Today all asset-intensive industries face disruptive challenges from changing business models and higher cost pressures. However, the essentials of asset management have not changed. Companies still need to balance cost, risk, and performance, and now in accordance with evolving regulations.
The wave of change has come from the assets themselves, particularly the massive amounts of data they are producing. This data provides real insight into the performance and health of your heavy assets, but the challenge is having the right technology and process to be able to capitalize on the information.
Conventional maintenance management systems and processes are not enough. Asset Management teams need ways to turn that Big Data into usable information, as well as enable information transparency throughout the entire asset lifecycle and within the ecosystem of operators, equipment manufacturers, and service providers.
SAP, for example, provides the tools to modernize your EAM approach. This allows your organization to develop an environment in which you can manage asset-related information and processes throughout the complete asset lifecycle. Greater knowledge of an asset will positively affect your business from the top down by reducing maintenance cost, increasing asset uptime, and lowering operational risk.
Learn More About Modernizing EAM
Vesta will be presenting more on this topic at the SAP Digital Supply Chain Info Day 2019 at Royal Maxim Palace in Cairo, Egypt on April 16. There, our experts will dive into how EAM has changed and what it takes from a technology standpoint to keep your processes updated and able to handle Big Data.
We’ll review the benefits of good asset management, go over best practices, while running you through the best model for managing the asset lifecycle. We’ll also touch on the SAP and Vesta products that can help you update EAM at your business.
Join us by registering here.