There are many
internet of things (IoT)
applications as well as multiple IoT platforms and
. Gone are the days of
, these days the assets iot technology-enabled and always connected to the internet. These assets get a virtual IP address which enables devices to communicate with central intelligence through the IoT gateways and IoT sensors. These connected devices transmit location information translated into positional coordinates. Thus the physical assets or physical objects undergo digital transformation into trackable items within asset tracking software making asset management an easy and real time activity making remote monitoring possible. Thus future of benefits of IoT holds huge promise when it comes to asset management along with larger concepts like a Smart Warehouse. Additionally, technologies like machine learning and artificial intelligence added on top of these can bring in many unthinkable possibilities.
In shop floor, there are Assets and tools like Dies, Jigs, Fixtures, etc are spread across various locations in-house and at vendor shops. locating these assets during a health audit is a major pain and impacts audit timelines and many times data collected become irrelevant by the time the actual audit happens.
a) Ability to track the asset at vendor location will prevent the misuse of these by vendors, thus preventing revenue loss since the use getting monitored becomes deterrent.
b) Accurate location of assets helps ensures securing stakeholders interest since it becomes easier for operational purposes and making it efficient
c) With asset track able online, greatly reduces the time wasted in order to locate manually various assets during an audit, reducing the overall cost of the audit in terms of man hours of effort consumed