Locating and Tracking Assets through IoT
You may wonder sometimes why are the healthy top-lines not resulting in increased margins. The culprit often to such conundrums is heavy costs associated with managing operational facilities including the Warehouses, Factories, Plants and Docks. Knowing the location and monitoring the health of your most valuable assets more often than not is the difference between streamlined and chaotic operations.
Thanks to the Internet of Things (IoT) technology, remote tracking of everything from heavy equipment to totes to pallets, packages, containers, and personnel can reduce cost, minimize inventory, save time and create new revenue streams for businesses, in addition to making life easier for operation managers. IoT enabled asset tracking is playing a greater role in the modern Industrial economy than ever before. A recent study concluded that 1.9 Trillion of economic value could be created by IoT devices in the global Industrial and logistics sector.
Here are some ways in which IoT enabled asset tracking can help you improve your business.
Cost Reduction: Tagging small to big assets with low power cost effective tags will incorporate location intelligence into your asset. This can avoid losing assets, minimize inventory and avoid demurrage and detention. Being able to track and locate assets can significantly cut the replacement costs and lower insurance premiums
Faster Response Time: Time lost in locating misplaced assets often goes unnoticed, however, results in a compounding effect causing shipment delays. The ability to know the whereabouts of any asset in a large facility in real-time can be priceless for the warehouse and factory workers.
Smooth Operations: Are the forklifts utilised efficiently during the peak loading times? Can the loading time at the docks be reduced? Can the physical Inventory counting process be less painful? The answers to all such questions begin with adding intelligence to the assets through IoT devices.
Detailed data - The unfair advantage that digital businesses have in the modern era is easier access to data from their web and mobile properties. What would it take to bring similar prowess to the traditional world of Industries? Smaller battery efficient IoT devices can not only provide data on location, but also essential condition parameters like humidity, pressure, and temperature. Such insights will make the entire operations more proactive than reactive.
Get in touch with Hopstack to find out how IoT-enabled equipment tracking will optimise your operations. Our Enterprise grade Platform can not only work with our approved devices but can also seamlessly integrate with your existing devices.