What are the benefits of IoT-powered Asset Management?

Traditional asset management methods using spreadsheets and barcode scanners are slow, prone to error, and offer limited visibility. This can lead to lost or misplaced equipment, wasted time searching for assets, and inefficient resource allocation.
The Internet of Things (IoT) offers a transformative approach to asset management. Businesses can unlock a wealth of real-time data and insights by equipping assets with tiny, internet-connected sensors.

Core Components of an IoT Asset Tracking System:

Smart Sensors: These compact devices collect asset-specific data like location, temperature, vibration, and environmental conditions. Options range from long-range GPS trackers for outdoor assets to RFID tags for indoor asset tracking.

Seamless Connectivity: Cellular networks, Wi-Fi, or Bluetooth ensure the sensor data reaches a central platform. The choice depends on the range and application requirements.

Actionable Intelligence: A cloud-based software platform processes the collected data, analyzes trends, and presents it in a user-friendly format. Users can access real-time data for Location Tracking, Alerts and Geofencing, Asset Health Monitoring, etc.

Benefits of IoT Asset Tracking:

Hyper-Localization and Indoor Tracking: Advancements in sensor technology and positioning systems enable more precise tracking, even indoors where GPS signals are weak. This is particularly valuable for managing assets in complex environments like factories, hospitals, or construction sites.

Integration with AI and Machine Learning: IoT data is being combined with AI and machine learning to unlock even deeper insights. For example, AI can be used to analyze sensor data and predict equipment failures with even greater accuracy, or optimize maintenance schedules based on real-time usage patterns.

Environmental Monitoring and Sustainability: IoT sensors can be used to track environmental conditions surrounding assets, such as temperature, humidity, or vibration. This data can be used to optimize storage conditions, improve energy efficiency, and ensure compliance with environmental regulations.

Low-Power Wide-Area Networks (LPWAN): The development of LPWAN technologies allows for longer battery life and wider coverage for asset-tracking devices. This opens up new possibilities for tracking assets in remote locations or those that are not constantly powered.

At WeMakeIoT, we have experience providing asset-tracking solutions and services to clients from different parts of the world, including the USA, Singapore, etc.
Here are a few examples.

• We developed a comprehensive asset-tracking system specifically designed for a telecom service provider, combining core tracking functionalities with an added layer of security: human and door status detection.
  The system utilizes small, internet-connected sensors attached to each battery to track location and temperature. Data is transmitted wirelessly to a central hub for real-time monitoring. A web and mobile application allowed users to view battery location on a map, set up alerts for unauthorized movement, monitor temperature for optimal battery health, track door opening/closing events in the storage room, and access historical data. This solution empowers the client with reduced battery loss, enhanced security through door and human presence detection, improved battery life through temperature monitoring, and data-driven decisions based on historical usage and location data.
• We developed an IoT solution for a client that uses asset tracking devices to monitor containers. We developed a system that allows the devices to send data directly to their web application, bypassing the manufacturer’s server. This was achieved by creating a collector program to decode device data and integrate it with the Thingsboard platform for visualization. In the second phase, we focused on user experience by integrating WhatsApp Business for communication and allowing automated asset creation. We also implemented data erasure protocols to ensure privacy when devices are reassigned.

If you’re looking to harness the power of IoT for your asset-tracking needs, we’re here to help. Contact us today to discuss your specific requirements and explore how we can craft a customized solution that delivers real-world results.

Interested in learning more about benefits of IoT-powered Asset Management,
Contact us now: https://www.wemakeiot.com/contact-us/