Definition or Meaning- What is SAP EAM (Enterprise Asset Management)?
Full form or SAP EAM stands for (Enterprise Asset Management), refers to those techniques of management that maximize the value of the physical assets for an organization and bring about optimal performances in their life-cycle. It includes the handling of those processes of an organization that are directly linked with construction, design, operations, commissioning, maintenance, replacement or decommissioning of plant, facilities and equipment.
Importance of Enterprise Asset Management (EAM)
In the contemporary scenario, enterprises integrate smart SAP EAM tools and techniques across departments, units of business, facilities and locations. With the proper strategies and management ideas in place, they are gaining natural and real time visibility into the usage of asserts - thereby bringing about improvements in the optimum levels of returns from them and going a step further in deferring new purchases. The popularity of this effective SAP EAM (Enterprise Asset Management) sub module is increasing with each passing day and showcasing its support across a wide range of industries like manufacturing, life sciences, health care, oil and gas, transportations and so on.
Providing adequate control and visibility over the critical assets that affect risk, compliances and business performances, Enterprise Asset Management is fast becoming an indispensible SAP component for organizations globally.