How to achieve a 360-degree view of your asset management performance

    Paul Smitherman |

    As a Technical Asset Manager, you have responsibility for the management of your organisation’s asset portfolio. These responsibilities usually cover many areas, from overall portfolio management and health monitoring through to controlling maintenance costs and maximising availability and providing insight to the schedulers and planners.

    You may already be managing the assets using predictive maintenance software and tools as well as IoT data from sensor technology. If not, you’re probably familiar with these but maybe you’ve had concerns about the cost and complexity of implementation.

    Without IoT processes in place as well as the right software tools and a centralised assets database, it will be very hard to optimise your assets, manage their availability, link to failure and causes and control maintenance costs.

    SAP’s portfolio contains a range of solutions to help with asset performance, including the recently launched RISE with SAP, but choosing which way to go can be overwhelming and complex, particularly for mid-sized organisations. And although RISE with SAP comes with SAP Asset Intelligence Network, the reality is that it’s an introductory module and to benefit fully, you’d need the extended version.

    Here we look at how you can improve your asset portfolio without considerable investment.

    Combine data from your ERP and IoT sensors for a 360-degree view

    Your ERP data alone provides a limited view on your assets, such as the cost of an asset or any maintenance work that may have been carried out. Using stand-alone ERP data to monitor the performance of your assets would involve running a series of transactions to understand what is happening.

    Further insight into your assets and optimisation of their availability and efficiency is best achieved with the addition of sensors, which can provide lots of detail through algorithms for things like temperature or humidity levels, actual location, resonance and so on. But if you searched IoT data readings separately to your ERP data, you’d need to deploy the SAP Business Technology Platform with its technical screens to make sense of the information.

    To meet the needs of the Technical Asset Manager, we’ve developed an Asset Dashboard specifically so you can combine the data from your ERP and your IoT sensor readings from any SAP backend solution. This integrated approach allows you to view assets via one dashboard and means there’s no need for large product implementations.

    How does the Asset Dashboard work?

    The combined data is displayed on the main cockpit screen showing the Overall Equipment Efficiency, and at-a-glance, stats such as maintenance costs, assets under repair, assets by type and so on. Drilling down further goes into more detailed data about asset types, maintenance required or repairs. The IoT data readings, once you have sensors implemented, will measure the health of your assets on an ongoing basis.

    The dashboard gives you a combined view of the status of your assets and lets you set parameters such as temperature thresholds and monitor KPIs for efficiency and effectiveness. You’ll get in-depth analysis of technical data and operational data all in one place, helping you to produce maintenance and repair strategies more easily and quickly.

    The Asset Dashboard gives all the information you need on one simplified platform where you can monitor all aspects of your assets and act and respond as needs change.

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