The Value of EAM: Highlights and Industry Applications
Enterprise asset management pays off in the day-to-day: faster work orders, scheduled preventive maintenance, safer operations, and better data. Here’s what EAM looks like in practice, and how different industries put it to work.
What Is EAM?
Enterprise Asset Management (EAM) is the process of managing the maintenance of physical assets and equipment of an organization throughout each asset’s lifecycle. The objective of EAM is to maximize asset/equipment lifespan, minimize costs, enhance the quality and utilization of assets, increase efficiency, and improve safety. From steam engines to AI – explore the industrial revolutions that shaped asset management.
EAM is frequently associated with a computerized maintenance management system (CMMS), but a more intensive glance at EAM versus CMMS uncovers there is a slight distinction. CMMS is a software solution that manages the maintenance work necessary to extend an asset’s usefulness and profitability. EAM optimizes an asset’s life cycle in order to decrease the Total Cost of Ownership (TCO) and at the same time maximizing overall asset productivity and Return on Asset (ROA). Managing assets effectively requires robust asset management software to track lifecycle data.
For the signs your organization needs EAM, its full list of benefits, and how it improves ROI, see Enterprise Asset Management (EAM): Why It’s Essential. For the complete definition, see What Is EAM?
The Importance of Enterprise Asset Management
EAM is significant because it helps businesses track, manage, and enhance asset quality and dependability. EAM comes with an array of benefits, including speedy maintenance routines, easier contract management, better organization, simplified asset tracking, and much more. Implementing EAM best practices gives organizations more control and management to:
Improve Asset Utilization and Reduce Costs
EAM incorporates the entire lifecycle of an asset, which includes the optimal management of the physical asset/equipment of a business to maximize value.
Centralization of Asset Information
A CMMS, as a component of EAM, provides maintenance teams with the information they need on where an asset is located, what it needs, what resource expertise is needed to work on it, and the time frame. With the automation of critical asset management workflows, data is easily accessible and auditable.
Oversee Maturing Resources and Infrastructure
Return on investment is improved through more informed maintenance strategies, and including risk management into business processes.
Identify and Resolve Issues Before They Occur
EAM asset management strategies enable organizations to effectively manage assets and prevent downtime. One of the most important software features includes the ability to stay on top of preventive maintenance. Implementing a standard preventive maintenance plan helps keep assets running at peak performance and extends asset lifespan.
EAM is a combination of software, data, and processes used to maintain and control functioning assets and equipment. The main objective of EAM is to optimize the quality and utilization of assets throughout their lifecycle, which can help increase productivity uptime and lower operational costs.
Types of Maintenance
Reactive
Sometimes referred to as corrective: fix it when it breaks.
Preventive
Maintenance on a predetermined schedule.
Predictive
Condition-based monitoring triggers work orders.
EAM Highlights
Work Order Management
EAM software automates, documents, and streamlines the timely processing of work orders from beginning to end.
Preventive Maintenance Scheduling
Easily plan, schedule, and assign work orders for greater control over maintenance processes and procedures.
Reducing Health & Safety Concerns
EAM is an intuitive repository for enterprise operational data. Enhance incident reporting and disaster response with real-time data. With easy documentation and reporting of health and safety issues, EAM makes it easy to analyze incident issues, take corrective action, and have traceable reports for insurance audits.
Mobility
EAM web-based software provides users with access to the same information no matter where they’re located. The electronic delivery of work order information allows technicians to immediately assess the complaint, cause, and correction options, including researching repair options, needed parts, schematics, service bulletins, manuals, and other information needed for a fast and efficient preventive or corrective maintenance process.
Supply Chain Digitization
EAM technology is both driving and being driven by supply chain digitization. The increased efficiencies acquired in parts procurement, receiving, storage, delivery, and disposition have a positive impact on maintenance efficiency, asset uptime, and performance.
Reporting and Key Performance Indicators (KPIs)
Get a comprehensive view of your maintenance operations through powerful dashboard and reporting features. KPIs are a good foundation to keep track of areas that may need a deeper analysis. Maintenance analytics and KPIs provide great visibility into asset condition and health.
Key Industry Applications
No matter what size company you may have, or what industry you support, everyone has assets that need to be maintained. Below are a few examples of industries and the applications they use EAM for:
Manufacturing
Manufacturing incorporates a wide variety of areas: automotive, food, aerospace, defense, electronics, industrial products, consumer products, and the list is unlimited. For manufacturers to achieve their full operational growth potential, organizations need to control and reduce maintenance costs, improve physical asset lifespan, streamline workflow, and maximize production efficiency — all achievable through an Enterprise Asset Management (EAM) solution.
Education
Universities, college campuses, and schools need to adhere to strict regulations and rules. Preventive maintenance activities to support these educational institutions are more than just fixing broken equipment. From weather, natural wear and tear, asset failure, or neglect, keeping these institutions safe, attractive, and in good condition can be done easily through EAM software.
Hotels & Restaurants
Hotels, casinos, restaurants, etc. — these industries depend on an EAM solution that can help them understand and effectively manage all facilities, equipment, compliance regulations, and energy costs to ensure they exceed customer expectations.
Energy and Utilities
EAM software solutions are used by energy and utility companies to ensure their infrastructure is able to meet diverse challenges. EAM is used to accommodate complex crew scheduling and consider geospatial information from remote assets.
Healthcare
Healthcare organizations using EAM are more prepared to integrate equipment management, reporting, performance monitoring, and other key functions, ensuring crucial medical equipment is always available when personnel need it to deliver patient care.
And the list goes on! See all the industries we serve.
See eWorkOrders EAM in Action
Speak with one of our Account Executives — former eWorkOrders users themselves — for a live demo and answers to your specific questions.
Frequently Asked Questions
What are the main highlights of EAM software?
EAM software automates and documents work orders from beginning to end, schedules preventive maintenance, centralizes health and safety reporting, gives technicians mobile access to work order information, streamlines parts procurement through supply chain digitization, and provides dashboards and KPIs on asset condition and health.
What are the three types of maintenance in EAM?
Reactive (or corrective) maintenance fixes equipment when it breaks; preventive maintenance is performed on a predetermined schedule; and predictive maintenance uses condition-based monitoring to trigger work orders.
Which industries use EAM?
Manufacturing, education, hotels and restaurants, energy and utilities, and healthcare all use EAM — and the list goes on. Every organization has assets that need to be maintained, whatever its size or industry.
About the author: Janet Jaquis is a CMMS software specialist with over 8 years at eWorkOrders, where she develops educational content, technical guides, whitepapers, and implementation resources for maintenance management professionals.
