Representative End User Clients
Representative Automation Clients
Representative Software Clients
IIoT with EAM Improves Financial Performance
A modern Enterprise Asset Management (EAM) system provides the needed visibility, planning and execution to achieve the key goals for assets which are uptime, asset longevity, cost control, and safety along with the executive needs for high return on assets (ROA). These goals directly affect C-suite objectives in the P&L statement and balance sheet for revenue, cash conservation, profitability, and risk management. The average age of assets continues to increase, requiring improved asset management to operate as designed while extending the service life of the asset.
Industrial IoT and Predictive Maintenance
Unplanned downtime interrupts production which negatively impacts a variety of KPIs and executive metrics. Predictive maintenance (PdM) is the “low hanging fruit” for Industrial Internet of Things (IIoT) applications, and a proven approach for improving uptime while reducing maintenance costs.
IIoT combined with analytics offers new approaches for asset health monitoring and PdM. A study by Shell showed that PdM reduces the cost of maintenance by 50 percent compared with preventive maintenance. Also, unplanned downtime is reduced with the identification and repair of a disturbance in the equipment before failure occurs.
Added Benefits Drives EAM Market Growth
IIoT with PdM provide additional economic benefit for EAM systems that will enhance future market growth. This increase in value of a modern EAM system is particularly effective with PDM/EAM integration and business process automation.
Most industrial organizations have critical equipment for which unplanned downtime disrupts operations. A small undetected problem can cascade into a much bigger issue – much like how failure to replace $25 for engine oil could lead to your car's engine seizing, requiring a $5,000 repair. Using equipment data to alarm and drive maintenance work (like the oil pressure light on a car’s dashboard) is a well-recognized concept.
Key EAM Functions
Asset lifecycle information management (ALIM) encompasses the data and documentation for each physical asset. ALIM includes the processes and technology for organizing, creating, controlling, managing change, and auditing the information related to assets and equipment.
Work order management covers the work performed or managed by employees, contractors, and a service organization. This includes the processes, technology, and access to information related to creating, planning, scheduling and schedule optimization, executing, documenting, and tracking their activities. Many use mobile devices to present work order-related information with bidirectional data exchange and processing with buffering when out of the network range.
MRO materials management includes the processes, technology, and information for material procurement and inventory management.
Labor management includes the processes and information related to skills assessment, training, and certification of labor resources (including both internal employees and contractor personnel) for asset management.
Service contract management includes the processes and information related to creating and managing contracts and service agreements.
Financial management functions include cost accounting, project costing, and integrating these functions with the finance system. The EAM system supports financial management by accumulating and assigning the various costs associated with work orders and their execution.
Reporting & Analytics includes the functionality analyzing assets and asset performance. This supports decision-making in real time – when it is most effective.
For more information on ARC's new EAM market outlook study, go to: www.arcweb.com/market-studies/pages/enterprise-asset-management.aspx.
A modern Enterprise Asset Management (EAM) system provides the needed visibility, planning and execution to achieve the key goals for assets which are uptime, asset longevity, cost control, and safety along with the executive needs for high return on assets (ROA). These goals directly affect C-suite objectives in the P&L statement and balance sheet for revenue, cash conservation, profitability, and risk management. The average age of assets continues to increase, requiring improved asset management to operate as designed while extending the service life of the asset. Industrial IoT and Predictive Maintenance
Unplanned downtime interrupts production which negatively impacts a variety of KPIs and executive metrics. Predictive maintenance (PdM) is the “low hanging fruit” for Industrial Internet of Things (IIoT) applications, and a proven approach for improving uptime while reducing maintenance costs.
IIoT combined with analytics offers new approaches for asset health monitoring and PdM. A study by Shell showed that PdM reduces the cost of maintenance by 50 percent compared with preventive maintenance. Also, unplanned downtime is reduced with the identification and repair of a disturbance in the equipment before failure occurs.
Added Benefits Drives EAM Market Growth
IIoT with PdM provide additional economic benefit for EAM systems that will enhance future market growth. This increase in value of a modern EAM system is particularly effective with PDM/EAM integration and business process automation.
Most industrial organizations have critical equipment for which unplanned downtime disrupts operations. A small undetected problem can cascade into a much bigger issue – much like how failure to replace $25 for engine oil could lead to your car's engine seizing, requiring a $5,000 repair. Using equipment data to alarm and drive maintenance work (like the oil pressure light on a car’s dashboard) is a well-recognized concept.
Key EAM Functions
Asset lifecycle information management (ALIM) encompasses the data and documentation for each physical asset. ALIM includes the processes and technology for organizing, creating, controlling, managing change, and auditing the information related to assets and equipment.
Work order management covers the work performed or managed by employees, contractors, and a service organization. This includes the processes, technology, and access to information related to creating, planning, scheduling and schedule optimization, executing, documenting, and tracking their activities. Many use mobile devices to present work order-related information with bidirectional data exchange and processing with buffering when out of the network range. MRO materials management includes the processes, technology, and information for material procurement and inventory management.
Labor management includes the processes and information related to skills assessment, training, and certification of labor resources (including both internal employees and contractor personnel) for asset management.
Service contract management includes the processes and information related to creating and managing contracts and service agreements.
Financial management functions include cost accounting, project costing, and integrating these functions with the finance system. The EAM system supports financial management by accumulating and assigning the various costs associated with work orders and their execution.
Reporting & Analytics includes the functionality analyzing assets and asset performance. This supports decision-making in real time – when it is most effective.
For more information on ARC's new EAM market outlook study, go to: www.arcweb.com/market-studies/pages/enterprise-asset-management.aspx.