4 key features best asset tracking systems include
- Asset tracking analytics
- Asset tracking reporting
- Asset tracking alerts
- Asset depreciation tracking
Thanks to the power of the Industrial IoT solutions, managing your assets is now smarter than ever – because it is now accurate, comprehensive, intelligent, and real-time.
And compared to legacy models of asset management, IoT asset tracking is cheaper, faster, and better – giving you a competitive advantage if deployed right and quick. Let’s see how it works.
Monitor equipments even in locations where humans can’t intervene
With IoT – Industry 4.0 solution, you can monitor your machinery without manual intervention. With real-time asset health monitoring, a manufacturing plant can achieve lower operational costs by monitoring equipment and operating parameters to automatically trigger alerts and protectively initiate a service response. IoT sensors placed throughout a factory can determine when machines require maintenance or alert plant managers if the temperature or humidity levels are too high for sensitive processes such as painting or mixing ingredients.
A consumer packaged goods company can use the asset and material tracking to detect and reduce theft and maintain inventory levels by tagging and tracking products throughout the supply chain. A process manufacturing unit can use connected operations intelligence to achieve cost savings by effecting changes in their procurement model based on real-time consumable data.
A strong sensing and analytics-based Tracking solution can help you create a more efficient assembly line. By connecting location-tracking sensors on the production line — including beacons on workers, RFID tags on products, and RSP readers on workstations — and integrating data-visualization tools, you can enable your production managers can track key performance indicators at workstations, see where defects occur, understand their causes, and immediately address them. They can identify delays in the assembly line down to individual operators, increase process compliance, and introduce predictability.
Measure every asset’s performance accurately to improveÂ
Being asset-intensive, manufacturing companies face tight budgets, stringent regulations and high pressure to improve asset performance, even while being confronted with aging assets and workforce. Managing an asset with these challenges requires informed decision-making based on insight, knowledge, and forecasting. Data is a powerful tool to achieve this goal.
Thanks to the IoT mobile app, measurement techniques that were complex and expensive are now more affordable, accessible, and increasingly important. Even as you enhance your operations and supply chain – as a connected enterprise – building an analytics layer on top of it helps you find field data faster and immediately available for processing. Add to that the power of having more relevant measurements and observations of superior quality at your fingertips leads to informed decision-making.
Using IoT in Human Asset Management
Track, monitor, and measure can also be applied to human resources – provided enough care is taken to protect privacy and compliance with local laws. For example, sensors embedded in employee uniforms and helmets, in some of the industries, can detect hazardous conditions such as toxic gases, or warn of over-exertion based on the reading of an employee’s heartbeat. In another example, GPS-enabled devices or mobile applications help track the precise physical location of workers in order to deploy them most efficiently to new work assignments.
A typical IoT Smart Asset Management solution comprises Remote Asset Tracking, Asset Health/Condition Monitoring, Asset Lifecycle Management, Asset Workflow Automation, and Predictive Asset Maintenance. You need an end-to-end solution, which includes recommendations on what devices to adopt, building an IoT platform, implementing analytics, and using digital solutions to integrate the enterprise.
Conclusion
By now, more than 65% of manufacturers have started to implement IoT asset tracking solutions to improve asset RoI. Transform the process now with the next-generation IoT solution. Looking for advice? We’re experts. Let’s talk.
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