Asset-intensive companies are facing increasing pressure to address environmental, social, and governance (ESG) challenges. As the world becomes more conscious of the impact of business operations on the planet, technology can play an important role for industrial businesses in the healthcare, manufacturing and logistics sectors.
Investors are increasingly demanding evidence of strategies to lower carbon emissions for the firms in which they invest, and there’s an expectation that steps are being taken to improve operational sustainability credentials. So, there’s an escalating need for data and reporting tools.
Technology such as enterprise asset management (EAM) software can advance positive societal change and help to navigate the seas of sustainability compliance. They do this by managing the maintenance of physical assets of an organization throughout each asset’s lifecycle. EAM is largely used to plan, optimize, execute, and track required maintenance activities with the associated priorities, skills, materials, tools, and information.
EAM and the environment
In practice, a good EAM solution can benefit an organization’s environmental strategy in a number of ways. Timely maintenance, and maintenance aligned to correct procedures can help to prevent environmental incidents. Keeping equipment and systems well-maintained also assures better energy efficiency, while a consistent production process without unplanned downtime assures lower carbon emissions.
Subtle changes soon add up to meaningful benefits. EAM can optimize warehouse management methods which in turn reduces material waste. On the frontline of maintenance, the adoption of mobile apps and wearables result in less use of paper. And running your EAM Cloud-based on Microsoft Azure makes it between 72 and 98 percent more carbon-efficient than an ‘on premise’ solution.
Social matters
The scarcity of qualified technicians is forcing many industrial businesses to do more, with less. Technologies such as smart automation can have a huge impact here – harnessing automation technologies such as artificial intelligence (AI), business process management (BPM) and robotic process automation (RPA) to streamline and scale decision-making across the business.
An EAM approach can transform communication between operations, maintenance, and safety teams. Breaking down operational and data silos with a single centralized technology platform facilitates cross-team collaboration and a safer, more productive work environment.
Many of our clients use EAM to manage high-quality processes in the fields of incident management, work permits, task risk assessments, and ‘lockout-tagout’ as they work towards becoming a zero-incident organization. It’s another area rich in innovation. EAM-integrated technologies like predictive maintenance, drone inspections, and augmented reality are fast becoming the norm.
ConMet, a global manufacturer of systems and components for commercial vehicles is a good example. “We use the EAM system to record measurements in support of our predictive maintenance methodologies,” said Patrick Rowson, Engineering Manager for EAM Manufacturing Systems, ConMet. “In just one application – CNC lathe spindle vibration measurement – we estimate that we can save about $1.23 million each year in one plant by using predictive technology. EAM supports these activities.”
Clear governance
Access to accurate information at the right moment is key to effective decision-making. By providing real-time data and insights, EAM empowers companies to make informed decisions that promote sustainability. It enables organizations to prioritize renewable energy sources, reduce greenhouse gas emissions, and implement eco-friendly practices throughout their operations.
Reliable and reproducible information is also critical to demonstrating compliance and conducting successful audits. EAM allows companies to monitor and track their asset performance, ensuring that they are operating efficiently and sustainably. Operationally, it can provide clear, predefined steps in work orders, purchasing, and safety processes with precise steps of approval – all secured by the system.
EAM provides a comprehensive solution that enables companies to effectively manage their assets while aligning with ESG principles. By leveraging this technology, companies can optimize their operations, reduce waste and energy consumption, and minimize their environmental footprint.
***
Article contributed by Johan Made, CEO at IFS Ultimo.
Johan Made was appointed the Chief Executive Officer of IFS Ultimo in January 2024. His mission is to build upon the Company’s success, by continuing to develop new innovation, deliver industry leading solutions, explore new opportunities for growth, have a strong commitment to customer satisfaction and dedication to a culture of collaboration and inclusion.
Johan has extensive experience in various leadership positions within international software organisations. His most recent role as the Chief Commercial Officer at IFS had a focus of accelerating IFS’s growth strategy through investments, development opportunities and mergers & acquisitions. Johan has been a member of the IFS Global Leadership Team since April 2021.
Johan has previously been a Board Member for Simployer Norge and held senior positions at Infor where he was the Executive Vice President for North, West & East Europe. Prior to that, Johan was the Managing Director for SAP Sweden, the CEO for Barium AB and he also held senior leadership roles at Oracle, Hyperion Solutions and IBM.
Johan lives in Stockholm, Sweden and has an MBA from Linköping University. In his spare time he is a keen skier, enjoys travelling and playing golf.
