Enterprise asset management (EAM) combines systems, services, and
software to control assets and equipment. The goal is to optimize the
utilization of assets for better productivity and cost management.
“Enterprise” refers to the assets across departments that support the
bottom line for functions like procurement, inventory, and HR.
Ideally, EAM optimizes asset management through the lifecycle,
manages productivity, and reduces the operational bottom line. The
purpose is to get a larger picture of goals and objectives by accounting
for worker skills, HR tasks, and asset information. EAM typically
involves asset maintenance, supply chain management, and work
While EAM and computerized maintenance management systems (CMMS) tend
to be associated, they’re functionally different in their centralized
approach to the maintenance management process. EAM manages assets and
supports their performance from beginning to end, including work orders, inventory, associated documentation, and possible maintenance.
Devices connected through the Internet of Things (IoT), like sensors,
vehicles, and machines, can help with the incorporation of analytics
and artificial intelligence (AI) systems into EAM. This helps with the
gathering of insights for better practices, informed decisions, better
efficiency, and effective preventative maintenance.