Top 5 trends for the EAM future

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Enterprise Asset Management (EAM) systems are considered essential to assist companies in improving the quality and efficiency of their assets. Keeping assets running smoothly with high availability can be a challenge often overcomed with the use of tools and appropriate staff.

A good EAM system includes maintenance management with replacement, repair, procurement management, materials, operational and others. Some of the key benefits include reduced maintenance costs, higher return on investment in assets, productivity and equipment performance increasing and substantial gain in visibility of the operation.

However, keeping an EAM such as SAP PM or IBM MAXIMO running smoothly, without taking advantage of some of its trends for the future – although trend may not be the best placement, as some companies are already having results – can be a waste, and, in times of crisis, wasting is not an option.

An analysis by the IMF (Future Market Insights) shows that the annual growth of the enterprise asset management market is around 7.2% by 2026. It is essential that managers know the main trends that favor this growth. See below the five major trends pointed out by leaders of the world’s largest industries.

1. Mobility

Whether it’s in a plant or managing teams on the ground, a mobile application helps in the conduct of very important daily tasks, saving resources and time. For example, if your company’s teams owned a mobile application in an Android, Iphone or Windows phone, they could enter equipment data directly into devices, sending and receiving EAM data automatically. This will eliminate manual insertion of data, reducing the margin of error. In addition, a mobile application also helps in the process of creating Work Orders, since the feature does not need to be physically on a workstation, enriching EAM data to support future decision making, such as an update needs some information such as downtimes, worked hours, materials consumed and records of problem, cause and solution.

2. Cloud

Escalabilidade, agilidade na gestão dos projetos, recuperação de backup facilitados, maior segurança, menor custo de propriedade e flexibilidade. Essas são apenas algumas das vantagens de colocar o sistema EAM (e todos os outros) da sua empresa na nuvem (Cloud). Atualmente, não é nenhuma surpresa que a nuvem seja o modelo de entrega de software favorito e mais utilizado no mundo, apoiados por grandes empresas como Amazon, Microsoft, Google, IBM e SalesForce. Talvez seja o momento da sua empresa considerar este avanço, reduzindo os custos com sua infraestrutura de TI e aumentando a disponibilidade dos sistemas da sua empresa.

Scalability, project management agility, backup recovery ease, increased security, lower cost of ownership and flexibility. These are just some of the advantages of putting your company’s (and everyone else’s) EAM system in the cloud. Currently, it is no surprise that the cloud is the most widely used and favorite software delivery model in the world, supported by major companies such as Amazon, Microsoft, Google, IBM and SalesForce. It may be time for your company to consider this breakthrough by reducing costs with your IT infrastructure and increasing the availability of your business systems.

3. Predictive Analysis

Managing and mitigating risks are the major pillars of asset management. Identifying, quantifying and prioritizing the identified risks converts the company’s approach from the perspective of reactive to predictive maintenance. A good EAM should offer both: the preventive, with the option of scheduling scheduled maintenance and meter reading and the ability to predictive maintenance via the Reliability Centered Maintenance (RCM) model. In the RCM, the system evaluates the history of asset failures to optimize maintenance routines or even ELIMINATE the possibilities of asset failures, working in tandem with intelligent condition monitoring, collecting and analyzing data from a variety of sources, evaluating and comparing current and historical data. Predictive Maintenance can be leveraged to another level with the help of the next trend highlighted in this article: the Internet of Things.

4. IoT (Internet of Things)

The Internet of Things is a revolutionary concept that consists of connecting and sharing relevant information from ‘things’, such as sensor data that aid in the decision making.

“For example, a sensor that sends temperature information from a motor at all times to a central system, which has an alert control and/or reaction.”

Asset management is one of the most benefited areas by this new revolution because it allows machines to interact with each other without the need of human intervention. Thus, processes such as preventive maintenance and RCM (cited in the previous trend), become much simpler and direct. IoT, although still new to many people, is already a consolidated reality in large industry sectors, integrated to ERP and EAM systems.

5. Intelligent inventory management

Improving inventory availability for critical items helps reduce asset downtime and reduce inventory surplus. These goals can be achieved through advanced inventory management systems, providing significant cost reductions. Among the characteristics of a robust solution, we have:

  • Classification of items;
  • Services;
  • Delivery times;
  • Demand and prognostic management;
  • Calculation of minimum and maximum;
  • Inventory surplus;
  • Control panels and reports.

MaximoCon has direct solutions or through partners for each of these trends. Please contact us to learn more.

Website: http://www.maximocon.com
Email: maxadmin@maximocon.com
Phone: +55 31 3582-0082

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