Each industry vertical has its own specific set of challenges in monitoring and managing assets. For Telecommunication, energy, and utility companies, tools and equipment used by their service technicians on the field are the critical assets to be tracked. In the supply chain industry, consumer goods, each palette is a critical asset, which directly impacts operational efficiency and revenues. Similarly, fuel, vehicles, delivery parcels, people, raw materials, finished goods are essential assets to be tracked and monitored for other industries.
Currently, deregulation and economic uncertainties are rocking the asset-heavy industries. In such a challenging scenario, the adoption of IoT-enabled asset management solutions with real-time asset visibility and control is a crucial step towards predictable performance.
IoT powered Smart Asset Management
Built to withstand industrial use with futuristic efficiency
Nivid’s N-Smart Solution is an end-to-end unified asset management platform including asset onboarding, tracking, and reporting. N-Smart is a robust and technology-agnostic platform that works on various sensors and connectivity, addressing critical customers’ needs to track assets in both indoor and outdoor environment.
The N-Smart IoT platform is an open-source, component-based solution with essential components, that includes
Device Management: This component of our solution manages the onboarding till retiring of any devices, sensors (temperature, weight, pressure, humidity, location), RF tags, hubs (gateways), and connectivity (LTE, NB-IoT, LoRA, Bluetooth). All the properties and attributes of the devices / sensors are captured and onboarded in a Device farm, then these devices/sensors can be assigned to multiple asset management use case across the enterprise. For example, a Fuel flow sensor can be mapped to fuel monitoring use case and a BLE tag can be mapped to asset tracking use case.
Maps: N-Smart incorporates APIs that deliver more functionality than just a dot on the map. Utilizing the map component, users can define geofencing, routing, tracking frequency to calculate the Estimated Time of Arrival and apply rules for managing asset movement.
Data: The platform receives data from the devices and sensors directly or through gateways based on defined data capture frequency. Organizing, managing, and governance of data are critical for the Asset Management initiatives. N-Smart’s generic data management model facilitates integration, parsing, and standardization of large data volumes from disparate sources for enabling data exchange and interoperability, with the highest level of security in compliance with globally recognized standards to protect data privacy.
Rule Engine: Our Solution has a well-defined rules engine to manage all scenarios and create alerts workflows. This is instrumental in triggering actions based on outcomes for different scenarios to ensure asset safety (missing, theft) and condition monitoring (cold storage, maintenance schedule).
Analytics: Using advanced data analytics tools, N-Smart transforms the data into useful information to predict risks and trigger alert-based workflows. N-Smart comes with operational dashboards and capabilities for complex event processing.
Business Application: N-Smart provides integration using Open API’s, with other business systems currently used by the enterprise (ERP, CRM) for asset administration. The solution has in-built widgets that can be used to create customized workflows and generate reports.
Benefits of Smart Asset Management
- Realtime visibility
- Monitor asset condition
- Establish chain of custody of the assets
- Prevent asset lost and theft scenarios
- Get real time alters
- Predictive maintenance of assets
- Improved asset usage and efficiency
Get started the right way
There are many asset management solutions in the market. The first challenge most organizations face is choosing the right technology for asset management and tracking. Even after choosing the right technology, setting up the infrastructure for your asset tracking solution is the next challenge that follows. A lot of planning goes into successfully implementing an asset tracking system that meets your needs. Apart from that, you have to choose the right vendors for quality hardware, have a robust platform in place to collect data from sensors and get intelligence from it.
What you need is an end-to-end IoT solutions provider, who can deliver full-lifecycle support right from procurement to maintenance and just offer you a holistic asset management solution.
Nivid Technologies has been successfully implementing IoT based asset management solutions for years with a long list of satisfied and happy customers. Our solutions are tailored specially to match your specific needs and requirements. For businesses, this directly translates into improved operational efficiencies, customer experience, and better ROI at a much lower TCO.
Get in touch with us today for a free consultation.