Perhaps one of the biggest challenges for companies—especially asset-intensive organizations—is how to effectively manage all their different types of assets, without creating a huge management workload that impacts the bottom line. Every asset has a lifecycle. The key to effective asset management is knowing where a particular asset is in its lifecycle—at any given moment—and whether it is providing value to your business. If you know the current state of an asset, then you can intelligently plan and budget for updates, replacements and other changes in an asset's lifecycle.
In developing or manufacturing a product, or delivering a service for a market, asset-intensive organizations must constantly track, assess and manage a wide range of physical, technology and human assets. Organizations in asset-intensive industries must manage both inventory and production; repair machinery; hire and schedule employees; deploy and manage their IT infrastructure; and maintain physical plants, their linear infrastructure or rolling assets. To further complicate matters, technology infrastructures are tremendously complex, typically running applications and data in silos that can limit the effectiveness of cross-organizational operations and efficiencies. These organizations must deal with continually aging physical assets—from power plants to railroad bridges to sewer systems, or from generators to electronic devices such as handheld computers—that require ongoing maintenance and repair since asset performance and the resulting quality of the company's products are impacted by the reliability of the asset or equipment.
Despite these challenges, an organization’s products or services must constantly evolve to meet customer demands. Issues such as increased globalization; commoditization and competition; compliance with industry and government regulations; green and sustainable operations; health and safety in the workplace; eroding margins; and the resulting higher costs of doing business all contribute to this phenomenon. So, how can an organization hope to both control assets and remain profitable? Successful organizations adapt to change by improving their operations and enabling flexibility and agility. And asset management can be a significant factor in their success. One critical step in rising to the challenge of change, and in controlling the complex asset environments necessary for bottom-line results, is to unify processes that manage wide-ranging functions across an organization’s multiple sites— while optimizing production and service systems within each site.
Oracle's Asset Lifecycle Management leverages integration with Oracle E-Business Suite to deliver critical information across many departments within an organization. Improve equipment reliability and plant utilization with solutions that offer real-time collaboration and adaptive procedures. Transform your organization from fragmented and reactive to customer-centric and predictive.
Oracle's Asset Lifecycle Management enables organizations to:
Improve productivity with real-time analytics and better PM schedules
Align the value chain with demand-driven spares, MRO materials, and maintenance management that is integrated with financials and operational scheduling
Enforce compliance to better control risks, adhere to closed-loop inspection procedures, and ensure worker safety