RFID in the oil and gas industry Enable cost-effective real-time tracking of every asset In the Oil and Gas industry,
Inventory can be taken whenever it best benefits the business — quarterly, monthly or even weekly. The accurate and timely inventory data provides the information enterprises need to properly account for and depreciate assets on tax returns, maximizing tax savings, preventing the inadvertent over payment of taxes and ensuring compliance with financial business reporting laws.
Automate your organization's fixed asset tracking for improved check-in/check-out processes, control maintenance, faster auditing, and error-free reporting.
Due dates, maintenance schedules, and owners. Use RFID or barcode scanning to instantly view all the information about specific leased equipment. Assign assets to specific customers for easier tracking and monitoring.
Ensure your equipment is used right and returned on time. Access all the information you need about your leased equipment. Anytime, anywhere.
Whether online or through our Mobile App, you and your team have on-demand access to asset information anytime, from anywhere, on the smartphones, tablets and computers you’re already using.
Track rental equipment to ensure assets are returned on time and analyze utilization data to optimize the balance between capital and rental equipment—significantly lowering operational costs.
With the necessary hardware and technology, such as RFID handheld readers, tagged equipment can be scanned in on arrival and then scanned once it's returned back to the hire company. The data that this collects can pin point the location of each item and ensure both parties have visibility of what has been returned successfully.
Audits, spot audits and inventory counts achieve (or approach) 100% accuracy and completeness. Regulatory compliance is as a result much easier to meet.
Audits and inventory counts are completed 50-90% faster than counts done with manual or bar code methods, saving both valuable personnel hours and substantial auditing cost.
The ability to virtually automate asset management practically eliminates the need for staff to spend time inventorying assets and tracking down specific assets that are lost or misplaced, or require maintenance, repair or destroying. Some customers have reported as much as a 95 percent reduction in asset tracking time.
RFID technology enables the fast idenfication of items which move between different sites, so inventory can be recorded accurately on leaving and returning to site. This ensures that inventory levels remain up to date at all times eliminating errors typically associated with manual processes.
By placing RFID readers at warehouse doors where items typically enter and leave, all RFID tags that pass will be picked up and recorded. Not only can this be done without any physical human interaction, but it means a large number of items can be read at once and therefore valuable information regarding inventory volumes can be processed a lot quicker.
A lorry-load of equipment can be scanned using RFID readers without slowing the loading process down by unloading and physically scanning each item. This information can be used to compare against a manifest to highlight any items that are missing or equipment that isn't meant to be in a particular load.
Using RFID technology to monitor in-coming and out-going goods can also help the service provider or user avoid returning the wrong items or delaying any appointments due to missing items.
Having the means to understand when planned maintenance should be scheduled, based on the usage of an asset, can help keep equipment running reliably and mitigates the risk of unplanned outages, which are a major source of delays.
Utilization reports generated by asset tracking solutions provide this means and allow you to adopt a preventative and predictive approach to service and maintenance as opposed to a break/fix service structure.
Monitor and analyze equipment utilization data across job sites against contract agreements and improve customer service through accurate billing.
Create detailed reports such as monthly movements.