Managing the assets in any automobile industry has never been easy with the implementation of IoT technology. Gone are the days where the asset manager or the floor engineer cannot exactly predict the status or whereabouts of their auto machinery parts in varied weather conditions.
Asset Management gives in-depth visibility to take an informed decision to buy a new asset in the most cost-effective way and offer a streamlined approach to manage already existing assets.
“Increase Your Operational Efficiency and Decrease The Equipment Loss”
Streamlining any organization whether big or small needs to scrutinize the wasteful or unwanted investments effectively. It ensures to make the long term and short term goals more attainable and feasible. With Asset management solutions, all the asset types can be monitored and tracked accordingly.
Fixed Assets are the physical items that are non-movable like the vehicles, plants, machinery parts, along with the technical control and software systems that serve a business organization. Many organizations embracing the IoT solution to transform into an effective digital workplace.
All types of vehicle fleets are managed and monitored by movable assets type. Movable assets provide a systematic approach to managing every asset in the fleet for easy tracking. With a group of vehicles of cars, heavy-duty machinery, an indispensable fleet management solution is essential.
All sorts of cash flow are categorized under the Current Assets type. Any prepaid accounts, short term investments, cash payments, accounts that will be used in the near future are measured using this type.
Like the fixed assets and movable assets which focus on the physical machinery parts of the automobile industry, assessing the human resource system is also mandatory. To have a healthy working environment and professional workflow, an upskilled talent pool of engineers and fleet managers is inevitable.
IoT enabled Asset management system paves way for a connected eco-systems in the automobile industry. It saves fuel efficiency by rerouting the drivers to fewer traffic directions with less commute time. IoT sensors also detect the behavior patterns of drivers and alert them if it finds they doze off behind the wheel.
Hence, the Internet of Things has become an integral part of the automobile industry with an asset management solution. Through these various types of asset monitoring solutions, the value of every business entity can be clearly measured and analyzed for making the important decision making. This asset tracking increases the operational excellence that aptly aligns with the customer’s requirement and demand.
Source: Aithority
ASSETCOMPLY helps industries with fixed asset tagging, physical verification, maintenance management, depreciation management with fixed asset tracking software. Scheduled maintenance and AMC management of the fixed assets reduces breakdowns and downtime increasing the productivity of the plant. Find out how we can help you adopt IoT and take you closer to industry 4.0.
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