Enterprise Asset Management

Girish Sharma, Head - Information Systems at Serdia Pharmaceuticals (India) Pvt Ltd | Monday, 14 October 2019, 10:44 IST

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Enterprise Asset management according to me is an extremely important software, there is always a debate whether it should be included as part of ERP implementation or its better to have a separate customized EAM?

EAM helps in identifying, discovering, procuring, managing, monitoring and disposing throughout the lifecycle of an asset. It gives centralized view of all the assets of the organization

“Acting as a central repository for health and safety information, the EAM facilitates inspection rounds and monitors everyone’s safety certification”

It’s extremely useful to manage multi-site, multilocation, and multi organizational assets and gives insight into the lifecycle of assets, which can improve predictability and help a stable operation, ensures warranty compliance and get ahead of issues.

There are many advantages to include EAM as part of your ERP implementation, EAM is a software module that is specifically designed to manage physical assets of an organization. Assets must be well monitored and controlled in order to maximize return of investment. When you use separate EAM software, you may lose sight of the impact asset management has on your enterprise.

                                       Girish Sharma, Head – Information Systems at Serdia Pharmaceuticals (India) Pvt Ltd

The EAM module can help to monitor, schedule, plan, and execute work, while the financial parts are handled in the ERP moreover it avoids duplicate tasks and streamline the asset management process by adding EAM to ERP.

Processes can be made efficient by adding an EAM module as part of an ERP which has many advantages and opportunity to automate many important tasks which improve overall lifecycle of an asset. It helps to avoid legacy way of handling administration of assets.

EAM makes your processes more efficient and gives you the opportunity to automate important tasks that will extend the lifecycle of assets. Minimizing paper-based administration will improve efficiency. You can also automate the creation of quality checks to keep an eye on your equipment, keep tabs on your parts and inventory, and efficiently plan and schedule new jobs to increase overall up-time.

Without an EAM system, it’s too easy to lose track of assets, especially if you’re managing several facilities in various geographic locations. EAM will give insight into the inventory so you can manage service calls and repairs and keep your equipment in working order. Unexpected breakdowns are costly, and an EAM can help to avoid them.

EAM helps identify the location, what it needs, who should work on it and when. It makes critical asset management workflow automated, accessible and auditable and optimizing preventive maintenance schedules or replacement planning.

Mobile technology is changing asset and cost management in a big way. The good thing is, for many EAM systems, there’s a corresponding mobile app for iOS, Android and Windows operating systems to make maintenance and asset management on the go possible. Technicians can check repair histories, audit trails, access parts catalogs, implement new work orders, place purchase orders, and so forth. Everything can be done on a mobile platform, a transformation in organizational practices.

Robust health and safety practices are indispensable for the well-being of the workers, as well as the assets. Modern EAM systems come with powerful health and safety management tools. Acting as a central repository for health and safety information, the EAM facilitates inspection rounds and monitors everyone’s safety certification.

Managing a good and efficient asset-driven environment using an effective EAM is extremely important for an organization for its most critical assets and company resources performing at maximum efficiency. By realizing tangible performance, a company can drive real change. EAM, therefore, helps organizations identify problems faster, keep an eye on performance indicators and deal with issues before they arise.

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