Enterprise Asset Management Components

Defining the best way to manage production assets is a key success factor in achieving any organizational objective. Enterprise Asset Management solutions focus on asset criticality, with respect to maintenance priority. If an asset is critical to maintaining production, should it have a higher frequency of preventative maintenance activities and a greater quantity of spare parts on hand? If an asset can be down for a set amount of time before it impacts production, should it have less? Would reducing the quantity (and cost) of spare parts on the shelf require an equal increase in preventative maintenance costs?

The answers to these questions and more help define an enterprise asset management strategy with the goal to optimize maintenance activities for the highest reliability at the lowest cost with attention to the acceptable risk determined by the organization. Enterprise Asset Management solutions offer guidance and tools to find those answers.