Our customer is a major technology, engineering, construction, manufacturing, and financial services conglomerate, with global operations. It addresses critical needs in key sectors – Hydrocarbon, Infrastructure, Power, Process Industries and Defence – for customers in over 30 countries around the world.
Managing project and work execution can be difficult due to limited information or equipment, the company reports and is further complicated when multiple projects are underway at any given time. In some cases, work may be pulled ahead of schedule or out of sequence—for example, if the equipment necessary to make a specific job become available, in which case that item could be created and then wait in the laydown yard. Locating machinery and equipment, however, was not always easy.
Asset management is a vital strategy for improving company revenue for several reasons. First, asset tracking streamlines your operations and reduces time wasted on inefficient tracking methods, such as manually entering assets in a spreadsheet or letting only a handful of individuals deal with assets (which can lead to oversights and discrepancies).
Our customer spent several months carrying out preliminary testing of hardware and software, in order to ascertain the appropriate mix. In designing the pilot the group sought tags and smartphones readers that would enable staff members to locate tagged items quickly within the 50 facilities in India, whether in the shop or in laydown areas. The team selected Smartx HUB as a cloud platform and trained the staff.
Through the asset inventory system:
Saving money and bypassing budget issues
When constructions have an asset management system in place that’s not manual, it will help save money in a variety of ways, including paying employees for multiple hours of manual tracking as well as helping to keep the budget predictable and steady.
Tracking down stolen, lost, or missing assets
It can be impossible to find assets which have been lost, stolen, or are simply missing (known as ghost assets). With robust asset software, educational institutions can track these items down and ensure they’re accounted for within the database.
Enforcing accountability for anyone who touches assets
Many times, manual asset tracking means someone forgets to mark down who last used or touched an asset, which means that a person can’t be held accountable should something go wrong. This situation is significantly reduced when everyone is required to properly track and record their asset usage in the asset tracking system.
Keeping everything in a centralized database accessible by as many users as needed
With manual asset tracking, contractors and staff must usually be able to access the job sites’ local network to edit their asset spreadsheets. But a cloud-based platform means as many of these professionals as a school needs can keep track of assets from wherever they are, whenever they need to.