ERP Assets Overview

“asset management” is generically defined as work that focuses around the maintenance of a business’ fixed assets—things like manufacturing components, vehicles, plants, etc. Examples include replacing broken infrastructure on the manufacturing floor, determining a downtime schedule to inspect or completely replace components when their lives have been completed, and renovating or building new plants to increase production efficiency.

ERP has long been a part of the asset management space. This allowed users to perform inspections, preventative maintenance, and repairs

ERP Asset Management is providing organizations with the tools to create and implement maintenance procedures for both assets and rebuildable inventory items. Maintenance procedures are an integral part of an organization’s complete asset lifecycle management strategy, enabling an organization to optimize asset utilization. ERP enables users to optimally plan and schedule maintenance activities with minimal disruption to an organization’s operations or production. Importantly, it improves resource efficiency, enhances maintenance quality, tracks work history, and records all maintenance costs.

ERP tracks the performance of assets (including rebuildable, inventory items) using meters, quality plans, and condition monitoring systems. By effectively monitoring an asset’s operating condition, effective preventive maintenance strategies can be implemented. In addition to creating preventive maintenance schedules, users can create alternative maintenance strategies for seasonal or production capacity changes.

ERP comprehensive maintenance functionality supports asset lifecycle strategies for asset intensive industries, including Metals/Mining, and Education. ERP eliminates the need for spreadsheets and disparate data repositories, by enabling companies to manage reactive, planned, preventive maintenance, and adopt a centralized, proactive strategy for managing asset maintenance across an enterprise.
ERP enables an organization to do the following:

Create a preventive maintenance strategy

Maximize resource availability, including both equipment and labor

Optimize scheduling and resource efficiency

Integrate with ERP Products for enterprise-wide solutions

The following topics are included in this section:

Asset Management

ERP Work Management

An asset is an entity for which users can report problems. ERP provides the flexibility to address the many types of assets.

By first establishing asset groups, you can define assets and asset characteristics that can be inherited by the assets belonging to that group. Virtual assets can be designed to create a network of assets or routings. This combines several assets to a single work activity.

ERP enables you to quickly identify plants and facilities , You can view details of an asset, such as cost, hierarchal (parent/child) information, and launch transactions. You can also view current or historical configurations, and work details of an asset. As rotable, inventory items of an asset are removed from and reinstalled into an asset, the asset genealogy and parent/child meter readings are recorded automatically. Attributes, such as cost history, bills of material, and document attachments can be associated with a specific asset.

You can view the locations of assets by using the built-in integration of web-based source map viewers of Google Maps, Assets can be geocoded and then assets and work can be displayed in the map viewer based on user-entered search criteria.