How do you start your morning? Brush your teeth to keep them sparkling white? A power packed workout session to keep that toned Torso?

Just like your body is your asset that keeps you going, and just like you maintain them properly to make sure that you shine through the day, an enterprise too, is all about maintaining your asset. Rather, it is all about juggling between assets and liabilities. You are liable for your assets but you can’t asset your liabilities. As part of your enterprise, you thus have to manage them properly. Proper management may turn liabilities into assets, else your assets will be rendered as liabilities. A successful enterprise will handle it properly with current vision and feasible strategy.

EAM optimizes the entire life cycle of physical assets of an organization. It covers the end-to-end orchestration of all pertinent processes like design, construction, commissioning, operations, maintenance and decommissioning or replacement of plant, equipment and facilities. EAM processes span across across departments, locations, facilities and, potentially, business units.

Out there, you’ll  find many tools, technologies and systems to make you asset management easier, cut to your specific need. Lets take an example.

Maximo

What is it?

MRO Software, the provider of Maximo, was acquired by IBM in August 2006. Maximo is a strategic asset management system that runs on a number of databases including Oracle, SQL Server and IBM DB2.

This powerful tool helps automate all aspects of maintenance operations, including equipment history, scheduling, preventive maintenance, work orders, labor and expense tracking, procurement and reporting. With MAXIMO, organizations of all sizes reduce equipment downtime, closely control and track maintenance expenses, cut spare parts inventories and costs, improve safety, increase purchasing efficiency, and more effectively deploy productive assets, personnel and other resources

Who uses it?

It is used by a wide variety of organizations cutting across various industries ranging from municipal and county governments to corporations, from government contractors to Corporate firms, from Oil and Gas companies to Pharmaceuticals, from Chemical Manufacturers to software firms, from Nuclear energy firms to FMCG companies and so on.

What is the Business Value?

Maximo unifies comprehensive asset life cycle and maintenance management on a single platform. This asset management software provides insight for all of enterprise assets, their conditions and work processes, for better planning and control.

..and the Innovation?

  • It aligns service levels with business objectives by defining service offerings and establishing service level agreements (SLAs).
  • It adapts to changing business requirements and connects with other enterprise systems through a flexible business process configuration platform and scalable service oriented architecture.

We will delve further into the topic in the next episode. Till then, if you have any question, please feel free to drop a mail at support@ITLatte.com, and I shall be happy to help you! 🙂

At the end, it is your liability to asset your assets. Happy Learning!

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