Asset Tracking by Industry

Both Business and Governmental entities achieve total asset visibility through Lifecycle Asset Management, which is the process of monitoring, controlling, and accounting for all assets starting at the time that funds are obligated and continuing through until that asset is retired and disposed.  Below are key asset tracking applications utilized in a variety of different industries

Commercial Businesses

Corporations utilize asset management to manage the location, utilization and value of their fixed, physical and accountable assets that have a direct and positive impact on overall corporate financial operations.  Compliance requirements and mandated auditing practices call for accurate reporting of asset value on the corporate balance sheet.  Nonetheless, it is recognized that unrealized and undelivered value of the corporate asset base is hindered by this manual, data-deprived processes.

Federal Government:

Federal Government agencies utilize asset management requirements to track war fighter systems, supplies and armament; logistic, repair and maintenance needs; tools; emergency systems; communications systems; vehicles and heavy equipment; returnable containers; IT assets; entire building contents.  

State and Local Government:

At the State and Local levels, key asset management application areas include plant, equipment and infrastructure; furniture and fixtures; IT systems; emergency systems and protective equipment; document archival and evidence tracking. 

Industrial

Industrial and manufacturing businesses have unique and demanding asset tracking and management requirements.  Failure to keep equipment well maintained could adversely affect utilization levels and sales revenues for businesses. Accordingly, extending asset lifecycles becomes is a key objective along with focusing on proactive maintenance and decreasing reactive maintenance and unplanned downtime.

Healthcare

The Healthcare Industry is challenged with meeting the tracking needs of medical and scientific equipment. Notably, an absence of available and dedicated asset management tools that provide broad access to asset management data with an integrated and flexible web interfaces is common.  Sophisticated and expensive medical systems that require the highest levels of availability and accountability are key reasons to consider dedicated asset management systems

Education

Educational institutions face a broad range of maintenance and asset control issues from facilities management to IT equipment tracking. Tracking personal property equipment, fixed assets and other mobile assets are key practices required to increase physical and financial accountability in everyday asset control activities.