Oracle Cloud offers a broad portfolio of software as a service applications, platform as a service, and social capabilities, all on a subscription basis. Oracle Cloud delivers instant value and productivity for end users, administrators, and developers alike through functionally rich, integrated, secure, enterprise cloud services.
 Get a Free Magzine ...Profit:The Executive's Guide to Oracle Applications

Subscribe to the OracleAppsHub to receive notifications when there are new posts:

 get RSS feed
 Oracle Fusion Applications (OFA) is a portfolio of next generation suite of software applications from Oracle Corporation. It is distributed across various product families; including financial management, human capital management, customer relationship management, supply chain management, procurement, governance, and project portfolio management
 Get a Free Magzine ...Profit:The Executive's Guide to Oracle Applications

The Asset Life Cycle – eAM Context

Posted on June 21st, 2008 by Sanjit Anand ||Email This Post Email This Post

Have you tried OracleappsHub in ipad/iphone/smart Phone? Don't wait. try it today

In the lifecycle of Assets these are different stages:

AssetLifeCycle

  1. Business Modeling that is based on actual operating and performance data allows companies to continuously monitor and modify the model under changing conditions. Oracle BI is product typically used to perform this function.
  2. Capital Planning is the starting point for asset-related business execution. Timetables and budgets originate in capital plans; companies can monitor and measure performance against these plans. This is a critical and dynamic part of the business cycle. Oracle Projects is product typically used to perform this function
  3. Operational and capital Budgets generated as part of planning processes are the foundation of business-performance monitoring. Budgets are important for operational as well as financial management. Oracle Financials is product typically used to perform this function
  4. Procurement of assets is where detailed information about assets starts to be collected.Performance specifications are part of any request-for-quotation process, and should flow through to purchase contracts, and on to receiving and inspection documents. Quantity and cost information should flow to payables and fixed-asset records to ensure proper accounting and ongoing depreciation calculation. Oracle PO and IPROC is product typically used to perform this function.
  5. Installation of assets requires tools for physical installation, as well as management of the people and materials required to execute the work. Often, installation is fully or partially executed by the people who are tasked with ongoing maintenance. Capture of as-built configuration information and other details is necessary to support future operation and maintenance. Linkage of the actual
    work required back to the capital-budgeting system is necessary for project management and control. Oracle EAM is product typically used for this function.
  6. Operation of assets requires tools for planning and scheduling the productive use of an asset. In a manufacturing environment, this means tools that consider product demand, production capacity, production cost, and maintenance requirements. The relationships of these factors are nonlinear and dynamic. Planning tools must allow for repetitive, real-time reevaluation and adjustment of schedules. Oracle SCM is product typically used for this function.
  7. Maintenance of assets requires tools for labour, and material planning to support work execution.Scheduling tools must consider resource availability, material availability, and operational requirements of an asset. Performance and operational characteristics should drive dynamic
    adjustments to the preventive and predictive tasks associated with asset maintenance. Oracle EAM is product typically used for this function.
  8. Performance Management and reporting is critical for asset managers who must make decisions about the operation and maintenance of an asset. Access to daily business-intelligence information is a necessity. This type of timely information is available only with an integrated enterprise asset management system. Oracle BI is product typically used for this function..
  9. Capital Improvement is commonly part of an asset’s life cycle. Extending the life of an asset or improving its operating characteristics is often more cost-effective than replacing the asset.Access to historical performance, cost, and financial information is required for optimal decisions regarding capital improvements. Capital-improvement decisions feed back to the planning process, and, for many assets, result in multiple loops through the asset life cycle.
  10. Decommissioning of an asset means its physical removal from operation and its removal from systems for planning maintenance and operation. Oracle EAM is product typically used for this function.
  11. Disposal of an asset involves physical disposal, as well as accounting disposal, to remove it from further involvement in operational and financial reporting.Oracle Financials is product typically used for this function.

An integrated system that includes asset management provides unique benefits in each stage of the asset life cycle.

Related Posts

Posted in Oracle eAM | No Comments »Email This Post Email This Post |

Have you tried OracleappsHub in ipad/iphone/smart Phone? Don't wait. try it today
Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.