A New Software Category: Enterprise Asset Communities (EAC)

Author: Talmage Wagstaff

My 3 yr old daughter is a wonderful free spirit who often escapes our home. She is known as the Houdini of our neighborhood. As a parent, keeping her safe is often overwhelming. She has been “rescued” by neighbors at least a half a dozen times during her adventures. It does take a village to raise a child.

After one of her dramatic escapes and rescues, I thought about the similarities between my professional life with Industrial Equipment and my personal life as a father. Owners of Industrial Assets, like parents, experience stress and anxiety when trying to care for their Assets. But just like with children, these owners know they can’t do it all with just an internal team. It takes a Community to care for an Asset.

What is an Asset Community?

An asset community is comprised of three primary teams: 1) Asset Owners, 2) Contractors, and 3) Suppliers. The asset owner is the individual or organization who owns the asset and uses it to produce revenues. The contractor is the individual, organization, or group of organizations, that provide services to care for an asset. Suppliers are the individuals, organizations, or group of organizations that sell assets, parts & fluids, or data, along with services to the asset owner.

Examples of Asset Owners: General Manufacturing, Mining, Oil & Gas, Metals, Wood Products, Construction, Facilities, Municipalities, and many more.

Examples of Contractors: Construction, Maintenance Services, Cleaning Services, Environmental Services, Industrial MEP Services, Pipeline Services, Consulting and many more.

Examples of Suppliers: Equipment Manufacturers, Sensor and IoT providers, Parts Suppliers, Chemicals & Fuel & Oil Suppliers, and more.

Enterprise Asset Communities: Contractors and Suppliers are members of multiple Asset Communities and can even be Asset Owners in their own Asset Community. Inversely, asset owners might function as a contractor or even suppliers in other Asset Communities outside of their own.

Therefore what? Why does knowing this help?

As a participant of an Asset Community already, you should be searching for a software platform that enables your success within the community. The Asset Communities that you are a part of, are tight knit teams, whose work is to provide care for the community’s Assets. In the Real World, these teams work together hand in hand, at the same time, on the same projects, in the same space, and with the same goals, to keep Assets healthy. In the Cyber World, these teams are NOT connected, not in the same space, do not share data, do not follow the same procedures, and may not even refer to the Asset as the same thing. Enormous gaps in Asset Care exist due to the lack of a community platform. 

Imagine the benefits of a software platform experience where contractors and suppliers provided parts, labor, data, and consulting to the same Asset Community which the asset owner uses as their source of truth. 

Introducing a new Category of software, Enterprise Asset Communities (EAC)

Redlist has created a platform with products for each member of the Asset Community! The teams and members of these communities need field-first mobile offline experiences. This platform must include the following products: 1) Enterprise Asset Management for Asset Owners, 2) Field Service Management for Contractors, 3) OEM Management for Equipment Suppliers, 4) Environmental Safety and Health Management for the whole community.  Participation in Asset Communities will result in Assets that last longer, owners would produce more, and contractors and suppliers who are viewed as essential members of the community and are more efficient in their businesses.

Our customers can expect even more features and opportunities to connect, communicate, and collaborate within the many Asset Communities that they participate in.

The Redlist EAC Platform: Field Services (FSM), Enterprise Asset Management (EAM), Safety (EHS), and Supplier (OEM) products

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