SAP S/4HANA is one of the newest ERP systems that help to improve performance and optimize the company’s activities. Large selection, effective lifecycle management, maintenance, and asset monitoring are significant merits of this network. Using advanced technologies such as Artificial Intelligence and Machine Learning, SAP S/4HANA enables companies to manage their assets right from the procurement to the disposal cycle. This leads to efficient use, less time out, and more output because all those involved are pulling through the resource. 

What is Asset Tracking, Maintenance, and Lifecycle Management?

The processes of observing the state of tangible company property and the measures applied to organize the management and care for the company’s assets are termed asset tracking, asset maintenance, as well as asset lifecycle management. The following table shows the features and benefits of asset tracking, asset maintenance, and asset lifecycle management :

How does SAP S/4HANA Help Alter the Approach to Asset Management, Tracking, Maintenance, and Life Cycle?

The next generation system of SAP ERP system is known as SAP S/4 HANA, which offers complete solutions to organizations in relation to handling assets, their life cycle, and maintenance. This strong foundation consolidates numerous features to help firms manage the effectiveness and value of their assets while reducing the costs of operation. 

Tracking Assets Using SAP S/4HANA 

• Centralized cloud-based Hub: SAP S/4HANA, a centralized cloud-based hub Asset tracking as an IoT application provides a fully automated and accessible centralized system that is cloud hosted. 
• Increased Visibility: Through GPS tracking or barcodes or RFID technology, the solution helps businesses look into their physically tangible resources with much more visibility, such as machinery, cars, or any piece of equipment. 
• Collaborative Asset Management: Employees and business partners could exchange the best practices in the operation and optimize asset usage through a value chain with the help of the features that ERP S/4HANA provides. 

Maintenance Management of the SAP S/4HANA

• Integrated maintenance planning: SAP S/4HANA Asset Management also assists in enhancing the maintenance plan according to the condition of assets, production pressure, and legal procedures using the maintenance planning tools. 
• Efficient Scheduling: With the aim of enhancing the overall effectiveness of the maintenance schedule and minimizing the useful equipment non-working time, constraints on the scheduling process in the proposed solution involve aspects such as resources, priorities, etc. 
• Real-time monitoring: Real-time reporting provides customers with timely information on how the maintenance processes are being conducted and whether any issues need to be addressed at an early stage. 

Management of Lifecycle 

• Equipment Calibration: In order to ensure that assets are properly valued and ready for use, functional calibration of tools is available in SAP S/4HANA. 
• Status Management: Status management options are included in the package to control the performance of the assets and indicate possible defects to the maintenance departments. 

Preventive Maintenance: To reduce the risk of unpredictable downtime, SAP S/4HANA’s preventive maintenance module will schedule and execute periodic maintenance processes.

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Example

Through the incorporation of the above features, Such as operations order management and sales and distribution that operate on the advanced level of SAP S/4HANA, the productivity level of the asset has risen to 85% overall productivity across the organization. Thus, in its capacity as an ERP consultant, Brainvire assists companies with the effective management of their assets’ lifecycle, maintenance, and tracking. 

With the help of advanced tools and experience, we help clients increase the efficiency of asset usage, minimize costs, and increase their productivity. This facilitates efficient management and the way decisions are made concerning the assets right from acquisition and usage to disposal. 

Conclusion

SAP S/4HANA Asset Management provides comprehensive functionality features to achieve the potential of assets to the level of utilization and maintenance throughout the life cycle. This has been realized through optimized schedules and cuts in the number of downtimes, through which SAP S/4HANA Asset Management has enabled organizations to cut their maintenance costs by 70%. It helps monitor the time, schedule the maintenance of assets, and plan for resources with the intention of minimizing the time that assets are out of use, increasing the longevity of the assets, and improving decision-making.