With rising cost and endless supply chain disruption, being able to keep the operations running efficiently and cost effectively has become a competitive advantage. An Enterprise Asset Management (EAM) solution ensures that all the given plant’s assets are healthy and running smoothly that guarantees on time delivery to the customers. 

Unlike the days of pen and paper based maintenance, the new age EAM solutions help a company to gain a comprehensive view of the assets by providing them with real-time visibility of their present performance and historical data of the past required maintenance. This in turn helps an organization to differentiate themselves from the myriad of competitors. While helping to create a more agile organization with increased throughput.

As EAM gains much importance across multiple industries, the purpose and functionality relating to it are too evolving at a massive rate. In this article let's look into the key developments.

Harnessing the Power of 5G

5G is expectedly the most disruptive technology that is going to hit the market, becoming the linchpin of a new data-driven ecosystem across numerous vertical sectors like manufacturing, oil and gas, healthcare and education. 

As 5G comes with an enhanced capability to connect everything and everywhere, industrial facilities and other vertical sectors that use CMMS and enterprise asset management software can expect to derive value from the new connected ecosystem.

Within these vertical sectors, 5G technology improves responsiveness to increase maintenance and asset management efficiencies, having an extended impact on revenue figures and can serve as a pivotal driver for business growth.

The enhanced connectivity will further help the organizations to improve output and ensure proactive maintenance measures are supported by emerging technologies like the IoT and data analytics. 

Enabling Proactive Maintenance

Unplanned outages can threaten an industrial facility’s ability to properly maintain assets. Downtime associated with unplanned outages can be extremely costly, resulting in production shortfalls and increased labor costs. 

Equipment failure can lead to safety hazards or dangerous breakdowns. This can cause a rise in potential dangers associated with unplanned outages, while developing a significant risk for the employees and assets of the company.

However, with proactive maintenance infrastructure on the line, the industrial maintenance will greatly shift from the passive maintenance solutions. A proactive approach anticipates and resolves underlying maintenance problems before they occur. The proactive maintenance also ensure maximum efficiency of an organization's assets by limiting the downtime and labo    r cost.

Mobile EAM Increasing Productivity

Mobile EAM has helped the organizations to increase their reach and attain real time and more accurate data on the asset condition and performance. With everyone carrying their own smartphones the application allows the users for easy, smart and crisp usage of the software. 

Mobile EAM now brings every information within their fingertips; thereby making it easier for the companies to manage and monitor their assets regularly. Mobile applications also provide the users with wider access to the software making it more comfortable to use. Maintenance managers can use mobile asset management software to implement new work orders, check repair histories, audit trials, and even access parts catalogs to place purchase orders. As many asset management tasks can be done on the mobile platforms, maintenance managers can take data driven decisions. 

Study reveals that mobile apps increase communications by sharing the same resources, to place an order and give replies. It tends to increase productivity to approx 30% with available reporting with accumulated customer data. Furthermore, one added advantage of mobile applications is in the scanning capabilities, that helps the users utilize most of the asset management software. These features include scanning of RFID, Barcode, QR code, NFC and Wi-Fi, IR, Bluetooth, etc.

Progressing With Digital-Disruption

As enterprise asset management develops further into a more digital-centri solution,. Upcoming trends such as new technology enablement, asset transparency and accountability, and more proactive maintenance practices will compel more organizations to adopt maintenance control software like CMMS or EAM.

In the present hyper-competitive market, the implementation of these disruptive trends enables organizations to leverage digital asset management solutions that ensure they stay ahead of the curve. More innovative and robust asset management systems will enable vertical sectors to be more efficient and realize optimum asset life cycles while improving inventory management practices.