Some regions will recover more quickly due to government response and macro-economic trends.  Asia, with the exception of Japan, is leading the recovery.  North America, the largest regional market is expected to recover in 2010.  Western Europe and Japan are forecasted to experience a delayed recovery starting in late 2010 and early 2011.

“With the delay of major improvement projects do to the economy, extending the life of existing equipment becomes critical and requires good maintenance execution.  Also, with the improving economy and release of key projects, execution is more difficult with reduced resources.  Both factors are driving the need for a modern EAM system,” according to Ralph Rio, Research Director, (rrio@arcweb.com), the principal author of ARC’s “Enterprise Asset Management Solutions Worldwide Outlook” (www.arcweb.com/res/eam).

ERP Suppliers Continue to Penetrate EAM

The factors contributing to growth include some that are relevant to the difficult economy and others that are applicable to the recovery.  Capital improvement projects and upgrades are being delayed to conserve cash.  At the same time, managers cannot allow higher failure rates for the existing, aging equipment.  Also, there are safety issues that must be mitigated.  Extending the life of existing equipment requires good maintenance execution and a modern maintenance management system.  Also, the recession put increased pressure on maintenance managers to control costs.  Many companies are scrutinizing their maintenance costs and finding their EAM solutions are inadequate.  By improving their EAM system, they do more with less resources including people, MRO spend, and inventory.

Functions in Enterprise Asset Management

EAM has specific key areas of functionality required by maintenance organizations.  Asset Information Management (AIM) includes the processes and technology for organizing, creating, controlling, change management, and auditing of the information related to assets and equipment.  Work Order Management includes the creation, planning, scheduling, schedule optimization, execution, documentation, and tracking of activities.  MRO Materials Management includes the procurement and management of the needed materials.  Labor Management is related to needs assessment, training, certification, and scheduling of labor resources (internal employees and contractor personnel) related to the management of covered assets.  Service Contract Management includes the creation and management of contracts and service agreements.  Mobility includes the application functionality needed for a mobile workforce.  It is the bi-directional exchange, processing and presentation of information for EAM functional categories previously described.  Reporting & Analytics includes the functionality for the analysis of an asset and asset management performance.

For more information on this study, go to: www.arcweb.com/res/eam

About ARC:  Founded in 1986, ARC Advisory Group is the leading re-search and advisory firm for industry.  Our coverage of technology from business systems to product and asset lifecycle management, supply chain management, operations management, and automation systems makes us the go-to firm for business and IT executives around the world.  For the complex business issues facing organizations today, our analysts have the industry knowledge and first-hand experience to help our clients find the best answers.  Further information can be obtained from ARC Advisory Group, Three Allied Drive, Dedham, MA 02026 USA, 781-471-1000, Fax 781-471-1100, E-mail info@arcweb.com, Web www.arcweb.com

Upcoming Events

August 9 - August 11 2022

MaximoWorld 2022

View all Events
banner
80% of Reliabilityweb.com newsletter subscribers report finding something used to improve their jobs on a regular basis.
Subscribers get exclusive content. Just released...MRO Best Practices Special Report - a $399 value!
DOWNLOAD NOW
Harmonizing PMs

Maintenance reliability is, of course, an essential part of any successful business that wants to remain successful. It includes the three PMs: predictive, preventive and proactive maintenance.

How an Edge IoT Platform Increases Efficiency, Availability and Productivity

Within four years, more than 30 per cent of businesses and organizations will include edge computing in their cloud deployments to address bandwidth bottlenecks, reduce latency, and process data for decision support in real-time.

MaximoWorld 2022

The world's largest conference for IBM Maximo users, IBM Executives, IBM Maximo Partners and Services with Uptime Elements Reliability Framework and Asset Management System is being held Aug 8-11, 2022

6 Signs Your Maintenance Team Needs to Improve Its Safety Culture

When it comes to people and safety in industrial plants, maintenance teams are the ones who are most often in the line of fire and at risk for injury or death.

Making Asset Management Decisions: Caught Between the Push and the Pull

Most senior executives spend years climbing through the operational ranks. In the operational ranks, many transactional decisions are required each day.

Assume the Decision Maker Is Not Stupid to Make Your Communication More Powerful

Many make allowances for decision makers, saying some are “faking it until they make it.” However, this is the wrong default position to take when communicating with decision makers.

Ultrasound for Condition Monitoring and Acoustic Lubrication for Condition-Based Maintenance

With all the hype about acoustic lubrication instruments, you would think these instruments, once turned on, would do the job for you. Far from it!

Maintenance Costs as a Percent of Asset Replacement Value: A Useful Measure?

Someone recently asked for a benchmark for maintenance costs (MC) as a percent of asset replacement value (ARV) for chemical plants, or MC/ARV%.

OEM recommended maintenance plans

One-third of CEO Terrence O'Hanlon's colleagues think so - at least as a starting point. What do you have to say?