Development of a Cost-Effective Asset Tracking System Using Suspended Device Signals

The client faces increasing losses due to misplaced or untracked manufacturing equipment, leading to operational inefficiencies and high replacement costs. Traditional dedicated tracking hardware investment is prohibitive, necessitating a scalable, cost-effective solution to monitor asset locations without significant hardware expenditure.

A large manufacturing firm seeking to improve asset management and reduce lost equipment costs through innovative tracking solutions.

• Reduce asset misplacement and loss rates through real-time location tracking.
• Leverage existing device infrastructure to avoid high hardware costs.
• Enhance asset management efficiency and operational transparency.
• Develop a scalable solution adaptable to growing asset inventories.
• Achieve measurable cost savings by minimizing asset recovery efforts.

• Device signal detection capability to infer asset location without dedicated trackers.
• Centralized dashboard to display real-time asset locations and status.
• Automated alerts for assets outside predefined zones or unaccounted assets.
• Asset identification through tagging and signal association.
• Data logging and historical tracking for asset movement patterns.
• User roles and permissions for secure access and management.

• Existing asset management or ERP systems for asset identification
• Notification and alert systems for operational teams
• Device communication protocols for signal detection

• Scalability to support tracking of thousands of assets concurrently
• High system availability with 99.9% uptime
• Secure data transmission and storage complying with industry standards
• Real-time processing latency under 2 seconds
• Ease of system deployment and maintenance

The implementation of this asset tracking solution is expected to significantly reduce equipment loss, leading to operational cost savings and increased asset utilization. Estimated improvements include a 30% reduction in misplaced assets and substantial cost savings from decreased asset recovery efforts, transforming asset management into a more efficient and data-driven process.