17 Best Asset Management Software for Manufacturing in 2024

If you are an asset-centric business, like manufacturing, managing a large number of linear assets such as machinery, tools, facilities, and infrastructure can be a headache. This is because each asset plays a crucial role in your production process, and keeping track of them all can be complicated.

With asset management software, you have an asset-tracking solution. It helps you monitor, operate, and maintain your assets without hassle. This software is designed to track and manage the entire lifecycle of your critical assets so they run smoothly and last longer. 

Here’s how an asset management solution can create a difference for your business:

• It allows you to plan your expenses better with access to detailed asset data.
• You can keep your equipment in top shape with with preventive maintenance schedules.
• You can extend the life of your assets with prolonged operational life strategies.

Ready to find the best asset management tools for your needs? Dive into our list of 17 best asset management software for manufacturing in 2024 along with their pros, cons, features, and pricing plans.

Quick Comparison Table

Note: Our top recommendation is our own product, Makula. We are committed to transparency and providing balanced, unbiased information. We take pride in Makula’s features and capabilities and encourage you to explore what it has to offer. To find out more, you can learn more about its functionalities or schedule a demo.

#1 Makula

Best for: Comprehensive Asset Management

What Makes Makula Unique?

Makula is a powerful asset management software designed to streamline maintenance operations across industries like manufacturing and facilities management. It offers a comprehensive view of all your assets and manufacturing processes, including their condition, history, and performance data. 

Some of the aspects that make Makula unique are:

• Ideal for Mid-Sized to Large Setups: Makula is perfect for medium to large setup manufacturers. It can integrate across various departments, tackling quality control and asset management challenges.
• Reliable Preventive Maintenance Tools: With Makula, you can implement preventive maintenance schedules to keep your machinery running smoothly and at full capacity. It helps you optimize inventory levels, reduce emergency repairs, and manage maintenance budgets efficiently.
• Expert Assistance for the Manufacturing Industry: Makula's team brings a rich experience in process automation and digital solutions for B2B sectors. One founder has 10 years of expertise in process automation, another co-founder specializes in digitizing the manufacturing sector with deep knowledge in IoT and cloud computing, and the third co-founder works on the Machine Economy, co-founding deep-tech ventures to deliver tangible impacts.

Key features

Makula's key features can improve your asset utilization and maintenance processes. Here's how:

Preventive Maintenance

Makula automates your preventive maintenance schedules, helping you extend equipment lifespan and reduce downtime. By conducting regular, systematic checks, you can catch issues in time. For instance, you can set up maintenance events based on usage data or sensor insights to prevent equipment failures and keep your physical and digital assets running smoothly.

Using Makula, you can automatically trigger work orders, optimizing asset management practices so that assets remain reliable and last longer. Preventive maintenance is a proactive approach that saves you time, and money and ensures reliability.

Asset Management

You can gain a detailed overview of all your assets, covering their condition, history, and performance data through Makula. 

With its real-time monitoring and analytics, you can make smart decisions about maintenance and replacements. It also lets you access important machine details—like model, warranty, and documentation—on both mobile and desktop devices. This accessibility allows you to promptly determine when repairs or replacements are needed, so your assets remain in top condition.

Inventory Management

Makula's inventory management feature checks that you always have the necessary parts on hand. With this software, you manage spare parts and inventory levels and get warned when stocks are low to avoid maintenance delays. 

You can also create and manage production lines, assigning machines to optimize your asset-tracking process. When inventory is optimized, working capital is reduced as inventory buffers are lessened.

For instance, when Makula is tracking inventory usage with each activity and automatically updating supply levels when receiving purchase orders, your business is able to meet demand without shortages.

Maintenance Analytics and Reports

With this asset-tracking software, you can generate detailed reports to support data-driven strategies for optimal equipment performance. For example, you can track assets, analyze downtime incidents and their causes, and refine your maintenance approach to further reduce downtime. 

