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Maximo Asset Management: What’s in it for Your Operations?

Posted by Ian Uriarte

June 16, 2015

In today’s budget-sensitive world, asset management has a critical impact on the bottom line.

Tracking all the components of an organization’s physical assets is a huge task, but it’s essential for improving operational efficiencies and reducing costs. Just imagine what you could accomplish if you could easily monitor everything that’s happening with your organization’s physical assets.

An enterprise asset management (EAM) system gives you greater visibility into your organization’s assets, allowing you to better manage performance, risks and expenditures throughout the various components’ lifecycles, from initial request to eventual . For your physical assets — plant and production facilities, infrastructure components, transportation equipment, buildings and other properties — an EAM offers a way to more effectively and efficiently track, monitor and manage performance and usage.

Maximo is ideal for enterprises that operate on an IBM platform

Maximo Asset Management is an ideal EAM solution for enterprises that operate on an IBM platform. Using an integration framework (a set of configurable applications), Maximo Asset Management connects data across an enterprise, breaking down siloed systems and helping you standardize systems and unify processes. The software provides real-time visibility into all of a company’s physical assets, allowing you to track activity such as asset location, use and performance — valuable information for improving productivity and preventing loss while lowering maintenance and service costs. Maximo synchronizes and integrates data between internal and external applications, helping facilitate better communication with business units and customers outside the organization. This allows you to better manage components such as asset maintenance — including service contracts with external vendors — reducing your exposure to risk and enabling you to align your organization’s physical operations with its business needs and objectives.

As a solution for asset-intensive organizations, there are numerous benefits to using Maximo Asset Management. For example, in managing an organization’s physical structures such as office buildings or manufacturing plants, Maximo tracks critical information about maintenance, work orders, service requests and more to help plan preventive maintenance and repairs. For organizations with a fleet of vehicles, Maximo helps optimize routing and parts management, improves planned maintenance and extends the life of these assets. In manufacturing facilities, Maximo helps improve production efficiencies and manage maintenance, repair and operations (MRO) costs, for example, by monitoring equipment so that regular service or replacement is scheduled before the end of the machinery’s lifecycle.

Predict Equipment Performance, Avoid Downtime and Manage Asset Utilization

With the data you collect and monitor using Maximo, you can manage assets more proactively, which helps in predicting equipment performance and preventing costly downtime. Since it operates across multiple sites in your organization, Maximo also makes it easier to allocate resources by providing you visibility into asset utilization and availability. Better utilization of resources combined with scheduled maintenance lets you extend the value and lifecycle of assets, improving your organization’s return on investments.

Maximo uses an XML interface, supports popular protocols and bidirectional integration and operates on a synchronous and asynchronous message-exchange model. It readily integrates with nearly any other application in or impacting your organization.

With Maximo Asset Management, you’ll well on your way to improved asset performance, fewer business disruptions, better operational efficiencies and significant cost savings.