Smart Maintenance Extends the Scope of Enterprise Asset Management

Executive Overview

Industrial organizations typically use either enterprise asset management (EAM) or field service management (FSM) software to manage maintenance labor and materials and optimize work order schedules.  Smart maintenance approaches extend the scope of the EAM and FSM software to include real-time information from the assets.  With well-managed business processes, the maintenance or repairs are performed on equipment when needed and before degradation occurs.  These critical business processes include condition monitoring, predictive maintenance, managing alerts, and converting high priority alerts into work orders to execute the appropriate inspection, maintenance activity, or repair. 

In contrast, ad hoc or manual methods for managing alerts and the related business processes have proved to be problematic.  Alerts get lost, and equipment fails as predicted.

Smart maintenance improves common maintenance metrics like uptime, mean-time-between-failures (MTBF), mean-time-to-repair (MTTR), and cost control.  It also improves executive metrics like revenue, inventory and return on assets (ROA). 

Smart Maintenance Scope

This report defines the scope of smart maintenance, illustrates its benefits, and provides three user case stories.  Key findings include:

• End users should include predictive maintenance services in their equipment selection criteria, particularly for new critical equipment
• For the critical equipment already installed, end users should select an IIoT platform and develop predictive maintenance applications using data from a particular machine or group of machines (“small data”)
• OEMs should rapidly adopt predictive maintenance services using IIoT
• Equipment suppliers should assess their capabilities to manage and execute field service throughout the business process of alert generation, internal call centers, dealers, and independent service providers 

Table of Contents

• Executive Overview
• Smart Maintenance Extends EAM/CMMS and FSM
• Asset Management Case Stories
• Recommendations

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