Using an EAM Asset Management System is the best way to boost maintenance efficiency

The primary objective of Maximo maintenance software in any organization is to increase equipment availability and minimize failures and breakdowns. Common types of maintenance-related work in an IT infrastructure include Preventive Mainten

ance, Emergency Maintenance, and Corrective Maintenance.

Every aspect of maintenance has a cost attributed to it, such as the cost of parts or items to be replaced or repaired, service charges, including labour. 

The significance of maintenance efficiency indicates the effort required to deliver the required performance from the asset. It is complicated to keep track of maintenance history and asset life cycle manually without a dedicated system. 

Enterprise Asset Management, also popularly known as the EAM software system, helps manage the asset or equipment life cycle. 

The technology used by EAM enables one to monitor, manage and maintain assets throughout their lifecycle. This helps extend the equipment life span, decrease maintenance costs and optimize efficiency and safety. 

Essential applications in maximo asset management essentials 

• Asset management 
• Contract management
• Work management 
• Procurement management 
• Material management 

An efficient EAM system will ensure that all the activities mentioned above can be managed easily with automation, thus ensuring fewer manual interventions at critical times. 

Asset management 

During maintenance activity, it is crucial to know asset details such as Location, criticality, asset installation date, manufacturer, spare parts, safety regulations, and warranties. This information will help complete the activity fast and keep the downtime to a minimum. 

An EAM will enable all the information in a centralized system that comes in handy during maintenance activities. For example, depending upon the criticality of an asset, the maintenance job gets planned and scheduled so that the equipment is available sooner than expected. 

Contract management 

An organization may have several contracts associated with multiple vendors, such as purchase contracts, price contracts, warranty contracts, etc. For a maintenance engineer, it is imperative to know each asset warranty detail so that in breakdown, the warranty can be invoked with the manufacturer and claims tracked. The EAM system can automate invoices and reduce the manual workload of maintenance personnel. 

Work management 

Maintenance teams, including technicians, must have all the work execution details beforehand, whether emergency, corrective or preventive maintenance, to fix the assets in time. The EAM system provides all information like SOP (Standard Operating Procedure) from the manufacturer and safety guidelines for operations. This information helps to plan and execute the work better. Also, this will give enough time to the maintenance engineer to choose materials and cost estimates from different vendors and analyse the maintenance cost of the asset. 

Procurement management 

It helps in efficient supply chain management and increases maintenance efficiency. EAM system provides details of vendors, technical information, quotations, delivery status, availability, and linked email messages to vendors. 

Material Management 

Availability of materials is crucial, especially if there is a breakdown in critical assets. The material management from the EAM system will keep a record of all the parts/ items inventory and replenish it at the appropriate times with automated alerts from the system. Also, they can act as a central repository for material inventories across locations and warehouses. 

Conclusion 

An EAM asset management system ensures the operations of any business do not suffer from downtime caused by a lack of information, inventories, and planning. The automation allows organizations to forecast, plan and schedule maintenance.