Enterprise Asset Management (EAM) Hub

Enterprise Asset Management (EAM) is a business strategy that focuses on managing an organization’s physical assets throughout its lifecycle, such as equipment, facilities, and infrastructure. EAM uses technology and processes to optimize asset performance, reduce downtime, and extend asset lifespan.

Some key features of EAM include:

• Asset Tracking: EAM systems enable organizations to track their assets, including their location, condition, and maintenance history. This can help organizations identify potential issues before they become major problems and schedule maintenance and repairs in a timely manner.
• Maintenance Management: EAM systems provide tools for managing asset maintenance, including scheduling and tracking preventive maintenance, executing work orders, and tracking spare parts inventory.
• Asset Performance Optimization: EAM systems enable organizations to optimize asset performance by providing data analytics and insights on asset performance and utilization. This can help organizations identify opportunities for improvement and reduce downtime.
• Compliance Management: EAM systems provide tools for managing regulatory compliance, including tracking safety inspections and audits and ensuring that assets meet environmental and safety standards.
• Integration with Other Business Systems: EAM systems can be integrated with other business systems, such as enterprise resource planning (ERP) and supply chain management (SCM) systems, to provide a more comprehensive view of asset management across the organization.

EAM can be used by a wide range of industries, including manufacturing, transportation, and utilities. By leveraging EAM, organizations can improve asset performance, reduce downtime, and extend asset lifespan, resulting in cost savings and improved operational efficiency.

The Enterprise Asset Management (EAM) category within our CIO Reference Library is a curated collection of resources, articles, and insights designed to provide IT leaders and other executives with a comprehensive understanding of the EAM concept, its key principles, benefits, and challenges. This category aims to equip decision-makers with the foundational knowledge to evaluate, adopt, and manage EAM solutions within their organizations, ensuring alignment with their unique requirements, objectives, and operational landscape.

In this category, you will find valuable information on a wide range of topics related to Enterprise Asset Management (EAM), including:

• An overview of EAM, its history, and its evolution over time, providing context for the current state of EAM in the enterprise landscape.
• Key principles of EAM, such as the holistic management of an organization’s physical assets, including maintenance, procurement, disposal, and performance monitoring, to optimize their lifecycle value.
• The benefits of adopting EAM solutions for organizations including reduced operational costs, increased asset availability and reliability, improved risk management, and enhanced decision-making capabilities.
• Potential challenges and risks associated with EAM adoption, such as data quality and integration issues, organizational resistance to change, and ensuring the right balance between asset performance, cost, and risk.
• An introduction to EAM software solutions, including their typical features and functionalities, such as asset tracking, maintenance planning, and work.