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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.
21 results
Achieving Asset Management Excellence through an Integrated PlatformMay 19, 2023 — Discover how using an integrated, scalable platform (with standard functions like planning and scheduling to more advanced functions like predictive analytics) can help with change management and user adoption to progress your asset management state from reactive to proactive.
1 minute read
The APM Journey a Story of What it Takes to Move from Time Based to Condition Based Maintenance - It’s Different than you Think!May 18, 2023 — The culmination of Graham’s career, this address will leave the audience wanting more after learning the why. And with Dieter Haesslein – SAP’s head of Development: EAM, along for the ride to close out the session.
1 minute read
Transforming to Intelligent Asset Management with SAP SolutionsApr 18, 2023 — Asset-intensive industries need to deliver on driving safe operations, minimizing costs, and maximizing productivity. But to consistently achieve these objectives, organizations must adopt a more comprehensive approach to Asset Management by enhancing collaboration with suppliers, customers, and service providers for better cooperation and coordination, streamlining asset maintenance processes, shifting from cyclical to predictive and intelligence-driven maintenance schedules, and establishing real-time monitoring of assets at both strategic and operational levels to gain a holistic view of their performance. This article discusses SAP Intelligent Asset Management (IAM), a comprehensive suite of cloud-based solutions by SAP that offers a complete, all-encompassing view of assets throughout the supply chain, and leverages SAP's deep knowledge in operational asset management via the SAP Plant Maintenance module.
3 minute read
Uncovering the Hidden Gems – Functionality in EAM, You don’t Know You Have from EAM 2022Apr 18, 2023 — SAP is continually improving their content. One of the SAP programs where improvements are identified is from the SAP Customer Influence/connect program. The thing is, does the average user know what this program has delivered? Probably not. In this presentation we will look at some of new Business Functionality delivered by this program throughout the different enhancement packs to S/4 Version 2021. The final part is the answer to the main question that will be asked ‘What do I communicate to the IT Team to action and deploy these changes?’
1 minute read
SAP Asset Performance Management for Circular ManufacturingMar 7, 2023 — The manufacturing industry is a major contributor to carbon emissions, accounting for around 20 percent of global emissions. These emissions are primarily caused by energy usage during the manufacturing process. However, new approaches to designing, producing, and disposing of goods can reduce waste by eliminating it from products and processes, as well as by recycling or recovering materials. With technology and data analysis, achieving these goals is now more feasible than ever before. While artificial intelligence (AI) has received much attention in recent years, one of the most significant opportunities for its application is in manufacturing. By leveraging AI-powered solutions like SAP Asset Performance Management, companies can successfully transition to a circular manufacturing model. This article will explore how condition based maintenance.
4 minute read
Why Asset Management Is Key to SustainabilityDec 22, 2022 — Using integrated systems for Asset Management provides an unprecedented opportunity to balance
performance, cost, and risk in a way that leads to optimal outcomes promoting Sustainability.
This requires full integration between Information Technology and Operational Technology, enabling a true, virtually distributed, continuously updated Digital Twin.
Read this whitepaper to discover how solutions from the SAP Intelligent Asset Management portfolio, complemented by third-party products and services, can turn this vision into reality.
1 minute read
Understanding the Current and Future State of Supply ChainsNov 10, 2022 — Organizations need to understand the state of supply chains to detect bottlenecks, detect root cases and determine priorities. But the everchanging dynamics of planning, sales orders and inventory are constantly changing making it difficult. It's important to know the current and future status of your supply chain to improve your supply chain KPIs. In this practical webinar we will provide specific steps and advice to help you utilize operational reporting that puts context to your SAP data and help you create a stronger supply chain. You will learn how to:
Identify and reduce excess stock
Detect over-planned purchasing and production
Measure and improve your SAP data quality
Quickly view open sales orders to predict and prevent future backorders
Create dashboards to measure supply chain KPIs
1 minute read
How to Automate Complex SAP Processes in SAP ECC and SAP S/4HANAApr 26, 2022 — A common question for businesses is how to effectively conquer slow and error prone process of managing complicated data with SAP. Even with advanced capabilities such as the HANA database and Fiori, the processes you use to run your business continue to present challenges and human error. One-way companies are overcoming these challenges is through […]
1 minute read
Discover SAP’s Approach to Intelligent Asset Management: The Convergence of EAM and APMJan 21, 2021 — Please join us to understand how SAP supports your Industry 4.0 initiatives through the Intelligent Asset Management portfolio. Many companies historically have managed their equipment maintenance and work management processes through Enterprise Asset Management (EAM) systems. Today those processes and systems have grown, matching customer needs which have moved beyond solely managing the maintenance of their assets, to managing the entire lifecycle of those assets. To accomplish this, Asset Performance Management (APM) processes and systems are equally important. In this session, we’ll explore the convergence of these two sets of processes, including required business capabilities and how SAP has built an integrated portfolio to allow customers to satisfy your asset lifecycle management needs.
1 minute read
Take Asset Management Planning to the Next LevelMar 8, 2017 —
The requirements of ISO 55000 are growing increasingly important for organizations whose health depends on the health of their assets. They’re recognizing more and more that asset management is not just about keeping up with asset maintenance; rather, it’s about balancing cost, risk, and performance in order to tie asset strategy to the company’s overarching objectives. Discover how you can bring this advanced and strategic view of asset management to your organization.
3 minute read