Making Inventory Management Smart With IoT Asset Management

On this page you will find information on the following topics:

• How IoT Sensor Technology Provides a Better Overview for Companies
• Asset Tracking in the Enterprise as the Next Level
• Integrating IoT Assets With Timly
• IoT Solutions – These Are the Benefits
• Smart Sensors: IoT Provides Important Data
• IoT: It Pays to Compare
• IoT Asset Management: Taking Inventory Management to the Next Level

How IoT Sensor Technology Provides a Better Overview for Companies

IoT asset management is a good example of how modern technology is gradually spreading into all areas of life. While employees wear smart watches on their bodies that permanently record data such as pulse and body temperature, the collection of important data in working life is often still done manually, for example on handwritten lists. However, the use of smart sensors to collect a wide variety of data is now possible in companies without much effort.

Resourceful software companies such as Timly, one of the pioneers in the field of digital inventory management, have long since integrated corresponding functions into their software solutions. This makes it possible to collect and permanently document the locations and performance data of machines in real time. This is done quite incidentally and without any personnel effort. This article explains why IoT asset management is becoming increasingly important in practice.

Asset Tracking in the Enterprise as the Next Level

The Internet of Things (IoT) enables the integration of smart, network-based technology in everyday objects. These can be lamps and door locks that can be operated remotely and can query operating states or link them to events. In working life, this can also be retrofitted to common machines by integrating sensors (IoT-in-asset).

A common example is the GPS tracker, which permanently reports its location to a central server. But other sensors can also be used sensibly in the professional environment. Smart temperature and humidity measuring devices, for example, help to monitor the proper functioning of valuable machines. Other measured values can relate to consumption and fill levels.

Integrated into a smart system such as Timly, limit values can be specified in IoT asset management, which, if exceeded or undershot, lead to an automated notification of those responsible. Manual recording of consumption data for business management purposes in Excel tables is also no longer necessary. All collected data remains in the history of the asset. This makes it easy to comprehensively determine ongoing machine costs.

Integrating IoT Assets With Timly

Timly is a holistic inventory app. With it, all conceivable assets can be sensibly recorded and managed. The profiles of individual items are so flexible that they can be adapted for any application purpose. All data records are stored on a GDPR-compliant cloud platform. As a result, information for recorded assets can be retrieved with any internet-enabled device – regardless of access to the company’s internal network.

The profiles of individual assets can be accessed on site by scanning a permanently assigned QR code, which can be attached to the device with a space-saving sticker. A special barcode scanner is not absolutely necessary. The Timly app is available for smartphones and tablets. This makes it possible to scan the QR code with the camera of the mobile device and thus access the data stock of an asset. This allows relevant device information to be called up, added to and forwarded in real time.

The software accompanies each device for its life cycle in the company. A calendar manages maintenance and inspection dates. Asset tracking makes it possible to follow repair processes. Using the system on site at the customer or in the home office is no problem. Thanks to the cloud-based data collection in IoT asset management, only an internet connection is necessary.

IoT Solutions – These Are the Benefits

The use of smart IoT solutions in companies guarantees advantages in various areas:

1. Conservation of Resources:

The service life of machines and tools is increased when important operating states are permanently collected and monitored through IoT asset management. In addition, asset tracking ensures that locations and persons responsible for machines are always up-to-date. Experience has shown that personal responsibility promotes the careful use of work equipment.

2. Time Saving

If checklists have to be processed manually when machines are taken over, this costs valuable working time. In case of doubt, even several times a day. This either causes delays in the actual execution of planned work or there is a risk that checks will not be carried out due to lack of time.

3. Easier Scheduling

If the location, current condition of a piece of work equipment and possible upcoming maintenance dates are linked in a system, it is sufficient for a dispatcher to take a look at the Timly software. There he can see in real time where a piece of equipment is located and whether it is available for further tasks. Errors in planning are virtually eliminated.

4. Protection Against Theft and Loss

An IoT device makes it possible to determine the current location of a device in a matter of seconds. This makes theft more difficult and protects against accidental abandonment at the customer’s premises or on the construction site.

5. Comprehensive Database

From a business perspective, it is valuable to have a holistic view of running costs, repair susceptibility and service life of work equipment. Thanks to IoT asset management with Timly, managers can easily determine how effective a machine or tool really is.

Smart Sensors: IoT Provides Important Data

Timly uses IoT technology from its partner company adnexo for IoT asset management. This has the advantage that only mature sensors are used that are one hundred percent compatible with Timly’s software package. The following devices are available for different purposes:

– GPS trackers and distance measuring devices: These are used to record locations and distances covered. In addition to the localisation of work equipment, this also greatly simplifies accounting within orders or for rental equipment.

– Optical distance measuring devices: The IoT device measures short distances very precisely, which enables, for example, a level control for operating equipment.

– Temperature and humidity sensor: With this type of sensor, the operating temperature, ambient temperature and humidity in sensitive areas can be reliably detected and reported on by Timly.

– Air quality sensor: To protect employees or sensitive equipment, this type of sensor can record the air quality and send warning messages via Timly when critical values are reached.

IoT: It Pays to Compare

IoT asset management is becoming more popular, which also increases the number of providers on the market. Large companies often rely on acquiring smaller providers or partnering with other technology companies. It pays to compare carefully before adopting IoT asset management.

Timly has focused exclusively on digital inventory management from the beginning. It does not represent one of many business areas there. Customers appreciate the resulting innovativeness and quality of service. The support of companies that rely on Timly by no means ends with the conclusion of a software contract, as is unfortunately often the case with large providers.

The lively exchange between users and developers always leads to the improvement and expansion of functions. This also applies to IoT-based asset management.