Most industries namely FMCG, CPG, utility, construction, manufacturing, mining, and several others have one thing in common-a complex, heterogeneous and fragmented assets. Such circumstances should need integration with a robust and secure IoT platform that can track asset utilisation, location, and condition. As a result, industries can prevent equipment failures before they occur and cause machine downtime.
What makes IoT remote asset monitoring solutions highly effective for industrial operation is predictive maintenance. IoT provides real-time insights and notifications when equipment is on the move or not operating properly. Therefore, you can avoid unexpected machine breakdowns beforehand.
Likewise, there are many benefits that remote monitoring of assets via IoT provides to various industries. However, before beginning with the advantages, let’s have a clear-cut idea about IoT remote asset monitoring.
Asset Monitoring: A Brief Idea
In simple words, asset monitoring is a way to remotely track the operation, process parameters, location, and condition of equipment at a shopfloor, remotest place, or factory with a digital twin of machines and processes. connected hardware and software. Leveraging Internet of Things (IoT) technology for asset monitoring involves tracking the location and status of mobile assets and equipment. An IoT-enabled asset monitoring and management can offer real-time visibility into the condition of critical assets.
Role of IoT in Asset Monitoring
IoT-based asset monitoring use sensors to track the location and status of equipment in real-time. IoT-powered asset tracking uses radio frequency identification (RFID) tags or GPS methodology to collect data on the location of equipment. This data is transferred to a central server, where authorized users can access it.
Asset-tracking IoT solutions provide various benefits, including improving asset utilization, reducing theft and loss, and optimizing asset deployments. As IoT-based asset monitoring will continue to evolve, it is going to be very common in various industries. Remote asset monitoring software is also useful for various applications such as inventory control, security, and fleet management.
Let’s dive into the various benefits of IoT-based remote asset monitoring.
Major Benefits of IoT Remote Asset Monitoring
Enterprises can utilize IoT monitoring to enhance their operations in various ways, spanning from increasing machine uptime to efficient asset maintenance. Remote monitoring utilizing the ecosystem of IoT can provide a range of benefits to businesses.
Check out the following advantages of IoT-powered remote asset monitoring.
Improved Monitoring Quality
One of the core benefits of IoT asset monitoring is how well it conducts tracking. IoT connectivity enables remote and automatic asset monitoring which heavily reduces human interference resulting in decreased manual error. It also reduces risks for your employees who work with machines in risk-prone areas such as high off of the ground or in certain hazardous environments.
Remote asset monitoring can improve security, especially if you embed the asset tracking tag on the equipment. It also provides real-time data that help enterprises to gain actionable insights. The collected data gives the status of the assets so that you can act if needed.
Predictive maintenance is one more key benefit of IoT asset monitoring. It is a data-driven approach that allows users to analyze the condition of the equipment. As a result, it can predict when a machine needs to be serviced. Overall, it helps in significantly improve the asset performance and lifespan.
Enterprises can assist maintenance and reliability in monitoring the health of equipment so that they can avoid immediate breakdowns and unplanned downtime. IoT-based monitoring estimates the time of equipment failure and schedules maintenance which is based on data collected from sensors and predictive algorithms. Integrating predictive maintenance can help you to identify the root cause of problems in assets and in the parts that need to be replaced.
Predictive Maintenance also facilitates condition monitoring. It collects real-time performance data that gives actionable insights into the complex conditions of machines. This data analysis leads to corrective actions that can maximize asset uptime.
Immediate Response to Issues
IoT remote monitoring can help your organization to be more proactive, in identifying issues before they escalate into more serious problems. They can instantly request a modification or schedule a repair, without the customer knowing that anything was even wrong. In this way, they’re going to be fewer chances of equipment failure complaints from customers. Therefore, enterprises become more responsive to issues in assets and customers will appreciate the timely service.
Reduce Maintenance Cost
As already mentineod that IoT allows condition-based monitoring which enables the discovery of degradation in a specific unit beforehand. As a result, manufacturers can have the asset repaired instantly instead of waiting for scheduled maintenance. Hence, enterprises can fix issues before the customer is even aware that there’s a problem.
This IoT-enabled monitoring allows businesses to reduce maintenance costs as early detection of issues saves the machine from major breakdowns. The bigger the issue, the costlier will be your repair. This immediate repair and maintenance can also reduce machine downtime which in return adds to more productivity and efficiency.
Enterprises always look for smart technologies which can help in making the operation effective and agile. This goal is best achievable with IoT remote monitoring with its real-time insight. The IoT sensors collect precise data which you can analyze to gain insights into the condition of machines. In the coming years, more businesses will turn to IoT remote monitoring for its impressive benefits and increase the scope of innovation in their services.
An expert in Industrial IoT solutions, Rejig Digital offers a remote monitoring platform – Accrue which streamlines operations and improves the efficiency of assets. We cater our services in various industries including manufacturing, automotive, BFSI, chemicals, FMCG, healthcare, pharma, power, and transportation.