When you’re managing a large portfolio of physical assets, your ability to achieve long-term and sustainable success depends on fundamental building blocks:
Practices, Processes, and Procedures
Master Data and Coding Structures
Naming Conventions and Taxonomies
Policies, Strategies, and Objectives
Roles and Responsibilities
Key Performance Indicators
Collectively, these building blocks form a model for how your organization manages its physical assets.
This model is the foundation for your asset management operation.
Build a model for enterprise asset management.
An asset management model (sometimes called a “management system” or “regime”) consists of documented standards that formalize how maintenance, MRO storeroom, and procurement operations execute their work – and how they work together – across the enterprise. By standardizing and coordinating activities, a model ensures that a business can deliver on its asset management goals. These goals may include:
Generating rich, reliable EAM/CMMS information.
Lowering MRO costs and increasing ROA.
Improving maintenance productivity and efficiency.