enterprise asset management

Enterprise Asset Management (EAM) refers to the systematic approach organizations use to manage their physical assets—like machinery, buildings, and vehicles—throughout their lifecycle. This includes planning, acquiring, maintaining, and disposing of these assets to optimize performance and reduce costs. EAM helps ensure that assets are effectively utilized, maintained in good condition, and replaced when necessary, ultimately improving productivity and efficiency. It often involves specialized software that tracks asset data, schedules maintenance, and manages resources to enhance operational reliability and support strategic goals.