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What is an Asset Management system? 

What is an Asset Management system? 

24 March 2022

By: Pankaj Kumar


What is an Asset Management System?

The Asset Management system (AMS) enables optimal asset tracking and management. It aims to improve asset management,  enhance asset utilization, increase productive uptime, and lower operational costs. Asset Management Solution (AMS) is a combination of software, hardware, and services. 

 asset management

The Digital Era brought intelligent devices to the forefront with the Internet of Things (IoT) currently dominating the wall of technological innovations. IoT has redefined innovation by connecting smart objects that transcend physical limitations to drive insights and communication via a unified platform. IoT is a rapidly emerging ecosystem of IP-connected devices that have the potential to drive exponential growth in businesses and bring about progressive changes in our day-to-day activities.

With different AIDC technologies like barcode, RFID, beacons, RTLS, and connected sensors, Intellistride excels in providing end to end solutions to the customers

In a traditional/manual tracking system, the unique item identification number is manually written or printed on an adhesive sticker and pasted onto the items. At every strategic point where the tracking system needs to be posted with a movement, a person manually captures the data and fed into the system which then processes the information to record the locational information of the items.

Asset Tracking System

In IoT based Asset Management Solution, each item is fitted with an RFID tag/beacon/sensor. These are basically electronic radio transmitters comprising of a microchip and an antenna and a tiny battery, everything fabricated on a substrate. It can be easily attached to a variety of items directly. Each of these has its unique identification number and it periodically sends out a radio signal carrying the same. A receiver device detects the signal emitted by each tag as soon as it enters its radio range and interprets the identification number.

  • A number of controllers or gateways are placed at multiple detection points. As the asset passes via choke points, its presence is detected, and respect unique ID is sent to the backend system for further processing.
  • Based on Industry verticals, asset analytics are then presented into the AMS application for user action.
  • Asset management systems maintain infrastructure in sound and reliable conditions. Minimized life cycle costs can significantly reduce operating and maintenance costs and long-term capital expenses. An Asset Management system is necessary for streamlining many processes, as physical assets are involved in almost any workflow.

The main benefits of an efficient Asset Management system can be summarized as follows:

  • Maintenance Planning
  • Lifecycle Management
  • Real-time Tracking
  • In-depth Reporting
  • Seamless Workload Distribution
  • User-friendly Interface
  • Mobile Compatibility

Based on the type and importance of assets, AMS has been a proven solution for the following verticals:

1. IT Asset Tracking

For one global information technology company, tracking IT assets had become an urgent problem. As an organization that runs on information technology, the company operates data centres worldwide that both support and enable its global businesses. The use of these IT systems and the assets that drive them requires the company to efficiently manage critical resource tracking and security endeavours.

Without Asset Tracking, IT staff spend more time searching for IT assets rather than on their core responsibilities.

We, as Intellistride, help to reduce the time and resources required for the inventory of IT assets.

2. Manufacturing

 With increased market demands, the manufacturer should also increase their production throughputs. For this, it is important that the right materials, tools, and equipment must be available at right time and at the right place i.e., pre-production, production, and post-production.

Intellistride offers all necessary components and tools from one source enabling us to provide our customers and partners with the most powerful solutions. From track-and-trace visualization to seamlessly incorporating any kind of identification technology — including solutions such as barcode readers, active RFID systems and wide area network technologies — we combine the best suitable features and generate interfaces with all kinds of ERP systems.

3. Transportation

 Each country, government, community, and city have its domestic and urban requirements in regard to Intelligent Transportation on the roads. Based on the customer needs, Intellistride offers a broad portfolio of ITS scenarios:

  • ITS: Intelligent Transportation Systems
  • ETC: Electronic Toll Collection
  • EVR: Electronic Vehicle Registration
  • EVI: Electronic Vehicle Identification
  • AVI: Automated Vehicle Identification
  • IPI: Intelligent Parking Interface
  • SCA: Smart City Applications
  • PTS: Public Transportation Systems

 

4. Construction

There are a lot of moving parts in the construction industry such as people, large equipment, and tons of materials. Any of these parts could act as a bottleneck, delaying the project and resulting in huge profit losses. Especially where equipment is concerned, the construction industry needs a better solution and IoT is the answer. Intellistride offerings in construction equipment tracking will enable companies to increase productivity, lower maintenance costs, eliminate security concerns, and improve worker safety.

5. Healthcare

Intellistride provides an efficient, cost-effective information system to support best practices in inpatient service from admissions and administration, through points of care to managing equipment and supplies.

There can be various assets in Healthcare Industry like surgical equipment, medical equipment, laundry, medicines, specimens etc.

6. Logistics

By delivering goods, inside the premise as well as outside the premise, in time, logistics directly contribute to organizational growth.

With different technology, Intellistride offers a wide range of tracking options in logistics which helps organizations to deliver goods in time.

7. Oil & Gas

Intellistride offerings in the oil and gas sector can improve safety and amplify profits simultaneously, with asset tracking and predictive maintenance solutions having the greatest impact on outcomes. With Intellistride ’s real-time tracking and remote monitoring solution, O&G industries can take predictive and preventive measures on time and thus leading to better health and safety programs.

8. Retail

The retail industry is seeing a rapid transformation, with The Internet of Things (IoT) solutions taking the center stage in the sector. Having plenty of applications, Intellistride helps in increasing customer loyalty, boosting sales, offering a personalized experience, and improving inventory management.

With Beacons, digital signage, in-house developed smart shelves, and Smart PoS, we help in improving asset visibility from warehouse to sale.

IntelliStride

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