In today’s fast-paced business landscape, managing assets efficiently is crucial in optimizing operations and maintaining a competitive edge. Traditional asset management approaches often fall short for organizations with complex asset portfolios spanning multiple locations and industries.
Recognizing this challenge, Oracle Corporation, a global leader in enterprise software solutions, created Oracle Enterprise Asset Management (eAM), a comprehensive platform designed to streamline asset management processes, maintain asset health, and drive operational excellence.
Read on to learn more about Oracle eAM and where our senior-level Oracle consultants can fit into your organization.
What is Oracle eAM?
Oracle Enterprise Asset Management (eAM), delivered by Oracle’s E-Business Suite, allows organizations to generate and implement maintenance processes for assets and rebuildable inventory objects by providing users with the appropriate tools.
Maintenance procedures are key elements of an organization’s asset lifecycle management plan, allowing customers to optimize asset utilization. With eAM, users can plan maintenance tasks without interrupting existing processes or requiring unnecessary downtime. The eAM module also tracks and manages work history, enhances maintenance quality, improves efficiency, and tracks maintenance costs across the enterprise lifecycle.
Oracle’s intelligent eAM functionality also makes creating preventive maintenance schedules and actively monitoring an asset’s operating status easier. eAM keeps tabs on asset performance by using quality plans, meters, and condition monitoring systems and enabling users to create alternative maintenance strategies for complex capacity changes.
The extensive maintenance capabilities of eAM technology support asset lifecycle strategies for Manufacturing, Petrochemicals, Facilities, Education, Pulp and Paper, Metals and Mining, and other asset-intensive industries. By allowing businesses to manage reactive, scheduled, and effective preventive maintenance strategies and adopt a unified, proactive strategy for managing asset maintenance throughout a company, eAM reduces the need for spreadsheets and disjointed data repositories.
eAM allows organizations to:
- Implement maintenance procedures for physical assets
- Enhance resource and scheduling efficiencies
- Integrate with Oracle’s E-Business Suite
- Improve resource accessibility
Key Features of Oracle eAM
- Modify asset numbers without altering history and attributes
- Enable adaptable asset creation, including manual, template, and open interface/business API processes
- Plan GIS and Maintenance assets
- Conduct efficient asset check-in and out
- Connect production equipment with assets
- Create user-specific asset process logs
- Support total asset management, including internal inventory locations, external physical locations, user-defines areas, and more
- Connect Secure Asset and Property operations to Maintenance Assets
- Improve production planning and minimize equipment downtime
- Initiate comprehensive asset movement and transfers, conserving asset quality integrity, maintenance history, and plans
Key Benefits of Oracle eAM
- Replace expensive maintenance systems with Oracle’s fully integrated landscape
- Enhance asset tracking, visibility, and control with a unified global asset archive
- Leverage best practices to improve preventative and condition-based maintenance strategies
- Encourage users to maintain productivity from anywhere using: laptops, tablets, phones, or desktop devices
Top Functionalities of Oracle eAM
Asset Tracking with One Asset Archive
Asset lifecycle tracking has become a critical initiative for companies with large asset bases. A lack of data visibility and adequate asset updates often results in unnecessary equipment acquisitions, expensive asset-carrying costs, and excessive regulatory fees. Capital-intensive businesses require complete knowledge of their asset base, including its exact number, current value, location, and maintenance history, to properly plan, acquire, build, and deploy assets and execute maintenance tasks.
Oracle Enterprise Asset Management enables companies to define and manage all critical assets in one place. Users can define groups of assets of the same type by creating Asset Groups directly in their eAM platform. After creating the group, users can link common data to be inherited within each associated asset group.
Users can also store engineered specs and nameplate data in various user-defined asset attributes to improve group visibility. In addition, the Asset Bill of Materials holds the parts list for a single asset or a collection of assets belonging to the same asset group. This way, when maintenance is due for a particular asset, users can quickly identify the required parts.
Efficient Asset Operations
With Oracle eAM, organizations can set up assets hierarchically and outline intuitive parent-child relationships to maintain efficient asset cost rollup and grouping procedures.
Oracle’s Asset Operations Management platform offers the following functionality:
- Asset operations log
- Reference documents and safety procedures
- Asset moves and transfers
- Asset check-in and check-out
- Meters
- Plans for quality collection and failure analysis
- Preventative and condition-based maintenance
Meters
Managers can decide how to maintain and use assets and rebuildable inventory items by gathering and analyzing critical asset facts in their Oracle eAM system. Intelligent metering capabilities allow operating conditions like oil pressure, vibrations, and temperature to be reported and connected to an asset or rebuildable inventory item. Oracle eAM also offers the functionality to define numerous asset meters. It allows the sharing of meters across multiple assets, enabling all related assets to receive an instant update whenever a meter’s reading changes.
Collection Plans
Oracle Quality and Oracle eAM work in tandem to define adaptable and customizable data collection procedures, including automatic responses and follow-up communication. Users can also create work orders and collection plans if the data collection process requires a condition separate from the bounds specified in the collection strategy, enabling more effective Reliability Centered Maintenance (RCM) strategies.
