Businesses will be familiar with the costs and lost revenues associated with searching for and replacing missing assets. Sometimes these assets are only temporarily misplaced or lost internally, but the time spent trying to locate them can be costly and inefficient.
- Find and locate assets quickly in buildings.
- Gain new insights into the location, condition, and status of assets.
- Receive automatic alerts e.g when assets leave defined areas.
- Recover misplaced assets.
- Improve product authenticity by using secure barcodes and embedded sensors.
Choosing the right technology
At IoT Horizon, we recommend technologies based on client needs and their environment. For example, this could be an RFID, NFC, Ultra-wideband (UWB), Bluetooth, or GPS solution.
The Business Case
For each technology that we recommend, we ensure that there is a cost-benefit. As an example, one of our clients couldn’t locate assets in their warehouse and the cost to business was in excess of £250k per year
- £200,000 in lost assets per year
- £50,000 spent looking for assets
Examples of things that can be tracked (not limited to):
- Tools – Find critical tools in a factory. From ladders, toolboxes, emergency equipment and fork lifts etc.
- Spare parts– Know where spare parts are, the utilisation and any parts left unaccounted for. Create alerts when parts stay longer in specific areas.
- People – Know where team members are, and the people you need to collaborate with in real-time.
- Inventory – Know where products are, create alerts when they are moved, or when they are held for too long in specific areas.