equipmentmanagement

Equipment management is the systematic oversight of an organization's physical assets from cradle to grave. It covers planning, acquisition, operation, maintenance, renewal, and disposal of equipment to maximize uptime and utilization while controlling total cost of ownership. It relies on accurate asset data, clear ownership, standardized processes, and integrated information systems.

Key activities include asset tagging and cataloging, preventive and predictive maintenance, spare parts management, and performance monitoring. Asset tagging uses barcodes, QR codes, or RFID to track location, status, and history. Maintenance programs aim to prevent failures, extend life, and comply with safety and regulatory requirements. Condition monitoring and analytics support predictive maintenance and capacity planning. Replacement decisions weigh utilization, remaining useful life, and budget constraints.

Technology and data: CMMS or EAM software centralizes records; ERP may integrate procurement and accounting; IoT sensors enable real-time condition data; analytics drive optimization. Metrics include asset uptime, MTBF, MTTR, utilization rate, maintenance cost per asset, and total cost of ownership. Standards such as ISO 55001 provide a framework for asset management governance and continual improvement.

Applications and benefits: common in manufacturing, construction, energy, healthcare, and IT. Benefits include increased asset availability, safety, regulatory compliance, and cost savings. Challenges include data quality, fragmented systems, resistance to change, and capital budgeting constraints. Roles typically include an asset manager, maintenance technicians, procurement staff, and finance.