Asset Management

Identify Locate Track

The accurate identification and management of capital assets and equipment is important to the efficient operation of a business, particularly those such as equipment rental where capital assets generate revenue for the business.

illustration of infrastructure warehouse with truck, loader and boxes

Illustration of infrastructure warehouse with truck, loader and boxes

Consider the use of intermediate bulk containers (IBCs) which are used to carry bulk chemicals both within a chemical production facility, and to customers using those chemicals in their production processes. These IBCs are valuable [capital] assets, and the proper management is important to the asset owner. Companies such as Chep own capital assets of this type and operate leasing programs for a diverse range of customers. Also, identifying and tracking the exemplary IBC can, by extension, lead to the identification and tracking of the goods contained in the IBC; in the example of a chemical storage facility, the real-time location capabilities of ITCS allows you to ensure that specified rules concerning the co-location of particular chemicals are followed, by automatically monitoring and reporting the location of IBCs. Note the trend towards embedding RFID tags in leased assets, exemplified by Ifco Systems embedding tags into pallets.

A further example of monitoring the movement of capital assets is in computer intensive environments, such as financial transaction processing companies, who have so called “server farms.” In these installations, the value of capital assets relative to their size can be significant, so the misplacement or improper routing of a capital asset such as a blade server, received and logged at a goods receiving bay and destined for a particular rack location, can have significant financial implications.

So, if we assume that capital assets are tagged at source by the supplier, following directions from the customer (asset owner), then using ITCS antennas to cover areas of interest (e.g. receiving bay, passageways, etc.), it would be possible to monitor goods being received, automatically reconcile the physical receipt of goods against an Advance Ship Notice (ASN) or purchase order, and then monitor the movements of tagged assets in 3D as they are conveyed to their rack location for installation. An asset management software application could be fed with data from ITCS to allow creation of alerts as a result of the receipt or movement of tagged assets.