a single department or scattered through different types of plants located around the world.
ENTERPRISE ASSET MANAGEMENT PRACTICES
Typical benefits include...
Cost reduction for:
- Improved labor effectiveness
- Optimal parts inventory
Improved information for:
- Consistency due to standard nomenclature
- Reliability due to business rules
- Accessibility through standardized reports
- Regulatory compliance
- Legal compliance
- Speed due to pre-defined links to financial reporting, HR and operations
Better planning in the form of:
- Automatic work order costing for better cash flow planning
- High replacement-cost items can be more easily scheduled for replacement
- Cost and equipment availability can be tracked to a single asset or an entire plant
Comprehensive view of:
- All asset types
- Asset condition
- Locations
- Work processes
WHY ACCURATE EAM DATA IS VITAL
- Effective maintenance scheduling depends on correct asset identification
- Spend analysis requires consistent and reliable equipment classification
- An inadequate maintenance budget will decrease plant availability and output
- Governmental reporting requirements demand accurate information
- Asset and plant valuations are dependent on accurate maintenance reporting
- Consistent data provides a methodology for system-wide improvements
UTOPIA'S SERVICES
- Collection of current asset information
- Construction of BOMs (Bill of Material) to optimize both parts availability and parts inventory
- Creation of consistent definitions and classification hierarchies
- Integration of business processes between physical assets and financial reporting
- Cleansing of asset records to avoid duplication and inconsistencies
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Migration of existing EAM data from legacy systems to new ERP installations