Makula also lets you customize reports to match your maintenance KPIs, providing you with real-time data in your preferred formats, such as graphs or charts.

Pros

• Smooth Integrations: Makula supports integrations with various third-party applications, including ERP and CRM systems. Its API links your systems, automating processes to expand your capabilities. Additionally, the CSV upload feature simplifies data import from other software. This flexibility lets you utilize the system without needing complex integrations.
• Easy Data Access: This software allows you to quickly sift through asset data using various parameters like location, type, warranty, or repair history. Such data retrieval saves you time that would otherwise be spent searching through spreadsheets. For example, if you need to check the warranty status of a specific machine, Makula lets you find this information in seconds.
• User-Friendly Design: Makula's user interface is intuitive and supports a smooth user experience. Whether you are handling maintenance activities or managing assets, the user-friendly design allows your teams to work even with minimal training.

Cons

• New users might find the extensive feature list a bit overwhelming. However, there is a comprehensive knowledge base and a dedicated support team ready to offer the resources and guidance needed.

Reviews

"Since we started using Makula, we’ve gained a broader perspective on the evolving world of digital after-sales..." - Erik Döinghaus, Managing Director at Döinghaus Cutting and more.

Pricing

Makula provides flexible pricing, combining a platform fee with per-user costs. Here are the details of its plans:

• PLG Free: Allows free platform access with basic features and manages up to 5 assets for free. You can also add users at no extra cost.
• Essential: You are supposed to pay €200 per month for the platform plus €20 per user per month. This plan includes unlimited access to asset management, inventory management, and work orders, along with 1 procedure template and 3 months of analytics.
• Premium (minimum 5 users): Priced at €400 per month fixed rate, plus €30 per user per month, this plan offers detailed access to asset management, inventory management, and work orders. It includes 10 procedure templates, 2 years of analytics, preventive maintenance, meter-based PM, email sync, scheduling, teams, audit trail, and API access.
• Enterprise: This plan includes all premium features, a dedicated account manager, roles and permissions, and SSO. You can request personalized quotes in this plan.

#2 Asset Infinity

Best for : Asset Tracking on the Go

How it Works

Asset Infinity is a cloud-based asset management and tracking tool designed to help you track and maintain your assets, equipment, inventory, and tools from anywhere at any time. It serves a variety of industries including manufacturing, sports, hospitality, and education. With this asset management system, you can centrally manage all types of assets, keeping a detailed record of all maintenance activities and asset performance throughout their lifecycle.

Pros

• Asset Infinity fully automates key asset management functions, such as inventory and maintenance, giving your organization more control over the assets.
• The system generates reminders and alerts to verify that items are returned within a specific time period, reducing costs associated with replacing lost assets.
• The customer care team is responsive, and regularly checks in to ensure the software runs smoothly and provides any needed assistance.

Cons

• Some users have experienced occasional slowdowns with the mobile application.
• The user interface and workflow are slightly complicated and users have expressed difficulty in understanding and using it.

Review

"Asset Infinity has helped us in aligning our IT and admin assets. All our assets are now tagged, correctly identified, and automatically audited every 6 months!" - Charles Miller

Pricing

Asset Infinity offers various pricing plans. The Standard plan is priced at $130 per month for up to 500 assets and items and a 14-day trial is also available.

#3 ToolSense

Best for: Real-time Asset Management

How it Works

ToolSense aids in day-to-day operations for teams managing operations, maintenance, and repairs across industries like construction, facility management, manufacturing, and hospitality. It caters to businesses of all sizes, from small businesses to large enterprises, providing a centralized system for all your asset management needs.

Pros

• ToolSense offers real-time data on asset usage, which can help you optimize your assets.
• The software provides insights into the use and condition of your tools with detailed reports and allows for the creation of custom reports, workflows, and alerts according to your settings and requirements.
• The customer support team is always ready to assist with any queries or problems you might encounter.

