Enterprise Asset Management

1. Enterprise Asset Management (EAM) Enterprise Asset Management​​ is used to plan, optimize, execute, and track the needed maintenance activities with the allocated priorities, skills, materials, tools, and information. However, employing Enterprise Asset Management (EAM) is easier said than done. Keeping track of the life of assets can be very tricky. Given the fact that each asset is unique (as far as utilization and life expectancy are concerned), asset managers need to schedule regular checks to ensure that everything is always performing at optimum levels. Here are a few ways you can ask an asset manager to optimize your enterprise asset management cycle. 1. Conducting Periodic Reviews The first step of ensuring the safety of your assets is to schedule periodic reviews. While we understand that your IT may have already compiled a comprehensive report on the current state of assets, it’s still important to revisit this step. Look out for processes performing at subpar levels and note all such discrepancies down. 2. Customizing Your Workflow Workflows ensure that every scheduled process is completed in the required time period, helping organizations meet their goals and deadlines. As the needs of every organization are unique, customize your workflow as per your needs. This will give you better control. 3. Digitalizing the Asset Management Cycle By far, the best Enterprise Asset Management practice is the digitalization of the entire cycle. Given the sheer number of assets companies possess these days, asset managers cannot be expected to keep and maintain big ledgers accounting for every asset in the company. Digitalization is your best route forward.