Tag Archives: ‘asset tracking’

Cost Savings through QR Code-Based Asset Tracking

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QR Code based Asset inventory
In the ever-evolving landscape of business operations, efficiency and cost-effectiveness are paramount. Many companies are turning to innovative solutions like QR code-based asset tracking to streamline processes and reduce operational costs. Let’s explore how adopting this technology has enabled businesses across various sectors to achieve significant savings.

Case Study 1: Manufacturing Sector

Company Profile:
A medium-sized manufacturing firm with multiple production facilities and extensive machinery.

Challenge:
The company faced challenges in tracking the usage and maintenance schedules of machinery across different sites. Manual record-keeping led to discrepancies, delays in maintenance, and increased downtime.

Solution:
Implemented a QR code-based asset tracking system integrated with their existing maintenance management software. Each machine was tagged with a QR code linked to a digital profile containing maintenance logs, service schedules, and operational data.

Results:

  • Reduced Downtime: By monitoring maintenance needs in real-time, the company minimized unplanned downtime by 30%, leading to increased productivity.
  • Improved Maintenance Efficiency: Scheduled maintenance became more efficient, reducing overall maintenance costs by 20% annually.
  • Inventory Optimization: Better tracking of spare parts and consumables lowered inventory costs by 15%.

Case Study 2: Logistics and Transportation

Company Profile:
A logistics company specializing in warehousing and distribution services.

Challenge:
Tracking and managing a vast inventory of goods across multiple warehouses and during transit was cumbersome and prone to errors. This led to inefficiencies in order fulfillment and increased operational costs.

Solution:
Deployed a QR code-based inventory management system that enabled real-time tracking from warehouse to delivery.

Results:

  • Enhanced Inventory Accuracy: Reduced inventory discrepancies by 25%, minimizing stockouts and overstock situations.
  • Optimized Route Planning: Improved asset visibility allowed for optimized route planning, reducing fuel consumption and transportation costs by 15%.
  • Faster Order Processing: Streamlined order picking and fulfillment processes increased operational efficiency, leading to faster turnaround times and improved customer satisfaction.

Case Study 3: Healthcare Sector

Company Profile:
A network of hospitals and clinics facing challenges in managing medical equipment and supplies.

Challenge:
Ensuring timely availability and tracking the usage of medical equipment and supplies across different healthcare facilities was critical for patient care and operational efficiency.

Solution:
Implemented a QR code-based asset tracking system integrated with their inventory management software and patient records system.

Results:

  • Improved Asset Utilization: Optimized usage of medical equipment reduced unnecessary purchases and extended equipment lifespan, resulting in cost savings of 18%.
  • Enhanced Patient Care: Timely availability of critical supplies improved patient care outcomes and reduced emergency procurement costs.
  • Regulatory Compliance: Maintained compliance with healthcare regulations by tracking equipment maintenance and usage history seamlessly.

Conclusion

Across diverse industries, adopting QR code-based asset tracking systems has proven instrumental in driving operational efficiency and achieving substantial cost savings. Whether in manufacturing, logistics, healthcare, or beyond, companies have reaped the benefits of real-time visibility, improved inventory management, and streamlined operations. By leveraging technology to enhance asset tracking capabilities, businesses not only reduce costs but also position themselves for sustained growth and competitiveness in today’s dynamic marketplace.

Ready to transform your operations and unlock cost-saving opportunities? Try INDTRAC QR App for free. Call us for any help you need.

Custom QR Code design for enterprise

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Recently we received a request where the customer needed to track hundred thousands of assets under its inventory. They added a few of constraints.  One of them was that the tags had to withstand extreme weather. The environmental temperature ranged above normal range of temperature. It also had to be water-proof.

They had another requirement, the tag had to have some specific text and design. We felt that this may be a need for many enterprises struggling to inventory their assets with a really low budget but with a specific design requirement. The simplest of them would be that the tag show the logo of the enterprise.

To cater to these needs, we launched our bulk QR Code design service where INDTRAC will deliver finished QR Code tags with custom design and size to the customer. Needless to add, these tags would be usable with INDTRAC QR App for tracking those assets.

As usual our promise for the low cost of ownership for the customer holds for this service as well.

How to track asset states digitally

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Manage assets from your phone

Recently we met a factory floor shop manager. We asked how he keeps track of so many equipment and instruments. Does he use any system to identify and track them?

He said in his mind he knows where each asset on the floor, is and since they are all inside the workshop area, he knows he can track any asset without much difficulty.

We asked what are the typical lifecycle states of each equipment and how he keeps track of which asset is in at what stage? He had a little difficulty in explaining that workshop maintains a book and whenever an asset is decommissioned or in service, an entry is made in the book.

Do you see any issue with the way assets are managed?

Obviously there is no digital inventorization of the workshop assets. Nor the manager can know if any asset is taken out of the floor or if an asset has returned after service in last few hours unless he manually searches.

You obviously can do better.

All assets can be digitally tracked with a simple QR Code. Added advantage is no need to keep books manually.

INDTRAC App lets you define your asset life cycle stages.

Let’s assume almost all assets on the floor, go through the following stages:

  1. Check-in
  2. In use
  3. In-service
  4. Decommissioned

In INDTRAC App, go to Admin -> Workflow States. Click Create

In the Add Workflow States, Add Check-in as Name and Asset ready for Provisioning as Description. Click Submit. Create other states likewise.

Now when you scan the Asset’s QR Code to update location, App will prompt to pick the Workflow States too.

In the Manage Asset tab, you can view the current state of any asset by selecting the asset from the list (after search) and clicking Current Location button.

