Asset Tracking remains a critical avenue for most small and medium businesses to operate safely and maintain better margins. In this post, we’ll identify 3 Asset Tracking Case Studies that can be adopted and implemented into any business type.
It is very common for most companies to use Asset Tracking Software and view it as just a means to track inventory. But using an asset tracking system can be highly beneficial and efficient, therefore reducing time and costs. Below is a list of four key outcomes that, on average, businesses have achieved by implementing a form of asset tracking software:
- The downtime of company equipment can be reduced by 4% to 18%
- Employee efficiency in the workplace can be increased by 9% to 20%
- Inventory demand management can be optimised by up to 27%
- The performance of assets can be improved by up to 4%
3 case studies of asset tracking in the workplace
Below, we analyse 3 Asset Tracking Case Studies that highlight the competitive advantages of using a tracking system. By analysing the applications and tracking methods used by these companies, you can get an understanding of how tracking systems can impact your own business outcomes.
1. Amazon’s Inventory Management
Firstly, we look at the tracking management implemented at Amazon. Keeping in mind, this system organises its inventory to prioritise picking order and speed.
Technical Take Away: Random stow (unorganised inventory) is efficient if your handheld devices can offer an efficient picking order. Knowing the location of assets, via asset tags, can be prioritised to clubbing assets together.
Business Take Away: Most inventory experts suggest that closely related items should be placed together, but Amazon places its inventory randomly. Amazon has focussed on the speed of delivery to customers over organised inventory.
2. Lufthansa Technik’s Equipment Management
Our second case study highlights how Lufthansa Technik, and all of their ground support staff, track all of their ground equipment.
Technical Takeaway: As Lufthansa Technik show, using tracking apps on smartphones can make it easier for employees to track equipment. Therefore eliminating the need to track assets specifically via a specific handheld device. Evaluating Barcode, RFID and NFC tagging options from a user perspective is an effective approach.
Business Takeaway: Lufthansa Technik show that new and innovative tracking mechanisms can perform better when implemented in a phased manner. Firstly, they placed the asset tracking system in Hamburg and then they rolled it out at Munich and Frankfurt.
3. Stanley Black and Decker
Finally, the third case study analyses how the use of Wi-Fi and RFID tracking helps to improve employee productivity.
Technical Takeaway: Merging two technologies like Wi-Fi and RFID can exponentially increase asset tracking capabilities.
Business Takeaway: As Stanley Black and Decker highlights, a Wi-Fi and RFID tracking system can make it easier for employees to flag issues and arrange assistance. Therefore, improving production efficiency.