What is asset tracking for a business? With digital tracking, companies can stay aware of asset movement, performance, maintenance needs and other crucial aspects of their valuable property. Without proper tracking, a business faces risks of loss and damage. A computerized maintenance management system allows companies to follow best practices for tracking their assets.

What Is Asset Tracking?

In a nutshell, asset tracking is monitoring and evaluating specific data about a company’s assets, whether that’s computer equipment, manufacturing machines or company automobiles. To effectively and efficiently keep track of your assets, the following information should be a part of your tracking system:

• Asset name
• Asset purpose
• Asset’s physical location
• Individuals assigned to the asset
• Maintenance schedule
• KPIs and metrics

Your tracking system should also account for any failure and downtime with the asset, as knowing the reasons for a lack of performance should inform repair or replacement decisions. This information is also important for asset lifecycle management.

What Is a CMMS?

CMMS software centralizes data collection and storage related to maintenance operations and assets. The gathered information facilitates and allows for automating asset management processes, optimizing the availability and utilization of machinery, vehicles, plant infrastructures and other assets.

CMMS systems are found across industries such as construction, oil and gas, manufacturing, hospital, education, retail sector, transportation etc, where keeping track of the physical infrastructure is essential to operations.

How Can a CMMS Help With Asset Tracking?

Using a CMMS for asset tracking gives your team the tools needed to manage your asset inventory, predict equipment lifespan, manage warranties or acquisition dates, and schedule maintenance. Your company can benefit from the real-time data on each piece of equipment or machinery, with insights that let you see specific performance output, upkeep costs and the overall return on investment for every asset you own.

A digital tracking system allows you to gather much information accurately and efficiently. These are key functions a CMMS supports.

Asset Registration

Tracking starts with registering any asset in the inventory into the system. All the asset’s information, such as make, model, location, serial number and purchase date and value, is important to record.

Availability and Location Tracking

The system can track the availability of any asset in the system. It shows whether the item is ready for use or available to move offline for maintenance or repair. It also shows the exact location where an asset is and the last operator. From web or Mobile CMMS user can find the location of asset on the floor plan

Maintenance and Repair

One of the most important reasons for focusing on asset tracking is the impact it has on maintenance repair. A CMMS gives you an automated way to monitor any work performed on assets and schedule routine inspections. Breakdowns and going offline interfere with productivity and revenue, making preventive maintenance crucial for extending the lifespan and performance of an asset.

We Can Help With Tracking Your Assets

Now you know the basics of what asset tracking is, and how you can implement it in your business. If you are ready to use a CMMS to track your equipment, our team at DreamzCMMS can help. We simplify asset maintenance and management, giving your company the benefits of improved performance, longer asset lifespans and automated workflow. Contact us to find out more.