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Upgrade Your Regular Asset Management with Dynamics 365 EAM

Tech Falcon
Published on February 23, 2022

Enterprise Asset Management (EAM) combines software, systems, and services to help maintain, control and optimize the quality of operational assets throughout their lifecycles. Enterprise asset management is a completely integrated set of functions that helps your business manage every aspect of owning, using and sustaining assets, as opposed to fixed asset management, which focuses solely on helping you manage the financial side of assets. D365 can provide you with exceptional visibility, control, and efficiency throughout the full equipment lifecycle, from asset construction and installation through preventative maintenance and long-term degradation and planning. It can help your business to avoid expensive breakdowns and improve the efficiency of mobile and field-based employees. The solution simplifies users' life and improves predictability and resource efficiency by reducing paper-based administration. You can plan and schedule work orders efficiently, back-flush parts and labor, automate quality check creation, and keep track of service delivery progress and inventory.

What Are the Features of An EAM Solution?

Dynamics 365 Asset Management, a module within Dynamics 365 for Finance and Operations, provides critical visibility into equipment maintenance requirements and operations. Maintenance requests are one of the key areas where Dynamics 365 can help streamline procedures. The goal of asset management software is to collect data and use it to improve asset operations and make better business decisions regarding your assets. You can also utilize EAM software to streamline your maintenance procedures by automating error-prone and time-consuming tasks. Let’s take a closer look at the benefits that Dynamics 365 Asset Management delivers.

Elevate Your Asset Management with Dynamics 365 EAM- Tech Falcon

Dynamics 365 EAM

  • Work management

You can centrally manage planned and unplanned work and receive real-time updates on the progress. You can assign and follow the progression of work from the centralized unit without any hassle.

  • Cost and Revenue Management

You may examine and enhance your cost-to-revenue ratio generally, or at the level of functional locations or service objects, using the solution's extensive analytics capabilities.

  • Supply chain management

The supply chain includes assets and the materials necessary to maintain them. Track and analyze your asset, all through the supply chain in different locations. IoT technologies that connect EAM with supply chain management systems should be included ineffective solutions.

  • Integrated Field Service

To guarantee that field service managers and workers have all the information they need about tasks, assets, components, timeframes, and process stages, you can connect field service management directly to asset management.

  • Preventive Maintenance

Preventive maintenance is estimated ahead of time using actual data entered into the system. This allows you to plan maintenance work ahead of time and on your own time. Data is gathered in a calendar that serves as the foundation for a work order based on a schedule. Ad hoc work orders can be prepared and placed into the existing schedule when equipment needs to be repaired rapidly.

5 Reasons Why EAM Is Necessary

  1. Asset information and history

Assets are valuable pieces of property or equipment that are critical to an organization's operations. The goal of asset management is to keep assets in good working order for as long as possible. By having all of an asset's information at your fingertips, including historical maintenance history, anticipated downtime, and other critical information, organizations can optimize asset performance and reduce expenses by preventing unscheduled repairs. With an EAM system, organizations can track the entire lifecycle of their assets, from acquisition to retirement, and ensure that they are maintained properly throughout their useful life. By proactively managing assets, organizations can minimize downtime, extend asset lifecycles, and reduce maintenance and repair costs, resulting in improved operational efficiency and profitability.

  1. Ability to schedule and perform maintenance requests and repairs

Without an EAM system, managing equipment maintenance can be a time-consuming and disorganized process. Businesses may have to sort through multiple communication channels, such as emails, spreadsheets, papers, voicemails, and notes from various employees reporting equipment problems. This can lead to delays in addressing maintenance needs and can result in costly downtime for assets. An EAM system provides a centralized platform where incoming maintenance requests can be quickly assessed, prioritized, and scheduled for maintenance fixes. This streamlines the process of managing maintenance requests and ensures that critical equipment issues are addressed in a timely and efficient manner. By providing a one-stop-shop for equipment maintenance, EAM systems can help businesses optimize asset performance and minimize downtime.

  1. Maintenance plans

AEM, or Asset Management System, streamlines the task of assessing maintenance needs for your assets. With AEM, you can quickly and easily review the history of maintenance on your assets, as well as schedule future maintenance needs. This ensures that your assets are maintained properly and on schedule, reducing downtime and extending their lifespan. AEM also allows you to track the costs of maintenance, providing you with an accurate picture of your asset management expenses. By using AEM, you can stay on top of your asset maintenance requirements, ensuring that your equipment is always in good working order and ready for use when you need it.

  1. Track maintenance costs

Keeping track of maintenance-related data, including expenses, is crucial for organizations to optimize their asset management strategy. With this information, organizations can budget for future planned equipment maintenance and understand the costs associated with maintenance. By tracking past costs for specific assets, organizations can identify areas where they can reduce maintenance expenses and improve asset performance. Additionally, by having a clear understanding of maintenance costs, organizations can make more informed decisions about asset retirement and replacement, balancing the costs of maintenance against the benefits of continued use. Overall, effective management of maintenance-related data is essential for organizations to keep assets in top shape and minimize the costs associated with asset management.

  1. Performance metrics

An EAM, or Enterprise Asset Management, solution provides an integrated approach to managing your assets, which includes essential performance parameters and asset information that can be accessed instantly. With this information at your fingertips, you can plan ahead and prevent costly scheduled repairs that can negatively impact production and meeting client requests. EAM solutions offer real-time visibility into asset performance, allowing you to optimize maintenance schedules and improve overall asset availability. By minimizing downtime and maximizing asset uptime, you can meet client requests more efficiently and effectively, while also reducing operational costs. Overall, an EAM solution is critical to ensuring that your assets are well-managed and optimized for maximum performance.

 A Must-Have Business Solution

Many firms still use Excel and comparable programs for maintenance, but an enterprise asset management solution could be the next step toward a more robust, streamlined approach. Furthermore, many businesses are unaware of maintenance expenditures and may be unable to dig down specific asset information. Because some maintenance components are expensed across a huge MRO inventory, a corporation or organization may not have clear facts about which parts are meant for which assets. It's also crucial to keep track of how much time staff devotes to asset repair and maintenance. At the end of the day, an enterprise asset management solution is a tool for identifying new areas where you can improve.