For enterprises running complex equipment 24 hours a day, 7 days a week, asset uptime is critically important. Organizations must always have the right skilled labor and parts available at the right time. On top of this, they must account for all financials relating to the inspection and maintenance of assets throughout their lifecycle so that performance can be improved and costs minimized. Only ERP specifically tailored for asset-intensive industries can meet these challenges head on.
Asset-intensive industries tend to focus more on the complex plants and equipment they use than the products they produce. Any interruption due to plant or equipment failure can result in lost production that may be unrecoverable. The enterprise asset management components of the ERP software are as important as material requirement planning components for a manufacturing organization.