Global EAM Software Market To Grow 6.45% Per Annum 2011-2015
Despite continuing market uncertainties, sales of enterprise asset management software applications are being driven by demand for enterprise-wide asset performance visibility says technology research company, TechNavio
Enterprise-wide visibility means more than just knowing what and where items are at certain points in time. Rather it means having deep, accurate and real-world insights into relationships, processes and trends that enable enterprises to make the kind of decisions that will shift their operations from reactive to predictive, even automated. However, with so much data dispersed across different systems, where does the journey start for business leaders needing visibility of their ‘things’ right across the enterprise?
It is Relegen’s view that enterprise asset management must begin with the global and unique identification of each and every thing that is important to an organisation. It enables organisations to identify an item and associate information with it, through a unique serial that stays with it, and on it, through its life. An identifier that is globally unique is the enabler for best practice asset knowledge management – or as we call it, asset intelligence.
Many industries are already embarking on unique item identification programs. The US Department of Defense mandates that contractors must put permanent item unique identification (IUID) marks on manufactured items before they enter the supply chain. The pharmaceutical and medical industries have been early adopters in their efforts to improve safety, security, quality and compliance. The car industry is also adopting item unique identification to combat counterfeit parts and lower the costs of warranty returns.
Some benefits of unique item identification programs include:
- Consistent identification: Distinguishes one item from all other items that an organisation acquires, manages or owns, establishes a common business language for asset identification and management across the enterprise.
- Improves data quality and integrity: Captures and associates valuable intelligence with items throughout the asset lifecycle through automatic identification technologies and connections to corporate systems
- Better decision making: Makes asset lifecycle data, from system design to disposal, accessible anywhere, anytime, for improved analysis and better strategic and operational decision making
- Increased visibility: Improves item visibility for operational planning, records accountability of asset custodians, provides ‘the primary key’ for correlating data and making discoveries which improve business outcomes.
- Reduced costs: Achieves better asset utilisation at reduced cost, produces cleaner audits for better business valuations, increases workflow productivity and efficiency, reduces losses from wastage, counterfeits or theft
- Safety, health, environmental compliance: Restricts access to items commensurate with training and authority, verifies pedigree data and histories of rotatable or recyclable components, tracks asset disposal & more
Relegen has helped a number of Defence, government and asset-intensive organisations with unique item identification projects. Our assetDNA enterprise asset intelligence software easily manages serialisation and works with barcode, direct part marking, and HF/UHF RFID-based asset tagging systems. Our experienced team can bring this expertise to your business. To learn more, contact us via firstname.lastname@example.org or +61 (0)2 9998 9000.