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Enterprise Asset Management (EAM)

Definition:
Enterprise Asset Management is the set of processes, policies and tools that organizations use to optimally manage the lifecycle of their physical assets—such as machinery, vehicles, buildings and infrastructure—from acquisition through disposal.

Key Components:

• Asset registry & hierarchy: A centralized “single source of truth” for every asset, with information on location, status, and maintenance history.
• Work order management: Planning, scheduling, executing and tracking maintenance tasks (preventive, predictive and corrective).
• Inventory & procurement: Controlling spare parts, consumables and purchase workflows to ensure availability while minimizing stock levels.
• Condition monitoring & IoT integration: Gathering real-time data (e.g., vibration, temperature) to predict failures before they happen.
• Reporting & analytics: Dashboards and KPIs (e.g., mean time between failures, total cost of ownership) to drive continuous improvement.
• Mobile access: Enabling technicians in the field to access asset data and close out work orders via tablets or smartphones.

Benefits:

• Reduced downtime: Proactively identifying issues cuts unplanned outages.
• Lower costs: Optimized maintenance schedules and spare-parts management reduce both labor and inventory expenses.
• Extended asset life: Timely upkeep prevents premature wear and replacement.
• Regulatory compliance: Detailed records support audits and safety regulations.
• Data-driven decision-making: Analytics help prioritize investments and retirements.

Typical EAM Software Vendors:

• IBM Maximo
• SAP EAM
• Infor EAM
• Oracle eAM

Easytak is fast and easy to use. Our experts can also provide integration into other ERP systems (such as SAP etc)

How do EAM and CMMS differ from one another?

Although EAM and computerized maintenance management systems (CMMS) are frequently used interchangeably, a closer examination of the two shows that they are not the same. One component of EAM may be a CMMS. Its main goal is to centralize data in order to automate and streamline maintenance management procedures. From acquisition to disposal, asset performance is supported by the asset lifecycle management strategy known as EAM.