Successful companies are able to adapt to change, making their activities more effective and promoting flexibility and agility. Enterprise Asset Management (EAM) can constitute a decisive factor in this growth process, a critical factor in achieving the desired results, centralizing models, data processes with a view of the whole, but also recognizing the role and the specific traits of the different company sites involved.
It should be evident how Enterprise Asset Management (EAM) is essential for the good health of a company. If managed properly it can help extend the useful life of equipment, increase the return on investments and allow making new ones. The IBM Maximo Enterprise Asset Management software solution provides the fundamental elements for better management of the infrastructure resources of the company.
The term asset management is defined by the PAS 55 international industry standard as “… a coordinated set of activities and systems practices through which a company manages in an optimal and sustainable mode their assets and asset systems, as well as their performance and the risk and expenses associated with them throughout their life cycle, in order to achieve the organization’s strategic objectives”.
There are different levels of identification and management of a company’s critical and strategic assets, from physical ones (such as a discrete type of asset, linear assets (means of transport), and networks) to human resources.
Physical assets are part of the infrastructure of a company, we find here the production facilities, the infrastructure and the means of transport. Examples of physical assets related to the IT world can be desktop PCs, notebooks, mobile phones, the company network and also storage and software.
Considering human resources as an asset brings great advantages to the company, in fact, this perspective provides a broad overview of the involvement, the knowledge or skills, the roles and the responsibilities of the personnel.
IBM Enterprise Asset Management provides a unified and integrated approach to managing the entire asset portfolio. This leads not only to an alignment of application solutions with the overall business objectives, but also to a consolidation of the platforms so as to mitigate costs and overall risks.
Maximo is useful then to asset-intensive companies for managing the entire asset lifecycle, for example for the management of inventory and production, machinery repairs, operational teams, the maintenance of the physical plant, infrastructure and transport.
With this EAM solution a company can gain visibility in near real-time of the use of the assets and in this way, manage them better. In fact, every aspect that concerns the life cycle of the assets and the relative processes linked to them can be analyzed in detail through the use of specific modules that characterize the solution. Some examples of this are the asset management module, the materials management module and the contracts management module.
This EAM solution therefore enables companies to manage in a single application linear and conventional assets. It allows monitoring the conditions of assets and locations to enable proactive (rather than reactive) maintenance which leads to a reduction in equipment downtime and maintenance costs. It will also keep track of the details of assets including location, work, costs, and other attributes, and the related history to maximize productivity and extend the life of the asset.
The use of the EAM solution is advised for all companies for their IT asset management since there is nothing more important than attaining the control necessary to track and efficiently manage the asset data and its location throughout the life cycle of the assets themselves.