Supply Chain Asset Visibility & Tracking Solutions
Today’s supply chain challenges call for highly targeted, data-driven insights. Asset visibility is especially important, given the shocking industry averages for untracked asset loss: an unacceptable 30%.
Despite this, only 34% of organizations are currently tackling asset visibility gaps by implementing systematic strategies. Without immediate action, these businesses risk lost assets, reduced productivity, and even compliance violations.
Swift improvements can be achieved by implementing advanced asset tracking solutions. A non-negotiable for modern supply chain management, tailored asset tracking systems are configurable, cost-effective, and capable of providing much-needed peace of mind in an era of constant shortages and delays.
Benefits of Asset Visibility Solutions
From production to recycling and every step in between, asset visibility solutions deliver actionable insights through every stage of the asset lifecycle. This data provides a variety of compelling benefits, such as:
Real-Time Asset Visibility
Asset visibility solutions produce a wealth of real-time insights that can alert leaders to potential problems — and provide opportunities to address these issues quickly and effectively. Without end-to-end supply chain visibility, these concerns can be easy to miss until they create a ripple effect that produces major consequences. From location data to status updates to asset temperature, tracking technology is non-negotiable in today’s complex and competitive logistics environment.
Reduced Number of Lost Assets
With greater visibility comes a reduced likelihood of losing critical assets. This is arguably one of the greatest benefits to this visibility, as lost assets are not only expensive and inconvenient, but also problematic from the standpoint of customer satisfaction and brand reputation. By pinpointing asset location, it’s possible to make such losses a thing of the past.
Reduced Asset Management Costs
Effective asset management will remain out of reach unless there’s a clear indication as to the location and status of all equipment, inventory, and personnel. Without this basic information, seemingly straightforward management procedures can quickly get bogged down in unforeseen disruptions and other complications.
Issues with lost, stolen, or damaged assets lead not only to wasted time and expensive replacements, but also, higher shipping and transportation costs — and, in general, a reduced return on investment. As such, asset visibility rests at the heart of cost-effective asset management.
Improved Productivity and Efficiency
Poorly designed asset tracking measures often amplify the very problem they’re meant to solve: wasted time and resources. Once assets are lost, it takes considerable effort to track them down or replace them. When employees are freed from this hassle, they are better able to focus on their work, and ultimately, better positioned to pick up the pace. This can lead to huge gains in productivity, which are further amplified by shedding time-consuming processes such as manual stock counting.
Improve Carbon Footprint
The logistics industry has an unfortunate reputation for contributing significantly to greenhouse gas emissions. This problem can be helped, however, with strong tracking. This should reveal where waste is most likely to occur and how key processes can be optimized to limit resource consumption. Sustainable solutions don’t have to feel like a pipe dream — with the right solutions, they are absolutely within reach.
Industry Standard Compliance
Regulatory compliance is a huge source of concern for enterprises across all sectors, especially given the current scope of supply chain challenges. It takes extra insight and quick responses to remain compliant with an ever-changing array of rules, regulations, and standards. Effective asset visibility solutions can reveal when compliance violations are likely, while also promoting the orderly, streamlined processes that can make such violations easy to avoid.
How it Works
Peak Asset Insights center around a suite of high-level technologies designed to provide end-to-end asset visibility. Solutions such as Real-Time Location Systems (RTLS) and Radio Frequency Identification (RFID) can be deployed strategically to better understand complex operations. Implementation can look dramatically different from one business to the next, but the goal is always to provide a tailored strategy that takes current pain points into account.
Our dedicated team can not only design and implement comprehensive asset visibility solutions, but also, optimize maintenance and management so that these systems deliver positive results far into the future.
Use Cases
Asset visibility solutions bring significant value to organizations of all sizes and across a myriad of sectors. Examples include:
Retail
From tracking on-shelf availability to overseeing key equipment such as point of sale (POS) systems, these solutions bring much-needed visibility to a quickly-changing industry that's notoriously prone to asset loss.
Manufacturing
Work-in-progress (WIP) inventory can be highly vulnerable to costly bottlenecks. Proper tracking limits these by improving resource utilization and avoiding waste or delays.
Transportation & logistics
High-level solutions such as cold chain monitoring, asset temperature tracking, and load matching optimization can boost transportation & logistics procedures, leading to expedited multimodal transport and a reduced likelihood of inventory shrinkage.
Healthcare and pharmaceuticals
Asset visibility solutions optimize monitoring procedures to ensure that medications are properly stored and handled. This is crucial from a compliance standpoint and can even improve medication adherence.
Work with Peak Technologies to Improve Asset Visibility
Is asset visibility a point of concern for your business? You’ll be amazed by the gains that are possible when you work with the experts at Peak Technologies.
From design to deployment and every step in between, we can assist with every component of the asset lifecycle. We’ll help you determine which solutions are best-suited to your organization and how these can be optimized to drive real, long-term value.
Don’t leave your organization vulnerable to asset loss. Get in touch with our specialists to learn more about the value-driven asset solutions of tomorrow.