Cons

• Some users have experienced performance issues when dealing with large data sets, which can be a hindrance in your operations.
• The interface can be slightly overwhelming at first glance, requiring a good learning phase before it becomes easy to navigate

Review

"With ToolSense, we no longer have duplicated data stored in Excel sheets but a central and synchronized system that contains all relevant information and documentation. We save a lot of time, and therefore, I have an immediate positive economic impact." - Ralf Lüddemann

Pricing

ToolSense offers three pricing plans and provides customized quotes based on factors specific to your assets and needs.

#4 IBM Maximo

Best for: Managing Asset Lifecycle

How it Works

IBM Maximo Application Suite is an asset lifecycle management platform designed to boost your company's operational productivity through automation. It is ideal for smaller teams wanting to execute cross-functional tasks on time using best-practice insights and workflows. The suite integrates artificial intelligence (AI), Internet of Things (IoT) data, analytics, machine learning (ML), and automation to meet your unique organizational needs.

Pros

• IBM Maximo allows you to easily track and manage work orders, so you stay updated on facility operations.
• It is rich in features that are related to Enterprise Asset Management (EAM) and integrates smoothly with other IBM technologies and products.
• The platform has a highly customizable inventory module that allows you to add extensive information for each asset.

Cons

• Customizing reports requires significant programming experience making it difficult to navigate without technical expertise.
• The software's licensing costs can be difficult to manage for small businesses with limited budgets.

Review

"Delivers out-of-the-box solutions for various industries without the need for customization and configuration." - Nivin George

Pricing

Pricing starts at $250.00 per month, however, there is a free trial available, with detailed pricing information provided upon inquiry.

#5 AssetPanda

Best for: Customizable Tracking of Physical Assets

How it Works

Asset Panda is a cloud-based asset management software, offering a high level of customizability and mobile support. It’s a well-designed tool that combines the management of a large inventory of physical assets with complex storage, shipping, and logistics workflows. Asset Panda also provides you with detailed reporting and interactive dashboards to measure the full lifecycle of your assets and optimize their usage.

Pros

• The mobile app allows you to scan barcodes, search for assets, and update them from anywhere, ensuring flexibility.
• Asset Panda comes with a customizable interface and features to fit your organization. It also offers helpful video tutorials to aid you in navigation and setup.
• With this asset-tracking software, you can assign assets to users and track them, making it easier to manage warranties and terminations.

Cons

• Users have expressed concern about the app running a bit slow while navigating through different pages and assets.
• Asset Panda does not support GPS functionality, making it suitable for tracking assets that are fixed assets rather than movable ones.

Review

"We needed an inventory system that was completely customizable. Asset Panda had all of that and much more. The mobile app is a special bonus that makes our job easier." - Elizabeth Davis

Pricing

Asset Panda offers custom pricing starting at $40.00 per month and includes a free 14-day trial.

#6 MPulse

Best for: Asset Maintenance Management

How it Works

MPulse is designed for businesses of all sizes, aiding in managing work orders, tracking inventory, scheduling preventive maintenance, and working toward regulatory compliance. One of its significant benefits is optimizing asset lifecycles, helping your business manage assets.

Pros

• The platform makes it very convenient to add records, and track maintenance and IT issues, as well as future services.
• The system provides easy-to-use preventive maintenance scheduling, real-time reporting, and mobile access, allowing technicians to carry out remote asset management.
• MPulse offers great customer service, with trainers demonstrating the utility of the software.

Cons

• It requires additional training to become proficient at using the system, making it best suited for a company with a dedicated system operator.
• Users have expressed a need for better data linking, especially when importing equipment information.

Review

"It certainly has simplified keeping track of what we do and how we do it." - Director of Engineering at Northwell Health

Pricing

Pricing for MPulse starts at $49 per user per month. This asset management software comes with three plans: Professional, Advanced, and Enterprise, and you can request a quote based on your needs and assets.

