'Asset' in Enterprise Asset Management
"Evolution comes from within", a life comes into existence when an egg develops completely from within and breaks the shell. The evolution of Enterprise Asset Management (EAM) over the years can be compared to a similar development, time and again breaking the ever growing shell of EAM requirements. We spoke with Rohit Choubey, Lead Consultant - ECS EAM and Rejeesh Gopalan, Consultant - ECS EAM to get their views on significance of Asset definition in EAM and how it can contribute to the emergence. In this blog, with the example of Asset Management for personal health, they emphasize on identifying avenues for adding more Asset definitions to the EAM purview.
An Enterprise Asset Management (EAM) framework is predominantly based on the definition of 'Asset'. The 90s and early 2000 witnessed a transition of EAM from a mere package dedicated to a Production class of Assets to wider portfolio including IT Assets, Transport Vehicles, Pipelines, Roads, Landscapes (yes, you have read correctly 'landscapes') etc. So much was the impetus that more and more Assets got included under the purview of Enterprise Asset Management and supported by the respective best of breed industry processes.
Last week, during a discussion with Praveen Agrawal, our Principal Consultant in EAM Practice - Infosys, on the scope of sustainability in Asset Management, we came across an interesting topic "Socio-Asset Management" that can further expand the definition of an 'Asset'. I shall name it Personal Profile Manager (PPM); a tools which keeps a tab on your day to day activities, keeps you up and running and ensure that your downtime is less. You do regular exercise to ensure frequency of your breakdown can be reduced or you take your kid for scheduled vaccinations - Preventive Maintenance. You visit doctor when you get an indication that something is going wrong with you - Predictive Maintenance. If you are late in visiting doctor and fall sick, it becomes Breakdown Maintenance. You maintain a stable diet - Reliability Centric Maintenance and the list goes on. I agree this might sound a bit generic but just imagine the potential benefits it can bring by having the listed functionalities addresses by an intelligent program telling you what to do and when. An application, similar to the MS Office on your personal computer, which can record your master data and report your actuals and then the personal Health Management tool providing the intelligence on your health ... what do you think?
Every time we go about redefining the 'asset definition', a new dimension gets added to the EAM framework. Recently Praveen forwarded us an article on usage of Maximo for tracking Animals as Assets (http://www.ibm.com/smarterplanet/us/en/leadership/mafri/) - a totally new dimension of Maximo isn't? So start tickling your minds and identify avenues for redefining 'asset'- can it be water, air or ... ? Please share your thoughts.
Liked the way in which Rohit drew a parallel to relate the EAM concepts with the Personal Profile Management. The advent of Service Oriented Architecture (SOA) paved a way for business functions and related software services to operate in a plug and play model. The health management systems which Rohit is referring to, can be one such service which can draw information from an application on our computer for recording data like lipids profile, BP, blood sugar level etc. The information can then be integrated to principal health management systems or may be "Ask a Doctor Forum" which can derive meaningful conclusion out of it.
With mechanisms like downloading a e- prescriptions or a link to health videos demonstrating a health condition related exercise , one can effectively deal with issues like sky rocketing medical costs, problems associated to appointment and being present in person for a doctor checkup. A punch-out mechanism for buying medicines/equipment's from a custom - catalogue which again is based on personal profile, can further do the value addition. The asset definition, which in the context of PPM (Personal Profile Manager) is myself, can be extended further to increase the horizon of Asset Management. Just like how a comprehensive asset management addresses the maintenance requirement of operational Assets of today, It sure is capable of spreading its wings to an extent of our imagination. So as Rohit said- start tickling your minds, we have a long way ahead! Passing on the baton ...
About the Authors
Rohit Choubey is working in Asset Management domain for more than a decade now. He has handled multiple assignments in Business Process Management, EAM package implementations and Asset Management consultancy across multiple verticals. Recently, as a Lead Consultant, he led a team of consultants in one of the largest implementations of Maximo in the world.
Rejeesh Gopalan has worked extensively in package consulting around the Maximo Asset Management Software, with a clear focus on energy companies and utilities during his more than nine years with Infosys. As a Consultant, Rejeesh is responsible for providing leadership in multiple projects based on Maximo Asset Management Software, involving end-to-end implementation, upgrades and application support. He is a regular blogger of Infosys Supply Chain Management and blogs on Asset Management as well as Business Process Optimization Programs.