What is EAM?
As the acronym implies, EAM is used to manage assets in a company, which can be a module in an enterprise resource planning (ERP) solution or a standalone product. EAM is also known as computerized maintenance management system (CMMS), or computerized maintenance management information system (CIMMS), and it is a software package used to plan, control, and monitor assets from acquisition to obsolescence.
Who Needs EAM?
In order to understand who needs this type of system, the definition of “asset” is required. According tobusinessdictionary.com, an “asset” is defined as “something valuable that an entity owns, benefits from, or has use of, in generating income.” This means that people and know-how can also be considered assets, but EAM manages physical (or tangible) assets, such as vehicles, machinery, buildings, etc. There are exceptions when non-tangible assets are managed for industries such as IT or media.