SAP Asset Management


What is Enterprise Asset Management?

 Enterprise asset management (EAM) focuses on managing the maintenance of an organization’s physical assets throughout their lifecycle. Technology now plays a greater and more critical role in this endeavor as asset downtime can lead to significant revenue and brand repercussions.

SAP Intelligent Asset Management

SAP offers SAP Intelligent Asset Management, a group of solutions that “enable an organization to use sensor technologies and predictive analytics to improve asset health.” The four solutions and some of their capabilities include:

What is Enterprise Asset Management?

 Enterprise asset management (EAM) focuses on managing the maintenance of an organization’s physical assets throughout their lifecycle. Technology now plays a greater and more critical role in this endeavor as asset downtime can lead to significant revenue and brand repercussions.

SAP Intelligent Asset Management

SAP offers SAP Intelligent Asset Management, a group of solutions that “enable an organization to use sensor technologies and predictive analytics to improve asset health.” The four solutions and some of their capabilities include:

  • SAP Asset Intelligence Network

            — Collaborative EAM

            — Automated equipment tracking

  • SAP Predictive Asset Insights

            — 360-degree view of assets

            — Advanced predictive analytics

  • SAP Mobile Asset Management

            — Work order management

            — Cloud-based deployment

  • SAP Asset Strategy and Performance Management

            — Asset information management

            — Failure modes and effects analysis

Apply Industry 4.0 technologies for advanced enterprise asset management execution. Sources cite the increased use of artificial intelligence and machine learning in EAM applications to better automate and predict maintenance events. Through data analysis, companies can glean predictions and recommendations that provide greater insights for EAM decision making. Through the use of the cloud, companies can more accurately track their assets and assess their conditions in real time.

Consider vendor consignment for your EAM spare parts procurement strategy. Vendor consignment enables an organization to hold inventory in its warehouse without paying the vendor until it’s consumed. What are the advantages of this strategy? In the case of spare parts for physical assets, it allows for a reduction in the company’s own inventory stock while creating fewer steps in the procure-to-pay process. Read this articleto gain a full understanding of setting up vendor consignment as part of EAM for spare parts in SAP ERP Central Component (SAP ECC).

Implement a robust EAM strategy for fleet maintenance to ensure availability and reliability. For many companies, fleet management is critical for servicing customers and meeting their expectations. For example, SBB AG, the national railway company of Switzerland, required a powerful solution to optimize the maintenance of its rail fleet. The company implemented SAP’s Intelligent Asset Management solutions that enabled real-time monitoring of tracks and rail cars for a “reliability centered” approach to its maintenance process.

388 results

  1. How to Comply with the Provisions of IFRS while Recording Capital Asset Transactions in SAP ECC 6.0

    Reading time: 26 mins

    Learn key adjustments that are required to make capital asset management compliant with International Financial Reporting Standards (IFRS). See the changes you need to make in SAP ERP Central Component... This content is available to Premium Members. Sign In Learn more about Premium Access
  2. Inflation-Based Revaluation of Fixed Assets

    Reading time: 23 mins

    ...is a statutory requirement for several high-inflation countries. These countries publish an inflation index for revaluation of the fixed asset base of the company. In... This content is available to... This content is available to Premium Members. Sign In Learn more about Premium Access
  3. AUC with Investment Measure Using Work Breakdown Structure

    Reading time: 20 mins

    FinancialsLearn how to implement assets under construction (AUC) with the Investment Management module using work breakdown structure (WBS). Follow a detailed discussion of the settlement process. Key Concept A work... This content is available to Premium Members. Sign In Learn more about Premium Access
  4. Asset Management

    Achieving Effective and Efficient Asset Management

    Reading time: 11 mins

    In heavy asset intensive industries from manufacturing and processing facilities through to Rail, Aerospace, Utilities, Oil & Gas and Mining operations, the largest operational expense beyond the CAPEX of building... This content is available to (General or Premium) members. Sign in or Join for free! Sign In Become a Member
  5. How to Set Up and Process Leased Assets

    Reading time: 11 mins

    ...you can maintain several kinds of assets. One particular kind is the leased asset. Besides the standard fixed-asset functionality for this kind of asset, the... This content is available to... This content is available to Premium Members. Sign In Learn more about Premium Access
  6. Create Multiple Assets with Individual Characteristics in One Step

    Reading time: 7 mins

    Learn how to customize the functionality required to simultaneously create multiple assets and still be able to maintain specific data for each individual asset. Key Concept Within Asset Accounting (FI-AA),... This content is available to Premium Members. Sign In Learn more about Premium Access
  7. 3 Ways to Ensure Accurate Depreciation Values in ECC

    Reading time: 12 mins

    The primary focus of the Asset Accounting (FI-AA) sub-ledger is to accurately calculate and track values for fixed asset records. Often it is possible that planned values stored in FI-AA... This content is available to Premium Members. Sign In Learn more about Premium Access
  8. SAP S/4HANA Finance: Understand the Different Options and Nuances of Enabling Parallel Accounting in New Asset Accounting

    Reading time: 24 mins

    Learn about the configuration options available in SAP S/4HANA Finance to set up parallel accounting aligned to different accounting principles, especially when you are migrating from classic Asset Accounting (FI-AA),... This content is available to Premium Members. Sign In Learn more about Premium Access
  9. How SAP ERP Combats the Challenges of Global Accounting and Financial Reporting Standards

    Reading time: 16 mins

    Review some SAP ERP solutions, functionalities, and capabilities that you can use to meet the challenges of specific International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) requirements, including... This content is available to Premium Members. Sign In Learn more about Premium Access
  10. Enhancement Package 5 Includes Fixed Asset Segment Reporting Improvements

    Reading time: 9 mins

    New features in enhancement package 5 change the way you report fixed assets. Walk through some of these features and see how they’ll affect you. Key Concept SAP ERP 6.0... This content is available to Premium Members. Sign In Learn more about Premium Access