Capterra Glossary
Asset Performance Management (APM)
Asset performance management (APM) refers to the collaboration of software and services aimed at optimizing the performance of assets and the effectiveness of operations and maintenance (O&M) across equipment and the business. This is done to improve the availability and reliability of physical assets, decrease operational risks, and minimize costs. By enabling work-process automation, integration, and analytics, APM helps bring increased value to new industrial operations. The functional pillars of APM, which include reliability, health, integrity, strategy and safety, can serve as a comprehensive approach to O&M and asset management. APM can be found as an on-premise software as well as a cloud-based service.
What Small and Midsize Businesses Need to Know About Asset Performance Management (APM)
Maintenance or repair is often needed during the operations of an asset and through its life cycle. The lack of asset maintenance can then result in decreased productivity. SMBs can benefit from decreased maintenance-related costs by implementing a strategy of fixed asset management.
Related Terms
- Enterprise Resource Planning (ERP)
- Procurement
- Total Cost of Ownership (TCO)
- Vendor
- Supply Chain Planning (SCP)
- Telematics
- Senpai
- Vendor Management
- Value-Added Reseller (VAR)
- Bill of Materials (BOM)
- Supply Chain
- Smart Factory
- Scanner
- SCADA (Supervisory Control and Data Acquisition)
- Radio-frequency Identification (RFID)