#7 eMaint

Best for: Asset Maintenance and Tracking

How it Works

eMaint offers an asset management system with inventory management, asset management tools, and maintenance scheduling features. It supports significant productivity gains and cost savings through its asset-tracking solutions, managing your inventory, and enhancing work orders. It is an ideal asset management solution for small or growing organizations and multi-site maintenance operations that want software configured to their requirements.

Pros

• The link between assets, preventive maintenance, and work orders is simple, making navigation quick and easy to learn.
• The eMaint equipment tracking and management system allows for significant customization of the equipment record data file and maintenance history.
• Should equipment conditions change, a maintenance team member automatically receives a notification and can access the asset’s performance data remotely using a laptop, mobile phone, PC, or another smart device.

Cons

• There is a lack of documentation for the more advanced configuration features that can be useful to system administrators and consultants.
• Report set-up is not always intuitive and some users have expressed the need for a more robust dashboarding.

Review

"eMaint combines simplicity and complexity into one user-friendly style. The additional features made it easy to combine our paper documents into eMaint for excellent record keeping." - Geoff R.

Pricing

eMaint has four pricing editions, ranging from $0 to $120 per user per month. You can also avail a free demo of the asset management software if needed.

#8 Asset Essentials

Best for: Preventive Maintenance Scheduling

How it Works

Asset Essentials is a configurable, cloud-based enterprise work and asset management platform designed for industries such as manufacturing, education, and government. It refines the management and maintenance of all your assets and facilities. 

With its asset management system, users can initiate, assign, and track the progress of maintenance work orders. It also allows you to manage equipment and develop advanced workflows with preventive maintenance scheduling.

Pros

• The customer care team is responsive to questions and issues and supports every step of the implementation process.
• The platform and mobile app for Asset Essentials are easy to use, allowing technicians to stay on the move across multiple facilities for work order information and completion.
• With Asset Essentials, you can enter work orders without cluttering email inboxes, and everyone can view work orders and know their status in real time.

Cons

• The initial setup of the platform may be overwhelming for users without prior CMMS experience.
• Some users have experienced difficulties with the mobile app, including slowdowns and occasional glitches when logging in.

Review

"The Asset Essentials Team did an incredible job employing 'ease-of-use' across all functions of the software. Each and every function is quick to learn, simple to use, and provides powerful results." - Dave

Pricing

Asset Essentials offers four pricing editions. You can contact their team for specific pricing information or a custom quote.

#9 Asset Cloud

Best for: Scalable Asset Tracking Solutions

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How it Works

AssetCloud is a comprehensive asset management system offering full life-cycle management, auditing, and loss prevention. By integrating RFID tracking technology, AssetCloud eliminates the need to scan barcodes individually, making audits, check-outs, check-ins, moves, and disposals faster and more accurate. It provides a virtual overview of physical assets, thereby reducing manual intervention.

Pros

• The software offers extensive customization, allowing you to configure the system for your specific asset types.
• The photo option lets you provide detailed information about each asset, making it easier for others to understand the asset information.
• You can track assets with just a few clicks, getting a comprehensive end-to-end monitoring and hassle-free audits.

Cons

• The reporting system for AssetCloud has a steep learning curve, requiring months of experimentation to become comfortable.
• Some users have mentioned that the Android app lacks some of the search functions available on the web app, which would be useful.

Review

"I am completely satisfied with the features of this software as it caters to all the needs to manage my company’s assets for the past 7 years. It automatically tracks and records all the important information about my assets, allowing me to concentrate on more important issues." - Dharmesh

Pricing

AssetCloud comes with three pricing plans: Basic, Plus and Complete. You can also avail its discounted subscription if you opt for annual billing, multi-annual contracts or tired pricing model.

#10 Sortly

Best for: Small and Midsize Companies

How it Works

Sortly is designed to help businesses across various sectors, including manufacturing, construction, medical, real estate, and automotive, by offering a user-friendly, customizable platform that simplifies inventory management. Catering to small and midsize businesses, Sortly offers you key features such as asset activity tracking, location tracking, inventory management, barcoding, and audit trails.

