How to do accurate and Real time reporting in EAM? With the help of EAM it becomes easier to check on assets that need maintenance and reporting of assets from time to time thus reducing a lot of manual labor and saving time.How to reduce spares inventory cost? Classified and standard data eliminates duplicates within the inventory and identifies obsolete / non-moving spares which helps reduction of overall inventory cost.It also enables scheduling of shared assets, hence improve the overall effectiveness of the assets reducing the idle time of the assets. How to maximize Return on Investment by EAM?: Relying on asset management to make informed decisions about sourcing spare parts, help companies stay on top of costs and also get maximum return from their investments.ĮAM helps to maintain or even enhance the life of those assets by improving their utilization across workforce thus increasing the workflow.While getting into Asset Management it is necessary for one to know the goals of EAM: It does not just mean maintenance of the assets but also understanding the criticality of the assts, how it is used and the financial aspect of it as well to help minimize losses. EAM is usually used in industries that majorly rely on complex and expensive physical assets. This is used to maximize its use, save cost and improve quality and efficiency. Enterprise asset management (EAM) includes the optimization of the entire lifecycle of management of the physical assets of an organization.
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