Enterprise asset management for material handling equipment: 8 steps to a more strategic approach

March 22, 2018
A new article in Industrial Maintenance & Plant Operation (IMPO) magazine suggests an eight-step approach to a more integrated enterprise asset management (EAM) strategy for big, complex material handling equipment.

The eight steps include:

  1. Understanding the basics that have guided equipment maintenance practice for decades, including employee training, visual inspection, and following the original equipment manufacturer’s instructions—all tried and true techniques for getting maintenance logistics and costs under control
  2. Recognizing that the world has changed, at a time when the state of the art in asset management has been totally transformed in the last three to five years
  3. Setting high-performance expectations for material handling equipment that is critical to your company’s competitive posture in a tough manufacturing marketplace
  4. Benchmarking the performance of your equipment maintenance operations, while recognizing that a disappointing result at this stage is almost to be expected: “If the benchmarking shows no room for improvement, you haven’t set high enough goals”
  5. Mapping the chokepoints in your existing processes, whether they have to do with specific pieces of critical equipment or legacy maintenance practices that rely on visual inspections and paper-based systems
  6. Learning what’s available to you with the evolution of modern, cloud-based EAM solutions
  7. Calculating the costs and benefits of a shift to cloud-based EAM
  8. Recognizing the system benefits of a best-in-class EAM solution that meshes easily with your company’s ERP, giving management a 360° view of physical asset condition while integrating with mobile and tablet devices to optimize technicians’ job performance

“Today’s modern EAM solutions allow better coordination of preventive and predictive maintenance, using sophisticated sensors and Industrial Internet of Things (IIOT) technology to spot subtle changes in performance before they’re obvious by physical inspection,” the article notes. “EAM requires an up-front investment of time, money, and attention,” but “it pays off in dollar savings on equipment maintenance and measurable improvements in system performance.”

Read “8 Steps to Modernize Your Asset Management Plan for Material Handling Equipment.”

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