Preventive Maintenance (PM)
Building a library of preventative maintenance (PM) techniques involves regular maintenance tasks, lubrication, and inspection. Upon creation, PM processes are linked to resources and automatically scheduled as work orders based on specific list dates, time intervals, or meter readings. When a PM program is in place, an organization can operate more effectively and limit the number of unplanned equipment breakdowns.
Asset Visualization
Viewing the location of assets is essential for efficient work scheduling and planning in various contexts, such as maintenance and utility industries, where assets vary greatly. With Oracle eAM’s integration with Google Maps, ESRI, and Oracle Spatial’s web-based source map viewer, users can view assets and related work on a unified, highly visualized map. Intelligent map integration also allows starting work requests and orders, finding work on a map, and completing other fundamental execution activities.
Efficient Work Management
Oracle’s work management capabilities provide the foundation for all critical maintenance operations. They identify maintenance concerns through work requests and execute maintenance tasks through work orders.
In Oracle, users start a procedure by submitting a work request, alerting the maintenance supervisor to a problem, and requesting a fix. Once issues are identified, organizations can leverage Oracle Workflow to send job requests across the complete approval process. If maintenance work is necessary, a work order is created and accepted. While debriefing work orders aids in achieving efficient reporting for all transactions, the express work order feature simplifies submissions for follow-up work from the field to the system.
Linear Asset Management
Oracle eAM provides linear asset management functionality to meet the evolving needs of businesses across industries, including Oil and Gas (pipelines), Utilities (transmission and distribution lines), and the Public Sector (roadways, trains).
When generating linear assets in eAM, users can map an asset or segment to a GIS route or geometry, attach a linear reference method, and specify a linear asset segment. Linear asset attributes from GIS domains, such as properties and elements, can be associated with assets and used as reference details when planning and carrying out maintenance work.
Mobile Maintenance
With Oracle Mobile Maintenance for Oracle E-BusinessSuite, maintenance team members can view and perform maintenance tasks on the go. Mobile Maintenance app functionality on iOS and Android-based devices enables users to carry out the following operations:
- Finish assigned tasks, like issuing materials and charging for time
- Finalize work orders and operations
- View the location, meter readings, failures, and work history of assets
- Track asset meter readings
- Create basic work requests and work orders
- Gather data regarding the quality and inspection plans
Information Discovery
Oracle E-Business Suite or Information Discovery for Enterprise Asset Management users can easily find the data they need to address concerns and enable real-time decision-making. With Oracle Enterprise Asset Management Information Discovery, users can:
- Identify assets that fail frequently and assess their characteristics to determine underlying issues and maximize asset usage.
- Locate overloads and bottlenecks to optimize personnel assignments, schedule compliance initiatives, and decrease maintenance costs.
- Enhance work prioritization and supervisor productivity through greater insight into company assets, work orders, and maintenance tasks.
- Utilize improved insights into asset costs to enhance ‘Maintain’ vs. ‘Retain’ decision-making.
Integrating with Other Oracle Application Products
Oracle Enterprise Asset Management directly integrates with the following products:
- Oracle Manufacturing
- Oracle Purchasing
- Oracle Property Management
- Oracle Quality
- Oracle Inventory
- Oracle Human Resources
- Oracle Financials
- Oracle Fixed Assets
- Oracle Projects
These integrations allow users to strategically track cost and resource planning throughout the enterprise asset lifecycle. Customers can ensure compliance with industry regulations by evaluating critical enhancement initiatives and tracking issues from identification to resolution.
Oracle eAM enables key stakeholders to view inventory goods, equipment, and qualified individuals, ensuring a well-planned maintenance environment and facilitating more efficient resource utilization.
With a comprehensive enterprise solution like eAM, users can plan maintenance tasks to limit operational disruption and examine resource availability for critical business assets.
Necessary Products
The following products must be installed to deploy Enterprise Asset Management:
- Oracle Bills of Material
- Oracle Inventory
- Oracle Work In Process
- Oracle Manufacturing Scheduling
- Oracle Cost Management
- Oracle Human Resources
- Oracle Quality
Optional Products
Although not necessary for Enterprise Asset Management implementation, the following items contribute to a strong eAM solution:
- Oracle Financials
- Oracle Fixed Assets
- Oracle Master Scheduling/MRP
- Oracle Time and Labor
- Oracle Projects
- Oracle iProcurement
- Oracle Purchasing
- Oracle Order Management
- Oracle Project Manufacturing
- Oracle Property Management
How We Can Help
Whether you need help to improve your asset lifecycle management plan, navigating complex integrations with other Oracle products, or just getting started on your journey with Oracle, our team of experts at Surety Systems has you covered.
Our senior-level Oracle consultants have the functional expertise and skills to enhance your existing Oracle applications and optimize efficiency and performance across your entire Oracle landscape.
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