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Enterprise Asset Management versus Asset Management on Microsoft Dynamics® 365 for Finance and Operations

In November 2018, we were pleased to announce that Microsoft acquired the rights to Dynaway Enterprise Asset Management (EAM), which is part of the standard package of Microsoft Dynamics 365. Read more about it here.

This document Provides you an overview of the changes in performance from Dynaway EAM to Asset Management on Microsoft Dynamics® 365 for Finance and Operations. The next shows you a list of modifications regarding features and functionality.

Functionality eliminated

The following features and performance, which are contained in Dynaway EAM, are removed from Asset Management:

Asset service management (ASM), which includes the removal of customers, contact information on work orders, and contract management.

Project setup for objects/assets. In Asset Management, you can set up projects for work orders, which are similar to object projects.

Warranty types and warranty lines (previously a part of ASM).

Item ID on objects/assets. In Dynaway EAM, this is used to create a relation between an object and an item (inventory items). In Asset Management, assets cannot be related to inventory items.

BOM ID on objects/assets. In Dynaway EAM, this is used on an object, as a reference to a BOM. In Asset Management, this functionality is replaced by Asset BOM (Asset Management > Inquiries > Assets > Asset BOM).

Operations logs. Refer to the "Operations logs" chapter in the Dynaway Enterprise Asset Management Training Material to learn more about this feature.

Runnable jobs (previously used for data upgrade).

Read more about: Dynaway EAM Transition to Microsoft Asset Management

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Enterprise Asset Management Certification

What a journey... We launched Dynaway Academy just half a year ago and we have already visited 6 different cities in the U.S and Europe!

Want to become Asset Management professional? Join us in the upcoming course in New Orleans or Tampa!

Dynaway Academy - EAM Certification Course https://www.dynaway.com/academy

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3D Printing of Spare Parts

3D printing is changing things in many industries. Especially in spare parts production, it is a game-changer! 3D printing is revolutionizing the manufacturing, shipping and storage of spare parts and therefore solving many problems for Asset Intensive industries that has equipment that needs to be maintained. With 3D technology, manufacturers will not have to rely on external spare part suppliers. The technology comes with ease of production that even amateurs can implement. However, even if a manufacturer of a product chooses to work with an external spare parts supplier, the process will be more seamless and timely. 

Interested in digital transformation? Read about blockchain use in the manufacturing industry! https://www.dynaway.com/blog/blockchain-in-manufacturing

3D technology can save companies money through on-site production of spare parts. For example, a company can have a space for the 3D printers within the organization and therefore save on transportation costs. On-site production will cost less money than overseas production of spare parts if you take into consideration transportation, urgency and delays. Companies can circumvent suppliers to manufacture their spare parts on their own using 3D printing technology.

Additionally, the goal of 3D printing is to produce on-demand spare parts as opposed to producing and storing the parts. This saves companies a lot of money since they can only order spare parts when they need them in the exact quantity they need, therefore no money will be spent in storage. Also, no expenses will be incurred to replace spare parts exposed to tear and wear in the warehouses.

Examples of organizations that have embraced 3D printing of spare parts

Aircraft and engine manufacturers are investing in 3D printing for its numerous benefits. The automotive industry has not been left behind too! Famous car manufacturers like Mercedes-Benz and BMW are also starting to embrace 3D printing.

Siemens reports that the ability to print spare parts when it needs them has reduced costs and decreased dependency on suppliers to manufacture parts.  

Advancement in the 3D printing technology to produce spare parts has seen many partnerships being formed to this effect. For instance, Whirlpool, an American home appliance producer has teamed up with Spare Parts 3D, a Singapore firm to produce spare parts for Whirlpool. Among the most significant outcomes of the partnership is cost savings. Whirlpool will not incur inventory expenses by storing high quantities of spare parts. Once a part is broken or lost, Spare Parts 3D manufactures a replacement promptly.  

Problems facing manufacturers and how 3D printing solves them

The process of making, storing, and shipping spare parts is time-consuming and very expensive for both suppliers and customers. The good news is that 3D printing solves many of these problems and has positive outcomes for optimized inventory, decreased costs, and increased efficiency.

1. Waste of material

Material waste is among the areas that are milking product manufacturers dry. When using subtractive manufacturing techniques such as milling, so much material is wasted. A manufacturer uses only 30-60% of a block but pays for the entire block. This means that 40-70% of material goes to waste. This has a cost implication. When making huge parts, the wastage is massive, and the associated cost is prohibitive. However, 3D printing reduces material wastage and its associated costs. It reduces material waste costs by 95%. This means that a company that uses 3D printing for its spare parts will save a lot of money on huge projects.  

2. Inventory Storage

Manufacturers across different industries struggle with maintaining and storing spare parts inventory. They incur huge storage costs that increase their operating expenses and reduce their bottom line. Labor and maintenance costs contribute significantly to high inventory costs. With 3D printing, there is no need for spare parts inventory as the company can produce spare parts only when the demand arises.

3. Turnaround

Traditional manufacturing of spare parts is time-consuming. At times, companies have to rely on overseas manufacturers of spare parts to meet their demand. In such instances, a company's operations will be sabotaged hugely due to the time it takes for the spare parts to reach the company if something needs urgent maintenance.

Imagine a Food & Beverage manufacturer with a piece of broken equipment and stopped production. The more time it takes to get a spare part to fix the machine, the more damage occurs to business. Shorter turnaround time is more desirable for customers. 3D printing gives the farmer a short lead time because the spare parts can be made on-site.

4. Expenditure

Buying spare parts is costly comparing to having it internally. 3D printing makes it less costly and hence saving manufacturers in different industries thousands or even millions of dollars. 3D printing cuts material costs, inventory storage expenses, and turnaround time. A survey on 38 German industrial firms revealed that using 3D printing technology, spare parts suppliers will save approximately €3 billion annually which leads to reduced costs for customers as well.

What are the benefits of 3D printing spare parts?

Reduce lead time: Spare parts can be manufactured easily and quickly within the premises.

Increase spare parts availability: Organizations can always make any spare part whenever they need it. 

Cut costs: It will reduce the costs of producing, transporting, and storing spare parts.

Increase customer satisfaction: Currently, industries have to rely on spare part suppliers to meet their spare part needs. This might sabotage the companies, and hurt the relationship with their customers due to delays. 3D printing will help companies to meet customers' needs and increase their satisfaction.

Competitive advantage: Firms that will adopt printing of spare parts will earn a competitive advantage over those who will still rely on third-party suppliers.

3D technology is disrupting all major industries and it will transform how companies handle spare parts to a large extent and solve many of its problems. 3D printing helps firms to cut costs, increase operational efficiency, and optimize inventory. Industrial firms must embrace 3D printing to scale their businesses.