Definition - What does Enterprise Asset Management (EAM) mean?
Enterprise Asset Management (EAM) is the management of the assets of an enterprise across departments, facilities, business units and geographical locations. EAM integrates techniques for holistic control and optimization throughout asset life cycles, including design, commissioning, operations and replacement.
Digital asset (electronic media and content) management
Fixed asset management and accounting
Emerging asset management
The EAM framework optimizes and extends asset life cycles and reduces Total Cost of Ownership (TCO) while maximizing Overall Asset Productivity (OAP) and Return on Assets (ROA), which is key for manufacturing and similar industries with high-value equipment.
In summary, EAM is geared toward the following results:
Reduced costs and risks
Improved asset decision making
Compliance with required regulations
Increased asset service responses and enhanced efficiency