EAM is very tedious and work-intensive. Asset management is a procedure that all organizations have to undertake. This process is usually performed with outdated practises, such as paperwork orders and spreadsheets. This, however, is not reliable and efficient in today’s fast-moving world. The costly and inefficient manual processes are a thing of the past. Industries seek better ways to manage their EAM with increasing data needs.
Enterprise asset management has been revolutionized by SAP. EAM has become an easy-to-use and extremely efficient mobile application instead of the conventional long, tedious and labor-intensive process. The days wherein manual EAM produced inaccurately, and difficult-to-keep data are over. Mobile devices now substitute spreadsheets and paperwork orders. Here are a few ways how SAP Enterprise Asset Management can be beneficial to your business:
Improve Wrench Time
Wrench time is a measure of how long employees in the industry use tools while doing a job. For most enterprises, this number is relatively low. This can be increased by good planning and a strong EAM strategy. What is the advantage of more wrenching time? Most facilities have an average time of approximately 25-30% of this figure is increased to 50%, it means the same employee delivers twice as much work in the same amount of time. Better asset management would cut down on downtime of equipment while ensuring optimal use of the available workforce.
Collection of Real-Time Data
The days when any recorded data was based on a manual worker who entered it in a spreadsheet or paper order have passed. Wherever a job is done, mobile devices can be used. This allows companies to collect and access information in real-time throughout their entire facility. Mobilizing EAM will also improve data access employing biometric authentication, and ensure full privacy. Many devices support the glove mode, which makes the use of a mobile device very comfortable and ergonomic. After an analysis of inventory data, parts can also be ordered directly from the device.
Improvement of Assets
Suitable EAM strategies and an extensive plan can help speed up the revenue generated by your assets and increase their life expectancy and reliability. The most significant influence of poorly performed EAM is low labour productivity and heavy equipment downtimes. The use of a mobile solution ensures a substantial decrease in downtimes. Good EAM makes it possible to eliminate overhead costs while ensuring maximum employee productivity. If the assets are properly managed, capital expenditure can be transformed into operative investments. Your current budget is worth more than you’ll ever imagine! All that’s missing is the right approach towards asset management.
The best decision any industry can make is to digitize data. This makes your data imperishable on multiple devices while ensuring that it remains easily accessible. Specific individuals may be permitted to view or collect data based on the company’s hierarchy. When data is available on a need-to-know basis, the need for prints, extensive paperwork, and file handling is completely eliminated. The need for comprehensive data privacy security measures is also met by using reliable features such as fingerprint authentication and facial recognition. It ensures that only the people that are allowed to view the data have access to it.
The market now has several tools that industry professionals have already reviewed and tested. It is time to get rid of the doubt and adapt to the new way companies are using to manage their assets. The biggest mistake made by organizations is to ignore the value of consistently using best the methods to maintain their industry’s performance, EAM never goes out of trend!