CIOReview
CIOREVIEW >> Enterprise Asset Management >>

How Can Enterprise Asset Management (EAM) Software Increase the Lifespan of Equipment

By CIOReview | Thursday, July 23, 2020

The companies must make use of Enterprise Asset Management (EAM) Software to ensure that they increase the lifecycle of the equipment used in the facilities.

FREMONT, CA: Enterprise Asset Management, or EAM software, helps the companies to maintain the assets all through its lifecycle successfully. EAM can be utilized for implementing, optimizing, and monitoring the maintenance routine related to the assets, inventory, work orders, tools, and information.

What is EAM software?

EAM software provides a unified platform that the organizations can use for tracking every information and maintain the activities associated to the physical assets of the facilities and the systems utilized for fleet, construction, and manufacturing equipment.

What are the advantages of using EAM software?

1. Improving operational productivity

Applying a robust and developed system to track and manage the assets will offer the information which is necessary to recognize the best practices that can be used for asset management best practices to accomplish better assets and operations. For example, if a company is managing a large fleet, they can make use of the fleet management feature offered by EAM software to run reports that will help to regulate the models, and types of vehicles are necessary for maintenance. Moreover, this type of information is valuable for executives as they have to make massive financial decisions related to the replacement procedures and asset lifetime.

2. Better-quality of collaboration

One of the most common issue that the implementation experts have to deal with is the internal tug-of-war over equipment and parts, that can leave the worksites deprived of the resources which are required to function at an optimum level. Enterprise Asset Management software has several features asset- and tool-tracking that will allow the companies to remove the problem. By utilizing the equipment management software, it will become easy for the managers to see where tools and equipment are and who is using them. Such records will help them to effectively to hold the employees responsible by reducing the excuses given by them for equipment downtime or unavailability.

3. Enhanced asset reliability and decrease in expenditure

The preventive maintenance procedures are more cost-effective than reactive maintenance routines. The PM prioritizes the maintenance tasks, although they are small, simple, and comparatively low-priced to fix, while the reactive maintenance can only be conducted after severe, expensive issues have occurred.

EAM software will permit organizations to standardize the maintenance lists so that it can easily be applied through the entire organization. It will enhance the everyday asset dependency and extends the lifecycle of the assets.