Location History shows past locations and states that the asset has undergone.

As you can see, with INDTRAC App, entire asset tracking can be done digitally without wasting time in manual record keeping since the App itself now keeps the record. Moreover you do not need anything else other than the INDTRAC QR App to make this transformation.

  Start your digital transformation journey with INDTRAC QR App alone.

How QR Code helps small businesses in efficiently managing assets

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App based asset trackingIn small businesses capital good and assets are major investments. Managing them efficiently should therefore be of paramount importance. Paper-based way of asset tracking and record keeping is time-consuming if not error-prone and costly.
Using QR Code can make the process simple, fast and entirely digital. It can streamline processes, improve worker productivity, enhance asset traceability, ensure accurate record keeping and importantly deliver cost reduction due to higher asset utilization and reduced worker downtime.

In a typical case, the asset manager uses a smartphone App to generate QR Code for each asset. He/She prints them and fixes each QR code on respective asset. Now workers start using the App to update current status. The Asset manager can track all assets from his smartphone from anywhere in real-time.

In a recent survey, organizations acknowledged the challenges they faced in maintaining accurate asset records. QR code-based digital asset tracking systems alleviate these issues by automating the data capture process. Every time an asset is scanned, relevant information such as location, maintenance history, and user details are recorded digitally, ensuring a comprehensive and reliable record-keeping system. This accuracy not only saves time but also improves overall data integrity.

A study claimed that businesses can reduce asset loss by up to 50% through effective tracking and management.

In summary,

  1. One can  create, print, label and track existing assets using QR codes at a marginal cost of RFID based system.
  2. QR Codes are extremely convenient as they can be accessed and generated through mobile App
  3. QR Codes are a lot more resilient and flexible compared to bar codes.
  4. App can help one to customize alerts / notifications to track asset check-in / check-outs.
  5. QR code also help one to track asset service dates and asset service renewal dates using real-time App notifications.
  6. One major benefit is that using QR Code, the organization can easily monitor asset’s condition digitally throughout the asset’s life. With asset audit becoming entirely digital, business’s ability to plan ahead for future procurement becomes so much easier.

INDTRAC QR Code App helps businesses track their assets digitally with QR Code alone.

Product Launch Announcement

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In a few days, INDTRAC QR Code would be available for you to try. What is it? It is an intuitive QR-code App for asset tracking.

How is it different?

  1. This App is all that you need. No other software or hardware needed. No special hardware like RFID readers are required, which means you do not need to budget for time-consuming in-location installation. Just download, add your assets and start tracking.
  2. In most QR Code App,  only QR code scanner is provided. For generating QR Code you have to request in some other page.  With this App, you have both scanner and generator. Moreover there is no permission to be requested. Use the App alone to generate and download the QR Code. Print it anywhere and on any material suitable for your use.
  3. App is designed for self-provisioning. So you alone can provision the App for all your assets. Invite your users and see all your assets’ movement inside your App. For extensive product features, please see the brochure

   Quite Importantly, trial is free, and no credit card is required!

What is RTLS? – This is what ChatGPT says!

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OpenAI ChatGPT logoChatGPT is making a lot of waves. So I thought why not try ChatGPT to answer some basics about RTLS. Here are some excerpts, a little lengthy for my comfort but to be frank, composition and style are comparable to any good marketing content!

Question : What is RTLS?

ChatGPT :

Real-Time Location Systems (RTLS) are a set of technologies and systems that are used to track and monitor the location of people, assets, and equipment in real-time. RTLS typically use a combination of technologies such as radio frequency identification (RFID), WiFi, Bluetooth, and GPS to determine the location of a specific item or person. The data from RTLS is then used to improve operational efficiency, increase safety and security, and provide real-time data to support decision making.

There are several different types of RTLS, including:

  • Active RTLS: which use active tags that actively transmit their location to a reader or a network of readers.
  • Passive RTLS: which use passive tags that only transmit their location when prompted by a reader.
  • Hybrid RTLS: which combine active and passive tags in order to take advantage of the strengths of both types of tags.

RTLS technology is widely used in various industries such as healthcare, manufacturing, transportation, retail, and logistics, among others. It can be used for tasks such as tracking inventory, monitoring the location of employees, and tracking the location of vehicles and equipment.

Question : What would a good RTLS for healthcare do?

ChatGPT :

A Real-Time Location System (RTLS) for healthcare would be designed to track and monitor the location of people, assets, and equipment in a healthcare setting, in real-time. The specific functionality of an RTLS for healthcare can vary depending on the specific needs of the healthcare organization, but some common uses include:

  1. Asset tracking: RTLS can be used to track the location and movement of medical equipment, such as wheelchairs and beds, as well as high-value assets like surgical instruments. This can help to improve equipment utilization and reduce the time and effort required to locate equipment.
  2. Staff tracking: RTLS can be used to track the location of nurses, doctors, and other staff members, which can help to improve communication, collaboration, and patient care.
  3. Patient tracking: RTLS can be used to track the location of patients, including those in critical care, which can help to improve patient safety and reduce the risk of errors.
  4. Environmental monitoring: RTLS can be used to monitor the environment, such as temperature, humidity, and air pressure, to ensure that the conditions are appropriate for patients and equipment.
  5. Safety and security: RTLS can be used to monitor the location of staff, patients and visitors in the facility, to ensure that everyone is safe and secure, and to respond quickly in case of emergency.

It’s important to note that RTLS technology is not a standalone solution and it’s often integrated with other technologies such as IoT, Wireless and Cloud computing to achieve the best results.