Top Asset Technology Trends to Watch in 2020

In recent years, the digitization of enterprise asset management (EAM) has become a top priority for many organizations. In fact, according to a report by MarketsandMarkets, the EAM market is expected to grow from $US 5.1 billion in 2019 to $8.2 billion by 2024. The growing demand for technologies like edge devices, SaaS-based tools and apps, cloud-based platforms, artificial intelligence and machine learning-based models, and digital twins are just some of the major factors driving the growth of this evolving market.

Professionals tasked with EAM responsibilities are facing tremendous pressure to figure out how to best leverage these technologies to deliver more-informed and effective business results. To help, we reached out to some of the speakers from the upcoming SAP-Centric EAM and Supply Chain Conference to identify the key trends they think we should pay attention to in the EAM space this year. Their answers are summarized below.

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Filed under: Industry News

Why You Should Listen to the Voice of Your Enterprise Assets

Randy Bradley speaking into a microphone on stage

The disciplines of enterprise asset management (EAM) and supply chain management may sometimes feel like the “unloved” portion of an organization. In fact, ASUG found in a 2018 research study we conducted that only 1 company in 4 believes it has a very efficient or somewhat efficient supply chain. And in another study from 2019, we learned that only 22% of companies self-identified as supply chain industry leaders.Continue reading

Filed under: Industry News

Top Reads: Innovations in Enterprise Asset and Supply Chain Management

The rise of Industry 4.0 is transforming the way we do business. At its core, Industry 4.0 is focused on automation and data management across manufacturing technologies and processes leveraging artificial intelligence (AI), cyber-physical systems (CPS), the Internet of Things (IoT), and more. Advancements in technologies like AI, machine learning, automation, and the IoT are changing entire business operations, making companies more efficient, agile, and collaborative than ever before. Two such areas that have been tremendously impacted by these developments are enterprise asset management (EAM) and supply chain management. 

 

With all of this transformation happening, it is difficult to know where to turn online for reliable and relevant information. To help, we have compiled top articles and podcasts that discuss the most recent innovations and pressures specific to the areas of supply chain management and EAM, highlighting the latest developments in EAM and supply chain to support the evolution of your business.

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Filed under: Conference News

Union Pacific Says Goodbye to Clipboards in Its Mobile Warehouses

Union Pacific operates the second-largest railway system in the U.S., managing tracks across nearly half of the states in the union through remote and rugged states like Utah, Nevada, and Idaho. Key to keeping the trains moving is this elegant solution: mobile warehouses roughly the size of a semitrailer that can follow the heavy machines it uses to repair its track infrastructure.

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Filed under: Industry News

What Drove Puget Sound Energy to Transform Its Warehouses

An upcoming regulatory change and meter replacement project were just two of the reasons why Puget Sound Energy began exploring new SAP products to add to its landscape.

The provider of electric and gas services across the Pacific Northwest had SAP ERP systems in place since 1998. But its warehouses were still using paper-based processes that its employees had been following for more than 20 years. The company’s technology team recognized this approach would no longer align with the current or future needs of the business. That included being able to batch manage materials that were regulated by the Pipeline and Hazardous Materials Safety Administration (PHMSA), for example.

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Filed under: Industry News

25 Leading Enterprise Asset Management and Supply Chain Influencers on Social Media

It’s common knowledge that in our digital era, many business operations are looking to unlock the full potential of emerging technologies so they can begin to proactively respond to consumer demands and become the frictionless businesses of the future. The enterprise asset management (EAM) and the global supply chain are two such business functions that are looking for the right way to seize the opportunities presented by digital transformation.

According to research by ASUG, 41% of respondents believe that emerging technologies like artificial intelligence (AI), the Internet of Things (IoT), or edge computing will have a significant impact on their business in the 12 months. Within EAM, 66% believe the top technology that will change their business this year are advanced dashboards and analytics. This level of interest points to a clear desire for business leaders across various industries to begin taking full advantage of digital solutions now to become forward-thinking organizations. To learn more about these business trends, see EAM and supply chain trends.

With all of the talk surrounding digital transformation, it can be difficult to keep up with the most recent developments. That’s why we compiled this list of some of the leading influencers, industry leaders, and subject matter experts on Twitter and LinkedIn who are actively engaged in online discussions at the center of innovation in EAM and supply chain. Following these influencers is an excellent starting point to help you stay on top of key news and insights.

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Callaway Tees up SAP S/4HANA to Manage Its Supply Chain

Like most consumer enterprises, global sporting goods company Callaway Golf wanted to provide an omnichannel experience for its customers. This became even more important when its business and product lines expanded through several acquisitions.

Callaway Golf had run the same central ERP instance for more than 20 years. When the business ventured from designing and manufacturing golf-related products to include retailing lifestyle-related merchandise in more than 70 countries, it became evident that its existing ERP system needed an upgrade.

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Filed under: Industry News

Watch Now: 2019 Conference Recap

The 2019 co-located SAP-Centric EAM and Supply Chain conference was a hit. The agenda included customer success stories on leveraging SAP solutions for asset management, maintenance, supply chain, materials, procurement, and more. These topics equipped attendees with new concepts and practical examples to maximize SAP solutions for business successes.

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Filed under: Conference News

Preventing Disasters With a Digital Twin

In 2010, the largest marine oil spill in the history of the petroleum industry took place when a wellhead blowout caused a massive explosion, resulting in the deaths of 11 people and the discharge of 4.9 million barrels of oil into the Gulf of Mexico.

Today, this type of crisis can be averted. By leveraging the power of digital twin technology, an enterprise can remotely monitor and analyze the condition of its assets in real time and help prevent the next catastrophic disaster.

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Filed under: Industry News, IOTTagged with: ,
 
 

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