Enterprise Asset Management
Enterprise Asset Management is a series of inter-related business processes through which organisations strive to maximise the useful life of their assets, while at the same time minimising the total cost of ownership (TCO) and mitigating the risks associated with asset failure (ERM - Enterprise Risk Management).
"Enterprise Asset Management is a business paradigm that integrates strategic planning with operations, maintenance and capital investment decision-making." (Wikipedia: Definition)
A properly designed EAM program draws upon a vast array of corporate resources that combines the financial, operational and engineering aspects leading to effective management of business objectives.
Effective EAM
An effective EAM consists of these fundamental components:
- Measurement Metrics and Key Performance Indicators (KPIs): Accurate details of the organisations' current measurements across departments or functions and a list of KPIs to monitor successful implementation.
- Business Intelligence: Implementation of business intelligent applications across platforms and functions to record, capture, track the flow of data and process, accurately analyse and report relevant information from different sources (e.g. financial, operational, customer services. etc.)
- Methodology: A systematic method of understanding the information generated by the business intelligence exercise and then deriving scope for improvement in asset performance in the organisation
Benefits of EAM
The key benefits of Enterprise Asset Management are
- Increase asset availability by optimising maintenance strategy
- Reduce Time waste on asset related information
- Optimise effectiveness of work force through advanced work planning features
- Identify under-performing equipment
- Increased plant availability & productivity
- Better equipment reliability
- Higher percentage of planned work
- Better utilization of work force
- Improved safety of plant, people & environment
- Avoid catastrophic failures & forced shutdowns
According to the study "EAM Solutions Deliver Great Benefits" now available from ARC Advisory Group, 60 percent of respondents reported payback within two years, underscoring the effectiveness of Enterprise Asset Management (EAM). Among the survey's findings:
- Almost 90 percent of EAM implementations have provided return on investment.
- The most frequently reported EAM benefit was increased workforce efficiency.
- For government, the major EAM benefit was reduced inventory costs.
- The oil and gas industry uses the EAM functions the most.
Spartan Expertise
Spartan STPG (Software & Turnkey Projects Group) brings together a team of Qualified, Experienced and Committed Staff that specialize in Enterprise Resource Management/ Enterprise Asset Management/ Customer Relationship Management/ Process Control Automation and Workflow Solutions.
Spartan Infotech has partnered with Lapiz Technical Services who are part of a large technology services group and have well established credentials in the international arena.
Our domain expertise extends to the following processes:
- Maintenance Optimisation
- Maintenance assessment
- Criticality analysis
- Reliability Centered Maintenance (RCM)
- Safety integrity Level (SIL)
- Risk Based Inspection (RBI)
- Development of detailed work instructions / maintenance procedures
- Inventory Optimisation
- Cataloguing & Codification
- Inventory analysis
- Spare parts interchangeability
- Initial spares review
- Vendor analysis
- Spare parts obsolescence analysis
- Risk spare analysis
- Data preparation / migration
- SAP & other ERP (Plant Maintenance / Materials Management module)
- Maximo & other CMMS
- Asset register
- Bill of materials
- Asset hierarchy
- BOM hierarchy
- Equipment master
- Materials master
- Repository of equipment information
Successful Implementations
Our list of successful implementations are available here. For EAM case studies pertaining to your industry please send us an email with your full contact details.
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