Companies in commercial industries are constantly looking for new or cost-effective technology in their factories or workplaces. The main goal is to maximize production to increase sales, process efficiencies, and customer satisfaction. Commercial industries are fast-paced and require work to be as efficient as possible. Due to labor and supply chain shortages, companies started looking into asset tracking and monitoring solutions due to the abundance of benefits and process improvements. Here are three ways asset tracking and monitoring solutions benefit industrial companies.
Companies in commercial industries have large amounts of tools and equipment in their facilities. It can be difficult for companies to keep track of and maintain these assets as they operate during multiple shifts. Utilization reports are helpful for companies because they help users visualize operational time and conduct maintenance procedures based on this information to help eliminate downtown. With a real-time location system (RTLS), companies can see this information in real-time. It can also help assure employees that equipment is available to maximize usage for improved processes.
When we look at the journey of asset management and digital transformation, we can see that many asset tracking systems started as paper-based, and now they’ve evolved to IoT-based, Machine-Learning solutions. Even though more and more companies are adopting technology for their asset tracking needs, some companies are falling behind since they still rely on admin staff to know the status of their assets. Whether it be keeping track of assets manually or having to scan from zone to zone, the room for human error remains. An asset tracking system that can provide real-time updates without a barcode scanner can reduce administrative costs. This cost reduction allows staff members to focus more on other critical tasks rather than be worried about their valuable assets.
When commercial companies are able to maximize production efforts, in turn, they increase customer satisfaction. When companies can track and monitor assets, they can improve inventory management, reduce process efficiencies, and improve product quality – all of which make an impact on the customer or end user.
The power of asset tracking in commercial industries involves many moving parts. By adopting an IoT solution, such as AirFinder by Link Labs, companies can harness the power of improved workplace processes to stay ahead of the competition. AirFinder is an affordable solution that works both indoors and outdoors for asset tracking and monitoring. With AirFinder, you not only get the three benefits listed above but many more. If you are interested in learning more about this solution, book a demo with one of our experts.