IBM and Vodafone join forces to improve Mobile Asset Optimization
The Internet of Things is having a major effect on delivery logistics through tracking and predicting asset movement throughout the supply chain, reducing loss, theft and replacement costs. Today’s asset-intensive organizations must constantly track, assess and manage the reliability of a wide range of physical, technological and human assets. These organizations must manage both inventory and production. They repair machinery, hire and schedule employees, deploy and manage IT infrastructure, maintain physical plants, and manage linear infrastructure or rolling assets.
The quality of an organization’s products and services are impacted by the reliability of its assets and equipment. As a result, the increased need for asset maintenance and its management can have a direct impact on customer satisfaction.
To capture essential asset tracking information and enable a view of current and future availability of critical assets to manage customer expectations, businesses must invest into new technologies now to overcome the challenges being faced by logistics and operations managers across the world.
Vodafone and IBM are optimizing Asset Management to improve the bottom line
Vodafone and IBM have partnered on a new Mobile Asset Optimization (MAO) solution that optimizes the operational performance of assets to drive efficiency and profitability. By fitting your asset with a tracking device we enable our IoT platform to manage device data, which integrates with advanced analytics to provide predictive insights. Mobile Asset Optimization:
- Provides analytics on location and availability of any trackable asset, including high value goods, transportation containers with critical assets, or even equipment used to move goods such as fleets of trucks or trains.
- Tracks & predicts inventory levels of assets at a given location, which enables better maintenance and budgeting of assets based on availability and improves utilization (turnover) of assets.
- Provides weather insights and alerts to enable better co-ordination across supply chains or complex logistics processes, such as managing handoffs in a supply chain, compliance with logistics contracts, and mitigation of loss and theft.
Key benefits of Mobile Asset Optimization
MAO provides major advantages that can lead to huge cost savings. Key benefits enterprises are seeing include increased workforce efficiency, asset predictability and risk avoidance.
- We’ve seen customers cut the number of engineer visits and equipment recalls, as well as reducing the cycle time to repair assets, because assets can be repaired at home bases without the need for a visit by a service technician. This delivers maintenance cost improvements of up to 30%.
- Using MAO, companies can reduce inventory levels, because they have far greater insight into where their assets are and how they can be productively and optimally deployed.
- By reducing the number of assets that cannot be accounted for, or by being notified when assets wander into areas of high historical loss, enterprises are able to reduce the cost of renting temporary replacements by up to 30% and dramatically reduce asset replacement costs.
The IBM and Vodafone partnership combines leading IoT platform and analytics capabilities with leading mobile asset tracking solutions and global IoT connectivity services, to solve some of the world’s most complex asset management and logistics challenges. To learn more, visit ibm.co/asset-optimization.