The Acronym Architecture Series
Article Five: EAM (Enterprise Asset Management)
Lab software products are often identified by acronyms meant to differentiate them from one another, but the sheer volume of software available can leave decision-makers feeling confused and overwhelmed about what tools are truly required to be modern, compliant and efficient.
In the last edition of this informational series, we examined ELNs (Electronic Lab Notebooks). This week, we’ll examine EAM software (Enterprise Asset Management).
EAM (Enterprise Asset Management)
In both research and manufacturing environments, Enterprise Asset Management (EAM) software platforms offer a digital solution for managing the maintenance and quality control of physical assets used in the operation. Originating as an extension of computerized maintenance management systems (CMMS), EAMs are designed to optimize utilization and functionality for assets by tracking their entire lifecycle from induction to repair to end-of-life. In doing so, efficiency is enhanced, and costs related to the asset such as parts, repairs, and maintenance are minimized before the asset must be replaced or phased out.
Having an EAM creates total visibility and allows an organization to tie in everything related to the asset from maintenance planning to parts inventory to environmental health and safety goals. Modern EAMs also utilize AI and advanced analytics to create predictive models for asset health and therefore maximum efficiency and optimization. Features and functions include:
- Asset usage and performance
- Preventative maintenance planning and scheduling
- Parts, inventory, and materials management
- Work order management
- Warranty and service contract documentation
- Analytics dashboards and reports
- Asset tracking and history
- Inventory valuation
By providing facilities personnel with these features, EAMs offer a centralized platform for optimizing asset utilization. With a digital solution, organizational efficiency is greatly enhanced as is visibility, and the costs saved via preventative and predictive maintenance scheduling easily justify the expense of implementation for the platform.
With an EAM, you can expect to capture the following benefits:
- Improved quality and reliability of assets
- Repair and maintenance savings thanks to preventative and predictive maintenance
- Reduced risk for asset failure and therefore downtime
- Visibility into materials inventory to prevent redundant purchasing as well as supply chain management
- Centralized asset information for global visibility and accessibility
- Automated asset workflows for improved efficiency and reduced error
- Reduced health and safety risk via incident analysis, corrective action traceability and chance management of process
To learn more about digitization strategies and how they might benefit your laboratory, contact the Qualer team.
Up next in this series: Building Management Systems (BMS)