Enterprises discover efficiency gains of advanced asset tracking

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August 2, 2021
James Bracken

Location intelligence Asset tracking

It’s never been easier for enterprises to provide a timely answer to that often-voiced question, ‘where?’ Being able to pinpoint valuable assets and track their location in real time can reduce downtime, deliver cost savings, and improve service levels for customers.

Vehicle telematics have long been used by logistics companies to monitor and manage fleets, but advances in IoT and sensors now allow a wide range of business cases – and business benefits – for any enterprise to integrate these technologies into their operations. Here are five ways in which advanced asset tracking is delivering efficiencies for enterprises right now.

1.Optimising equipment maintenance and repair

Where’s the nearest technician who can perform vital maintenance, and where are those spares? Enterprises with production lines that need to maintain continuous uptime are exploring how to leverage this location intelligence to accelerate maintenance and repair. Being able to locate the closest skilled technician and the spares they might need allows repair time to be minimised; and when integrated with predictive systems that can warn of the need for prompt action on essential equipment, downtime can be kept to the absolute minimum.

2.Matching key staff with key equipment

Organisations with dispersed operations and assets need to know the location not just of service staff, but also of vital tools and parts. Advanced tracking capabilities help ensure that technicians and the vans they’re driving are ready to roll, arriving on site equipped and ready to carry out repairs and service. Engineers should never arrive on site with the wrong parts or tools again.

3.Monitoring driver behaviour

Covid 19 triggered an explosion in demand for deliveries, putting more drivers on the road and putting the same drivers under more pressure. Dashcams and traditional vehicle telematics allow companies to monitor driver behaviour and collect evidence in the case of incidents, with a corresponding impact on insurance premiums.

4.Geo-fence valuable assets

The affordability of geo-fencing means it’s relevant for assets large and small, from high-end manufacturing equipment to a single wheelchair.

Sensor technologies allow enterprises to ensure that high-value equipment and assets stay within the campus environment, helping reduce theft and the hassle and financial loss that results from it. An asset that crosses the virtual, predefined boundary can trigger a communications alert to local security staff or law enforcement, allowing the fastest possible response. The affordability of geo-fencing solutions means they’re now relevant for assets both large and small, from high-end manufacturing equipment and plant to a single wheelchair or vital tool.

5. Improve fleet management

With improvements in real-time mapping and traffic flow analysis, route optimisation has become more powerful than ever, allowing fleet vehicles to reduce fuel costs and maximise productivity, so they can fit more into each day, even with congested road conditions. Rich data allows close analysis to determine sources of waste and regular bottlenecks, and find opportunities to improve.

Advanced asset tracking to improve operational performance

Advances in sensor technologies now mean that assets and equipment can be pinpointed in real time.

A growing number of enterprises are discovering that advanced tracking can contribute to the bottom line, including those with widely dispersed and mobile assets, and those who operate in large, extended campus environments. Across sectors, enterprises are using automation to track assets, reducing lead times, improving service levels and ensuring productivity doesn’t suffer because assets have been mislaid.

Advances in sensor technologies now mean that assets and equipment can be pinpointed in real time, ensuring continuous visibility and providing an ongoing source of business intelligence that can contribute to management’s ability to see – and optimise – the entire operation.

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