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.