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EAM to reduce risks & cut costs

Feb. 17, 2020

Asset management that exploits advances in mobile communications. 

Enterprise Asset Management (EAM) offers a holistic approach to the management of assets that exploits advances in mobile-communications technology to increase return-on-investment, slash costs and improve the reliability of asset upkeep.

Projetech's Steve Richmond

The word “enterprise” is key, as EAM software treats the whole organization as a single entity, integrating all business locations, assets, organization systems and labor into a single system. Crucially, as opposed to traditional Computerized Maintenance Management systems, EAM covers assets over entire lifecycles, from ordering, processing, operation, and—when finally needed—decommissioning. 

Let’s consider the example of pumps in a water-treatment plant. Each device has sensors that gather important information from within the device and the surrounding environment, including location, relevant climate conditions, operating speed, and processing efficiency. This data is relayed to a cloud system to be processed, and each device can be assigned a health score. If one pump is performing below adequate requirements, MaaS can immediately alert the relevant administrators who can respond with the required solution.

Previously, these systems would need regular, manual checkups by experienced technicians; new technology contained within EAM systems allow maintenance and repairs to be conducted only when specially required. When upkeep on a system is required, an EAM system can be used to remotely delegate tasks through its labor-force scheduler to a smartphone app. With one quick check, you can see the current bandwidth and availability of your workforce to optimize worker efficiency and labor costs.
Technicians can use the capabilities of their mobile phones, such as cameras or voice-to-text functionality, to provide and instantly transmit much more detailed information about their progress or potential problems. In a business spanning multiple locations, these systems can provide up-to-date information on any potential obstacles in the surrounding environment—from traffic jams to heavy rain.

Benefits of incorporating EAM software for industrial manufacturers 

Incorporating EAM software can have a tremendous impact on an industrial-manufacturing company’s efficiency and bottom line. The benefits of an EAM system extend to a wide range of key departments—including production planning, maintenance, engineering, and quality assurance.

EAM systems also provide significant risk-mitigation. The detailed records of equipment location and performance allow manufacturers to closely monitor compliance with relevant laws and industry regulatory standards. The efficiency and reliability of modern sensors, which provide near real-time feedback, can also help to obviate natural human error. 

Cloud computing and innovative management systems are the way of the future. Businesses that embrace—rather than shy from—sophisticated solutions like EAM software will thrive and provide value for their employees, stakeholders, and the wider public.

Steve Richmond is president and founder of Projetech.