Asset Management Archives

Introduction Industrial equipment is a significant capital investment. In addition to paying for the initial costs of equipment, there can be additional costs associated with insurance, licensing, repair, replacement, and maintenance (both planned and unplanned). Because costs quickly add up, regular maintenance is essential for budgeting, equipment longevity, and operational efficiency.  Beyond cost efficiency, industrial equipment maintenance is essential for ensuring workplace safety, regulatory compliance, and sustainability. Poorly maintained equipment can lead to operational hazards, environmental risks, and regulatory penalties. By investing in proactive maintenance strategies, companies can future-proof their assets and create a safer, more sustainable working environment. Proactive...

Introduction In today’s competitive marketplace, effective asset management isn't merely beneficial—it's essential. Unplanned downtime, compliance violations, and inefficient maintenance practices can quickly become costly burdens. Maintenance managers, facility managers, sustainability officers, operations directors, and environmental compliance professionals increasingly turn to advanced software tools to ensure smooth operations and regulatory compliance. Two of the most popular software categories for asset management are Computerized Maintenance Management Systems (CMMS) and Enterprise Asset Management (EAM). But the question remains: Which one is right for your business? In this guide, we'll thoroughly explain CMMS and EAM software, explore the critical differences between them, highlight the...

Introduction Alt text: Digital Twins in Asset Management: What You Need to Know – Green check mark inside a hexagon with circuit-like connections, representing digital integration. While traditional asset management strategies often rely on periodic inspections, routine data collection, and reactive maintenance, digital twins enable a more proactive, predictive, and holistic approach. These virtual replicas of physical assets—powered by real-time data and analytics—offer unprecedented visibility into asset performance.  By integrating information from sensors, Internet of Things (IoT) devices, and advanced simulation models, digital twins allow businesses to anticipate failures, optimize resource allocation, and make data-driven decisions more effectively than ever...

Introduction Imagine knowing exactly when your equipment needs attention before it fails. By pairing the data-driven reliability of CMMS with real-time information from Internet of Things (IoT) devices, you get a clear picture of how your assets are performing at any moment.  Let’s learn more about how IoT Integration works and outline the practical steps you can take to combine IoT devices with your CMMS effectively. You'll understand the tangible benefits, from improved asset reliability to modernized operations, and find actionable tips to guide your implementation process. What is IoT-CMMS Integration? IoT-CMMS integration refers to the process of connecting IoT...

Introduction Municipal asset management might not get all the headlines, but without it, every village, town, and city in the world would be worse off. From the water flowing through underground pipes to the traffic lights helping rush hour traffic, every piece of infrastructure and equipment needs to be carefully managed to keep communities running smoothly.  This is not a simple job, as modern municipalities often have millions of dollars worth of assets to manage while having to deal with tight budgets, aging infrastructure, and public expectations. Once upon a time, this would've all been done with spreadsheets, but that's...

Introduction Managing the entire lifecycle of assets – from planning and acquisition to maintenance management and divestment – requires much more than just visual inspections and paper-based processes. An effective manufacturing asset management system becomes an essential tool when organizations must oversee multiple assets, such as heavy equipment, components, tools, and facilities.  In this article, we’ll discuss asset management in manufacturing, including what it is, its key benefits, best practices, applications, and why it matters to manufacturing organizations. We will also highlight some of the benefits of LLumin’s Computerized Maintenance Management System (CMMS+) solution that can support your management efforts...

Introduction The hotel and hospitality industry largely runs on two principles: maintaining high-quality service to maintain customer satisfaction and the ability to keep costs down. The way to go about achieving this is through the proper management of assets (and staff) within a hotel. The value of Enterprise Asset Management (EAM) is on full display when everything from the maintenance of doors to the servicing of a washing machine is taken care of. This makes sure your guests have the experience of a lifetime, and though they might have to check out at 11 am, they really do not want...

Introduction The healthcare industry is one of the largest industries in the world, projected to generate a massive $4.41 trillion in 2025. [1] However, since it deals with patients, the stakes are extremely high, which makes it all the more important to better manage assets and records. It may sound like a very difficult task, especially considering there are so many factors to keep track of: equipment in the doctor’s office, research labs, and employee and patient records, but this is where Enterprise Asset Management (EAM) software saves the day. In this post, we’ll take a look at EAM and...

Introduction IoT asset tracking isn’t just another buzzword. It’s a powerful way to monitor your assets in real time, and it's transforming how companies manage, track, and optimize their resources. The best part? This technology isn’t tied to a single industry. From logistics to healthcare, businesses across the board are reaping the benefits. In this guide, you’ll discover what makes IoT asset tracking so effective. We’ll break down the tech behind it and show you how companies are using it to gain a competitive edge. What is IoT Asset Tracking?  IoT (Internet of Things) asset tracking refers to the process...

Introduction Fleet owners are always on the hunt for smarter ways to run their operations. And it makes sense. Managing vehicles, drivers, regulations, and all the costs that come with them is a huge investment. So, making calculated decisions isn’t just smart, it’s necessary to keep expenses in check. One proven way to do that? Integrate fleet management analytics into your process. What is Fleet Management Analytics? A fleet management analysis involves gathering information about your fleet from all sources possible. Once you gather all that information, we move on to the next phase—analyze and apply. The goal here is...