Numerous companies have resource the executive’s designs that incorporate a register, resource recognizable proof, and vital arrangement for all advantages, however the more engaged plant resource the executives discipline is instituted when plants with especially high consumptions move their methodology to additionally amplify their advantages of the material and human resources that work inside the space. This is ordinarily done through a forceful plant resource upkeep plan that can be effectively followed and completed on a normal premise.
Some of the key challenges for plant asset management include: Scheduled maintenance – Is all relevant and up to date information available in order to plan and perform maintenance? Corrective maintenance – How quickly can the necessary information be accessed? Condition-based maintenance – Is all relevant data being retrieved? Information security – Can maintenance staff access all necessary data for their tasks without granting them full access to all systems? Mobility – Can employees access the information they need anywhere on site? Plant modifications – What deliverables are affected and where can the latest revisions be accessed?

Major players in the PAM market are Emerson (US), Honeywell (US), Rockwell (US), ABB (Switzerland), Schneider (France), Yokogawa (Japan), General Electric (US), Siemens (Germany), and SKF Group (Sweden), Infoplus MDM.

Infoplus MDM also one of the renowned Plant Asset Management company says the following: -All asset-intensive organisations seek answers to a few, fundamental questions: "What do I own, where is it, what condition is it in, what is its remaining useful life, and what is its remaining economic value?" Few organisations are able to provide accurate and satisfactory answers, with uneven data entry standards over many years’ production. A proactive, coordinated asset management programme can efficiently manage the life cycle of your assets, lengthen their effective life and reduce equipment failure and associated costs such as loss of production. Our experienced asset management consultants help you to maximise your assets’ utilisation and useful life and reduce your plant operating costs. Our plant asset management professionals help reduce the risk of downtime, identify where outages and breakdowns are likely to occur, and put in place preventative plans, plan future maintenance activities, undertake predictive asset health monitoring and information, diagnose health issues and provide remediation support. But it all starts with accurate underlying data. Plant asset management programmes should work hand-in-glove with materials management, maintenance and the sourcing of supplies and replacements. Infoplus MDM undertake asset management projects both during migration to new ERPs and for ongoing system improvement projects.
Conclusion: - Plant Asset Management is aimed at maximizing the return on investment of a process plant. Sponsored by the operation’s executive it creates a culture according to which every staff member contributes to the most effective way of running the plant. This process is supported by selected tools and systems at the various levels of the plant operational hierarchy, which facilitate managing, planning, monitoring, executing and controlling of all maintenance related activities. The result is the optimal utilization of all assets.