How IoT Enabled EAM Can Improve Overall Equipment Effectiveness-A Conceptual Solution

In case of manufacturing industry, revenue generation is directly dependent on productivity which intern is greatly influenced by overall equipment effectiveness of the manufacturing equipments. Manufacturing companies are always looking for new ways to improve overall equipment effectiveness and reduce the operational cost. Enterprise Asset Management processes and systems delivers this benefit of improving OEE. But, current revolution in the industry due to Internet of Things have advanced the EAM to a whole new level and uncovered new avenues to get insights about improvement in overall equipment effectiveness of equipments. This article discusses a conceptual solution-IoT enabled EAM to help solve a manufacturing industry challenge around overall equipment effectiveness and productivity. The article first talk about a specific use case for welding equipments used in body shop, associated productivity related challenges and then provide a technological approach to explain how an IoT and EAM based solution can leverage existing information from various data sources to gain important predictive and prescriptive insights which can to help solve the problem.