Losing track of the status of even one seemingly minor piece of equipment in a heavy industrial or technological environment can be a recipe for disaster. It may not come immediately, but you're undoubtedly setting yourself up for trouble.
That's why asset management must be a pivotal element of oversight for every organization operating in industries ranging from semiconductor manufacturing to petrochemical processing and so many in between.
What are asset management tools? The basics
An organization's value is, in no small part, based on its assets. Of course, that term alone is incredibly broad. It can refer to tangible assets like office chairs or intangible assets like intellectual property. Everything from liquid funds and investment-backed securities to giant machines or effectively invisible cloud software assets fall under this giant umbrella category.
In terms of day-to-day operations within industrial facilities, however, the most important area of asset management relates to equipment oversight. Vehicles, assorted machines, computers and their many components are the vital elements that make a company run, and keeping track of their performance is of the utmost importance. Management of your assets involves establishing maintenance schedules, closely monitoring asset Bills of Materials (BOMs), setting counters as key performance indicators, following the life cycle of repair work orders and much more.
With the advent of the industrial internet of things (IIoT), comprehensive oversight is more feasible than ever before. But to ensure you reap the most benefits from IIoT-driven management, it's critical to have agile, leading-edge software asset management tools on your side. You'll have the freedom to boost assets' life spans, cut down on production expenses, minimize downtime and boost maintenance efficiency from both a planning and an execution perspective.
Microsoft Asset Management and Dynaway EAM
As we noted above, Dynaway EAM and Microsoft Asset Management are, in some ways, one and the same: Anyone using Microsoft Dynamics 365 since November 2018 has been able to access EAM as a module within Supply Chain Management.
However, EAM existed long before Dynaway's relationship with Microsoft and the module's inclusion in any of the software giant's products. In fact, hundreds of our clients still use the original Dynaway EAM version of the solution and will be able to continue to do so, as EAM is available in AX2012 and D365 for both cloud and on-premises installations.
Benefits of Microsoft Asset Management
The clearest and arguably most notable benefit of Microsoft Asset Management — as a result of the foundations provided by the Dynaway EAM software — is comprehensiveness.
Any quick look at the dashboard of this equipment and software asset management tool will immediately give you an impression of just how much control over (and insight into) your assets you have when you put Microsoft/Dynaway EAM to use. On a macro level, you can quickly take a broad look at your facility's functional locations and review maintenance schedules. Getting further into the nitty-gritty of things, you can review assets slated for preventive or breakdown maintenance, review the history of assets and repairs made to them (or not, as the case may be), schedule an audit, dig into relevant KPIs and plot out how to keep these maintenance tasks within a reasonable budget.
To ensure an even more streamlined path toward optimal equipment and device management, this enterprise asset management platform works perfectly alongside other Dynamics 365 modules , including Finance & Operations and Power Platform. Furthermore, Microsoft Asset Management powered by Dynaway EAM is fully capable of leveraging the astounding power of the Microsoft Azure cloud.
Even if your industry still uses some legacy hardware or software for certain processes, there's no reason why the asset management tasks for those tools have to be handled in any outdated fashion.
Microsoft Asset Management FAQs
Asset management is complex enough without worrying about the various distinctions between software platforms. With that in mind, we've compiled some of the queries we receive most frequently — from new buyers, returning customers and everyone in between — and answered them here to provide further clarity.