In an environment of aggressive market competitiveness and corporate downsizing, industry is searching for solutions to help operations & maintenance personnel achieve maximum plant capacity at minimum cost while operating within acceptable risk margins.

Reading this you may ask yourself: Why do I need an IAM solution when I already have an EAM/CMMS and an asset management department?

According to an ARC report “Less than 10% of Enterprise Asset Management (EAM) system users have done more than automate their existing work processes.” In this situation, plant-floor data gathered by maintenance repair and operations departments doesn’t go beyond the plant floor to support enterprise-level decisions. Most of the time the data is gathered manually and is imported into an excel spreadsheet. The reason why the data is not correlated with the corporate KPI’s is that EAM is only part of the overall solution, and must be integrated with plant automation, market environment drivers, and supply chain management into a larger knowledge-based solution before the real benefits are realized.

By implementing an Intelligent Asset Management solution you will gain the following benefits:

• Risk analysis-based recommendations regarding plant O&M activities within a known market demand, asset condition, and product fulfillment environment
• Access to real-time information that will allow you to keep lower spare parts inventories, wining the spare parts inventory/dollars balance game
• Real-time visibility across the value chain where the decisions can be made based on accurate demand and supply information
• “What-if” analyses relevant to single plant or fleet of assets
• Real-time notification alerts providing recommended solutions
• Increased planning horizon through access to the right decision support information to manage the maintenance process planning
• Reduced unscheduled outages and the length of scheduled outages
• Improved process yield
• Deliver user profile –based dashboards
• Strategy validation and continuous improvement
• Safety compliance and improved environmental compliance