Asset Management and its Evolution in Organisations: A View to Future

Internet of Things (IoT) is not just a buzzword anymore. It has created buzz in both the commercial and consumer world. IoT enabled smart Asset Management is evolving in organizations for smart decisions, ensuring safety and protection of company assets. IoT enabled Asset Management solution not only does everything that traditional asset management solutions do, such as:

• Letting the organization know where the asset is
• Asset Health/Condition Monitoring
• Control Processes
• Asset Lifecycle Management

But also comprises,

• Real-time alerts
• Remote Asset Tracking
• Data Insights and Analytics
• Asset Workflow Automation
• Predictive Asset Maintenance
• Dynamic Edge Control

There can be various derived solutions of asset management for every specific industry. Such as,

• Hospitals: Key and/or critical assets including machinery, equipment, ambulances, patients, instruments, and more
• Industrial Assets: Trailers, generators, construction equipment, cars, fleets of trucks, and service vehicles
• Shipping and Logistics: Shipping, containers, and goods
• Consumer Products: In-transit pharmaceuticals and electronics

Advantages of IoT enabled Smart Asset Management Solution

• Synergize all data related to asset at one place. All the information related to procurement, health of assets, etc for all the assets are available at the click of the button.
• Real-time notification via alert/email to asset managers for asset maintenance schedule. This reduces outages of the assets.
• Real-time track of asset procurement cost, maintenance and insurance.
• Pro-active verification predictive maintenance. The assets could be well maintained with proper planning, resulting to improved asset performance and life.
• Asset Monitoring also helps organization to keep track of the vendors.
• Track and locate assets real-time on the map.
• An option to discard the assets through auction/sales to retire assets.
• A digital track repository of asset’s life. The manager is notified to renew the insurance when it is about to expire.

Iot enabled Asset Management system empowers asset owners to manage and maintain their assets in an efficient manner. Leaders of organization have a difficult choice to make – onboard proactively or be disrupted by the competition. Involve IoT Asset Management and see the positive impact of it in the business. The reward at the end of the journey is what makes the journey worthwhile.

LetsNurture: One-stop-shop for Asset Management Solutions

At LetsNurture, we are a team of developers, designers, strategizers, digital marketing experts and IoT based solutions providers who provide expert analysis and monitoring to your projects right from its initial stage till delivering the final product. With in-house expertise of skilled developers, we ensure you with unique and exemplary solutions for asset management and much more in real-time.

Get in touch with one of our experts if you want to transform your business by leveraging on the latest emerging technologies. We will be happy to help you!