Discover what possibilities are available with SAP for people involved in asset-intensive industries. We’ll also cover how 4.0 technologies such as IoT and predictive analytics are bringing previously unseen possibilities in maintenance, reliability and condition monitoring.
About Asset Management Challenges
You may be experiencing certain challenges in your asset management, such as:
- Inability to optimise your equipment utilisation for your maintenance needs
- Lack of real-time insight into your assets at any location and time
- Inaccurate and incomplete master data because disparate information on equipment and assets can’t be fully integrated
- Limited ability to provide your maintenance technicians with enough information to efficiently install, inspect, maintain and repair equipment in the field.
The digital opportunities in asset management that address these challenges and more are endless. Digitally smart supply chain and factory management will allow you to react quicker, predict more and adapt new business models to drive your business.
SAP tools for intelligent asset management
There are plenty of tools and solutions already available on the market that can help you specifically optimise your maintenance and field service. What you may not know is that SAP also has a lot to offer in terms of end-to-end business value. From Finance to R&D and Warehouse Management, its integration of IoT and predictive analytics means it’s now easier than ever to gain intelligent insight of all your business processes including your asset management.
SAP views asset management as requiring both transactional activity and intelligent insight. SAP S/4HANA is the newest generation of ERP offering automated processes and faster analytics to simplify and accelerate your business. Its digital core includes asset management capability such as maintenance planning and scheduling, maintenance execution and master data management. And when combined with SAP Leonardo, you can achieve predictive insights and analytics because it leverages intelligent technologies such as machine learning and IoT to transform your business models.
Imagine being able to define maintenance slots and planning for future labour and equipment demands. You can thanks to status alerts and highly reliable predictions of machine failure. The benefits are not only increased equipment uptime and cost saving, but also higher customer satisfaction through a better time to response and optimal longevity and performance.
Organisations at a more mature stage of IoT and Machine Learning might opt for the SAP Intelligent Asset Network, a collaborative asset management solution that brings key stakeholders together in a digital ecosystem solving complex execution, predictive and planning activities with centrally managed asset information. Most organisations however who are relatively new to these advanced technologies are advised to start small and grow steadily with an IoT toolkit towards becoming an intelligent enterprise.
Specific asset management tools
If you want to start small then our Ready4 Advanced Scheduling, using SAP technology, will ensure your company’s assets are carefully managed and kept in good shape with planning and scheduling tools, helping to lower production costs and increase profits.