Pros

• Items can easily be found through the search function, which allows you to search based on location, item name, photos, and other filters.
• Sortly comes with a user-friendly interface that helps navigate and manage inventory items effortlessly.
• The platform give you the ability to search for products in multiple ways and also upload pictures of products. You can also print various reports and always have the total value of inventory displayed at a glance.

Cons

• There is a learning curve involved. It can take you acouple of hours to fully understand al the features of the software.
• Some users have reported that transferring bulk imports of material into the system can be challenging.

Review

"Overall, I'm extremely happy with the software. It's created efficiency within my business and has saved me a lot of money on part runs for items that we already had in inventory. I would highly recommend this software." - James K.

Pricing

Sortly offers four pricing plans, with costs up to $74 USD per month. A free trial is available, and custom pricing can be requested for the Enterprise plan.

Other Asset Management System for Manufacturing

11 - Best for Managing Stock Usage -EZOfficeInventory

12 - Best for Real-time Visibility into Asset Performance - NexGen

13 - Best for Asset Predictive Maintenance - ezAtlas

14 - Best for Integrated Asset Management - Asset Works

15 - Best for Real-Time Asstet Management - IFS Enterprise Asset Management

16 - Best for Startups, SMBs & Enterprises - BOSSDesk

17 - Best for Asset Analytics and Reporting - Orgzit

What is Asset Management Software?

Asset management software primarily tracks and manages assets throughout their lifecycle. It can provide you with detailed information on asset location, usage, and status. Here are the key elements of asset management software solutions:

• Lifecycle Tracking
• Real-Time Monitoring
• Automation
• Comprehensive Asset Details

What is Asset Management in Manufacturing?

Since manufacturing is an asset-heavy industry, you are required to track equipment, parts, and production lines so that everything operates properly. A good and effective asset management in manufacturing includes:

• Improving Operational Efficiency: With an asset management software, you can generate smoother operations, like ensuring asset availability and that all machines are in top working condition.
• Maximizing Uptime: Asset management in manufacturing includes keeping equipment running and minimizing downtime. Real-time monitoring with a software can alert you to issues before they cause significant problems.
• Managing Supply and Demand: In the manufacturing industry, it is important to keep a balance of inventory levels, and asset tracking software can help you verify is all parts and materials are available when needed without overstocking.
• Quality Control: Consistent asset maintenance and management contributes to the production of high-quality products, and helps you sustain performance and quality standards.

Why Do I Need an Asset Management Software?

Manual data entry and human errors can limit the scalability of traditional asset management methods. To improve the process of monitoring assets, here's why you need asset management software:

• Save Time and Money: An asset management software centralizes all asset data, reducing the need for manual data entry and administrative tasks. This frees up your team’s time and saves your company money.
• Clear Asset Visibility: You can get a single, centralized database for all asset information with an asset management solution. This makes sure that you have clear visibility into every asset.
• Plan Ahead: By providing historical data on asset lifecycles, an asset management software helps you estimate the asset health and plan for replacements or upgrades.

What is the Best Asset Management Software?

Makula stands out as the best asset management software due to its comprehensive toolkit and advanced features. It excels in reporting, and work order management, and supports various assets, making it our top choice. This is why Makula can be your one-stop solution:

• Variety of Features: Makula supports work order management and preventive maintenance. You can also streamline the creation, tracking, and completion of work orders with tools like calendars, maps, and Kanban boards. Real-time monitoring and analytics provide you with a complete view of assets, aiding in informed maintenance and replacement decisions.
• Flexible Pricing: You can enjoy Makula's several pricing options to opt for the one best suited to your needs. It comes with the PLG free plan, the essential plan, the premium plan and the enterprise plan.
• Intuitive User Interface: Makula’s user-friendly design supports easy deployment and minimal training. This allows teams to handle maintenance activities and manage assets comfortably, making asset and maintenance management straightforward across departments.

If you want to learn more about the capabilities of Makula for asset management, book a demo now!

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